EU includes Sarytogan graphite deposit in Kazakhstan in list of strategic initiatives

The EU has included the Sarytogan graphite deposit, located in the Karaganda region of Kazakhstan, in the list of strategic initiatives, according to the Ministry of Industry and Construction of the country, Report informs via Kazakh media.

The European Commission (EC) is initiating the process of attracting investments in the development of the project. According to estimates, the total capital costs are determined in the range of $62-344 million.

"The Sarytogan project is considered a key element in strengthening the industrial partnership between the European Union and the Republic of Kazakhstan, as well as part of the pan-European strategy to ensure sustainable supplies of critical materials for the EU's green and digital transition," the ministry said.

In addition, the EC expressed its readiness to support the Kazakh enterprise in concluding offtake contracts with European partners.