Astana, Kazakhstan: Kenges Rakishev, one of the richest people in Kazakhstan, stepped off a private plane at a Soviet-era aircraft and hopped into the head car of a fleet of sport utility vehicles. The vehicles tore down a two-lane street, zipping past the snow-covered grasslands in northeast Kazakhstan at 90 mph. Riding gun, Rakishev gestured toward the great loneliness. ” Little, right”? he said with a laugh. ” But it’s a special opportunity”.
That prospect is in metal, a key material used in electric automobiles and other clean energy systems. Kazakhstan, a mineral-rich region in Central Asia, has a lot of copper, and Rakishev is investing tens of millions of dollars to remove it.
Rakishev, 44, has links to Kazakhstan’s decision elite that are noticeable in his power opportunities and his order of a lender seized by the government. His close ties to a previous Kazakhstani prime minister led to Hunter Biden, the son of the president, whose business dealings attracted Republican ‘ attention during an investigation into his impeachment. But Rakishev’s following major purchase is significantly closer to home.
The nation’s transition to renewable energy, including electric cars, requires huge amounts of metal, metal, lithium and other essential minerals. Kazakhstan has many of them, and China, the biggest supplier of EVs and capacitors, is right next door and eager to buy. ” Everyone is going to China”, Rakishev said.
Kazakhstan, a former Russian state, has close ties to Russia and China to the northwest, and it maintains close business ties with Russia. However, China uses Kazakhstan’s crucial materials to provide for its factories ‘ insatiable needs, producing solar panels, batteries, and electric vehicles. Kazakhstan claimed it was also courting West buyers and that it did not play favorites when it came to mine investors.
” If somebody is doing geological exploration, I do n’t care what flag they carry”, said Kanat Sharlapayev, Kazakhstan’s minister of industry and construction and a former Citigroup executive in Kazakhstan and the Middle East.
Rakishev’s business, Kaznickel, is producing nickel and cobalt in the Abay area of eastern Kazakhstan. Nothing like the open-pit websites used to remove metal in countries like Indonesia, the project resembles a humble farming outpost. Wells emerge from the ground every few toes in areas covered in fresh snow. Through the holes, Kaznickel ensconces a chemical remedy into the ground. The solution contains the metal, which is then pumped to the floor and processed in a metallic storehouse right next to the webpage. Five years ago, the Kaznickel initiative was launched as a captain job. According to Rakishev, mine requires a lot of patience and vision, a lesson that other nations would be wise to take into account.
The West, he said, is lagging behind when it comes to essential vitamins. China began supplying potassium, chromium, and tungsten decades ago. ” You need to have compassion like China”, he said. ” They think strategically”. nyt
Beijing has spent billions of dollars on upgrading Kazakhstan’s railroads and other equipment to facilitate trade with Europe, a key trading partner of China, the majority of it as part of its Belt and Road international policy effort.
