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Kazakhstan is intensifying its geological exploration efforts, with a strategic pivot towards rare earth and rare metals, alongside the discovery of significant "new oil" reserves. This initiative marks a crucial step in strengthening the nation's position in the global raw materials market.

What is "New Oil"?

While historically recognized for its vast oil and gas wealth, Kazakhstan is now prioritizing what it terms "new oil" – referring to rare earth and rare metals. This strategic shift is vital for the country's economic future, especially as traditional oil production approaches its peak in some regions.

Exploration Breakthroughs

In the past year, 17 new mineral deposits were identified across the country. According to the Ministry of Industry and Construction, the scope of new geological exploration reached 2,038,000 square kilometers. This year, an additional 100,000 square kilometers are slated for geological mapping, involving key state entities like "National Geological Service" JSC and "Tau-Ken Samruk".

Key Resource Reserves

Data from the ministry indicates substantial reserves of key minerals. As of the latest reports, Kazakhstan holds approximately 2,369 tons of gold, 4.3 billion tons of oil, 3.8 trillion cubic meters of gas, 33.5 billion tons of coal, and 26.7 billion tons of iron ore. The nation's mineral resource base encompasses an estimated 10,000 deposits.

Investment and Future Plans

Driven by increasing global demand for rare metals, Kazakhstan is focused on enhancing the accuracy of its geological data and boosting the sector's investment appeal. Approximately 240 billion tenge is allocated for state geological exploration over the next three years, with promising sites expected to be auctioned starting in 2027.

Recognizing the decline in oil production in certain areas due to resource depletion, Kazakhstan is actively exploring new geological basins. Research is ongoing in the "Aral" sedimentary basin, and the "Syrdarya" basin exploration, which began in 2024, is set to continue for three years.

Over the last three years, the sector has attracted around 280 billion tenge in private investment for geological exploration. A notable characteristic of Kazakhstan's deposits is their often complex nature, meaning a single site can yield multiple types of valuable minerals.

This initiative marks a significant step in diversifying Kazakhstan's resource portfolio and securing its economic future in a rapidly evolving global market.

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