3 Years of Effort... South Korea Secures Lithium Exploration Rights in Kazakhstan

Expectations for Yoon Administration's Strategic Hub in Critical Mineral Supply Chain

Three years of scientific mineral exploration efforts have created a significant turning point in securing raw materials for Korea's secondary battery industry.

The Korea Institute of Geoscience and Mineral Resources (KIGAM, President Lee Pyeong-gu) announced on the 12th that it attended the Korea-Kazakhstan Business Forum and signed a multilateral Memorandum of Understanding (MOU) with SK Ecoplant, the Kazakhstan Ministry of Industry and Construction, and Tauken Samruk (a state-owned mineral exploration company) to commence full-scale exploration of the lithium mine in the Bakeno region of eastern Kazakhstan. According to the MOU, KIGAM will conduct sole exploration of four lithium mines in Kazakhstan. After the exploration is completed, participation by Korean private companies in development is expected.

After meeting with Kassym-Jomart Tokayev, President of Kazakhstan, Lee Pyung-gu, Director of Jiyayeon, is taking a commemorative photo. Photo by Jiyayeon

This agreement marks Kazakhstan’s final selection of KIGAM as a strategic partner for lithium mineral exploration and development, coinciding with President Yoon Suk-yeol’s visit.

KIGAM and Kazakhstan began discussions on joint research for lithium exploration and development in October 2021, following the visit of Kazakhstan’s First Deputy Prime Minister to Korea. In November 2022, a business agreement for joint exploration between the two countries was signed, and a joint field survey was conducted in June last year. The exploration results estimated approximately 25,000 tons of lithium reserves. Considering that an average of 7.5 kg of lithium is used per electric vehicle battery, this amount could supply batteries for about 3.3 million electric vehicles, equivalent to roughly 10 years of production. KIGAM plans to conduct additional precise exploration in the second half of this year using 3D drone topography surveys and hyperspectral imaging techniques.

KIGAM explained that the possibility of Korean companies participating in the development phase has greatly increased following the request by the Kazakhstan Minister of Industry and Construction to establish a KIGAM research branch in Kazakhstan. In addition to the Bakeno region, the Kazakhstan government has requested KIGAM’s technical assistance in investigating lithium reserves in the lithium mine located in the southwestern Aral Sea salt desert.

Lee Pyeong-gu, President of KIGAM, stated, “Kazakhstan’s lithium development presents an important opportunity over the next decade not only for securing battery supply for domestic electric vehicle production but also for establishing a supply chain of critical minerals.” He added, “We will transfer KIGAM’s excellent beneficiation and smelting technologies to Kazakhstan and utilize it as a strategic hub in the critical minerals supply chain.”

This content was produced with the assistance of AI translation services.