The rare earth metals plant (Sacero LLP) in Stepnogorsk, owned by the Kazakh company Silkway Metals (a subsidiary of Australia’s Lindian Resources), was announced by the Akmola region akimat (state administration).
The project is estimated to cost $150 million. Of this, $50 million is planned for upgrading the existing plant, and another $100 million for the construction of a mixed rare earth metal carbonate production facility.
The capacity of the specialized plant will be 8,000 tons per year.
The project is scheduled for 2026-2028.
The new plant is expected to process raw materials from the Kangankunde monazite sand deposit in Malawi, with some of the output exported to France.
Previously, the rare earth metals plant was owned by Kazakhstan’s Kazatomprom (51%) and Japan’s Sumitomo Corporation (49%).
The project later encountered technological challenges, falling global prices for rare earth metals, and low capacity utilization. Since 2018, the enterprise has changed hands several times.
The plant was acquired by an Australian company in August-September.
Around the same time, Lindian Resources engaged France’s Carester and Australia’s Tetra Tech Coffey to prepare a feasibility study for the new facility. (Logistan)