US seeks alternative to China for rare earths in Central Asia

Astana, Nov 7 (EFE).- The United States is looking to countries such as Kazakhstan and Uzbekistan as alternative sources to China for rare earth minerals, offering increased investment in exchange for access to raw materials.

“Unfortunately, previous US presidents have completely neglected this region,” President Donald Trump said Thursday during a meeting in Washington with the leaders of Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan.

The US president described Central Asia as “an incredible and extremely rich region.”

Kazakhstan, the world’s largest untapped tungsten reserve

Although China on Friday suspended for one year the export controls it had imposed on Oct. 9 on strategic materials such as rare earths, lithium battery components and industrial synthetic diamonds, Washington moved to secure alternative sources.

Trump agreed with his Kazakh counterpart, Kassym-Jomart Tokayev, to create a joint venture between Cove Capital (70%) and Tau-Ken Samruk (30%) to develop the world’s largest untapped tungsten deposit, estimated at 410,000 tons.

Tokayev, who calls rare earth metals “the second oil,” said attracting new investment was key for Kazakhstan, which has significant reserves of rubidium, cesium, lithium and beryllium, as well as the world’s largest tungsten and some of the largest uranium and chromium deposits.

The United States and Kazakhstan signed a package of agreements worth more than $17 billion, including the purchase of US trains, 15 Boeing 787-9 Dreamliner aircraft, John Deere farm machinery, and a major rare earth extraction project.

Uzbekistan investment to reach $300 billion

Trump also announced via Truth Social a deal with neighboring Uzbekistan for rare earth mining, pledging to invest “around $35 billion over the next three years and more than $300 billion in the next decade.”

According to the press service of Uzbek President Shavkat Mirziyoyev, the Central Asian nation—home to deposits of more than 30 metals, including tungsten, molybdenum and lithium—plans to carry out over 70 raw-material extraction projects worth $1.6 billion by 2028.

The agreements between Washington and Tashkent include the purchase of 22 Boeing aircraft, car parts, IT initiatives and projects in the chemical industry.

Tajikistan signed a deal with Boeing for 14 planes, while Turkmenistan and Kyrgyzstan did not report any new agreements.

kk-mos/jrh

(photo)

US President Donald Trump (2nd L) during a meeting Thursday at the White House with the leaders of Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan as part of the US–Central Asia summit. EFE/ Kazakh Presidency
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US President Donald Trump (L) with Kazakh President Kassym-Jomart Tokayev (R) during a meeting at the White House on Thursday. EFE/ Kazakh Presidency EDITORIAL USE ONLY / AVAILABLE ONLY TO ILLUSTRATE THE ACCOMPANYING NEWS ITEM (MANDATORY CREDIT)