ASTANA, Kazakhstan, May 23. Kazakhstan is ready to supply Singapore with critical raw materials and natural resources, said President of Kazakhstan Kassym-Jomart Tokayev, as he addressed the closing ceremony of the Kazakh-Singapore Business Forum, Trend reports.
"With global demand for rare metals expected to quadruple by 2040, Kazakhstan, boasting around 5,000 unexplored deposits, could be a dependable partner for jointly tapping into this potential. We have high hopes for long-term collaboration with Indorama, a company keen on exploring copper and phosphate deposits in Kazakhstan," he said.
Highlighting the increasing interest in Kazakhstan's extensive renewable energy potential, Tokayev encouraged Singaporean companies to broaden partnerships in clean energy production, technology transfer, and expertise sharing.
"Singapore is renowned for its cutting-edge waste-to-energy facilities and innovative waste management technologies. We are keenly interested in such innovative waste management approaches and aim to foster cooperation in this field," the president added.
Meanwhile, Kazakhstan ranks second in the world in terms of proven reserves of natural uranium. The depths of the Republic of Kazakhstan contain about 14 percent of all proven world reserves. Estimates place the country's total proven reserves at more than 700,000 tons of uranium.
Kazakhstan took first place in uranium production in 2009 and continues to maintain a leading position in the world market. Kazakhstan produces about 40 percent of the world's uranium production. In 2021, the volume of uranium production amounted to 21,800 tons, according to the results of 2022–21,300 tons.