Condor Energies Obtains Second Critical Minerals Mining Licence in Kazakhstan

Condor Energies, a Canadian energy transition company, has received a second critical minerals mining licence in Kazakhstan for the Kolkuduk area, allowing exploration over 6,800 hectares. The region’s geological conditions favor mineral deposits, including lithium. This initiative supports global efforts for secure supply chains and positions Condor for stable revenue amidst fluctuating markets.

Condor Energies, a Canadian energy transition firm, has obtained a second critical minerals mining licence from Kazakhstan’s mining government ministry. The Kolkuduk licence spans 6,800 hectares and allows Condor Energies a six-year exploration period for solid minerals. This site is situated adjacent to their existing 37,300-hectare Sayakbay critical minerals licence.

Both licences are located in a geologically active region characterized by heavy faulting that has facilitated the movement of mineralised brines into reservoirs. The strategic positioning of these licences enables direct access to critical minerals markets between Europe and China. According to Kazakhstan’s Ministry of Geology, a previously drilled well in the Kolkuduk area revealed brine deposits containing lithium concentrations of up to 130mg per litre, alongside historical data indicating 1,000 meters of tested and untested brine reservoirs with other minerals, including rubidium, strontium, and cesium.

Condor Energies President and CEO Don Streu emphasized the alignment of Condor’s initiatives with the global strategic focus on diversifying and securing sustainable supply chains for critical minerals. He stated: “Kazakhstan is one of the select group of minerals-producing countries identified as strategic to these efforts. Critical minerals have become a key focus for many countries’ national security and economic prosperity.”

Streu added that Condor’s projects complement its existing initiatives in Uzbekistan and upcoming LNG transportation efforts in Kazakhstan. This positions Condor to be a dependable supplier of energy and minerals in the geopolitically significant Central Asia region, potentially generating multiple robust revenue streams regardless of economic fluctuations and geopolitical priorities.

In a related development, Ivanhoe Mines has established a joint venture with UK-based Pallas Resources to explore the Chu-Sarysu copper basin in Kazakhstan.

Condor Energies’ acquisition of a second mining licence in Kazakhstan underscores its commitment to developing critical minerals in a strategically important region. This initiative not only aligns with global supply chain efforts but also offers the prospect of stable revenue under fluctuating economic conditions. Moreover, Condor’s broader strategic goals in the region could further solidify its position as a crucial player in the energy and mineral sectors.

Original Source: www.mining-technology.com