Kazakhstan offers Italian cos favorable conditions for joint geological exploration of rare earth metals

ASTANA. May 30 (Interfax) - Kazakhstan is ready to provide Italian companies with favorable conditions for joint geological exploration and mining of rare earth metals, President Kassym-Jomart Tokayev said.

"Strengthening industrial cooperation opens significant prospects. Kazakhstan possesses substantial reserves of rare earth metals, and we are ready to work together with Italy in this area," Tokayev said at the Central Asia-Italy summit in Astana.

He said Kazakhstan had initiated the creation of a regional research center that will aggregate all relevant data on rare earth metal deposits in Central Asia.

"We are ready to offer Italian companies favorable conditions for joint geological exploration and mining of rare earth elements and minerals, guided by the formula investments and technology in exchange for strategic raw materials," he said.