Kazakhstan, the world’s largest producer of uranium and a top supplier of copper, zinc, and other metals, is seeking to carve out a niche in the global market by focusing on high-value and specialty metals. The country’s mining industry is undergoing a shift as commodity prices remain low and demand for base metals weakens. Kazakhstan’s national company Kazatomprom, which controls about 40% of the world’s uranium production, is investing in projects to produce rare metals like neodymium and dysprosium, which are essential for making magnets used in electric vehicles and wind turbines. The company also plans to expand its production of rare earth metals, which are used in electronics and batteries. Kazakhstan’s efforts to diversify its mining industry come as China, the world’s largest consumer of metals, tightens its export controls, potentially limiting the supply of raw materials to global markets.
