KIGAM, Tau-Ken Samruk to drill Bakennoye lithium deposit in Kazakhstan
This digest was compiled by AI from multiple sources — links to the originals are below.
South Korea's KIGAM, Tau-Ken Samruk and Ognevsky GOK signed a framework agreement to conduct joint drilling at the Bakennoye lithium deposit in Kazakhstan. The drilling aims to confirm the deposit's prospects and support its further development. The agreement was signed during President Tokayev's visit to South Korea, part of $11 billion in deals.
Key Facts
- The framework agreement on joint research was signed by Tau-Ken Samruk, Ognevsky GOK and KIGAM.
- The agreement provides for joint drilling at the Bakennoye lithium deposit.
- Tau-Ken Samruk and POSCO Holdings signed a memorandum on strategic technical cooperation in rare earth element processing.
- Samruk-Kazyna group signed agreements with Korean companies worth $11 billion during the Kazakh-Korean business council.
- QazaqGaz and Hyundai Engineering signed an agreement for a gas processing plant with capacity of 5 billion cubic meters per year based on Karachaganak field raw materials.
Lithium Drilling Agreement
The framework agreement on joint research was signed by Tau-Ken Samruk, Ognevsky GOK and KIGAM. The document provides for joint drilling at the Bakennoye lithium deposit to confirm its prospects and further development. The Bakennoye deposit is one of six lithium deposits in Kazakhstan, including Yubileynoye, Verkhne-Baimurzinskoye, Akhmetkino, Medvedka and Akhmirskoye. In March 2024, the deposit was discovered on a pegmatite field of 1.6 square kilometers in East Kazakhstan. KIGAM studied the area from May 2023 at the request of the Kazakhstan government.
Korean Cooperation Deals
Tau-Ken Samruk and POSCO Holdings signed a memorandum on strategic technical cooperation in rare earth element processing. The South Korean company intends to develop cooperation in processing, separation and refining technologies for rare earth materials, as well as production of high value-added products. Samruk-Kazyna group signed agreements with Korean companies worth $11 billion during the Kazakh-Korean business council and President Tokayev's visit. QazaqGaz and Hyundai Engineering signed an agreement for a gas processing plant with capacity of 5 billion cubic meters per year based on Karachaganak field raw materials. KazMunayGas and Samsung E&A signed an agreement to expand Pavlodar petrochemical plant to 9 million tons per year.
1 source
Time · lag behind first