Hazakhstan's Critical Mineral Contest: Canadian mining giant Ivanhoe Mines is extracting copper in Kazakhstan.
Editor's Note: Copper is a key metal in the energy transition and is currently facing supply shortages that cannot meet the growing demand. From electric vehicles to renewable energy systems, the global economy's shift toward decarbonization has increased pressure on the copper supply chain.
According to data from the International Energy Agency (IEA), by 2035, the copper supply deficit may expand to 40%. This forecast was published in the '2025 Global Critical Minerals Outlook' released on May 21, emphasizing that current copper mining falls short of expected demand, driven by the growth of artificial intelligence technology and the development of energy infrastructure.
"Kazinform News" reported that on May 28, President Kassym-Jomart Tokayev met with Robert Friedland, Executive Director and Co-Chairman of the Board of Ivanhoe Mines Limited, at the Presidential Palace.
During the talks, both parties had an in-depth exchange on the prospects for cooperation in geological exploration, mineral resource development, and metal processing.
President Tokayev heard a report about the large-scale geological exploration work being carried out in the Chu-Sarysu copper ore region. It was reported that Ivanhoe Mines had previously announced plans to invest $18.7 million in the first phase of exploration for the project and plans to increase the total investment to $115 million over the next four years.
Friedland stated that the project will adopt advanced airborne geophysical techniques and digital data analysis methods. He emphasized that this copper mine development project is not only one of the largest in Kazakhstan's mining sector so far but also holds the potential to bring new development opportunities to the global copper ore processing field.
Original article: https://www.toutiao.com/article/1833376987099331/
Disclaimer: The article solely represents the author's views.