Kyrgyzstan
Kyrgyzstan has twenty rare earth sites, located in the Issyk-Kul, Talas, Chu, Jalalabad and Osh regions.17 The majority of them, however, require additional geological studies. The main site now under exploitation is that of Kutesay-2, in the Chu region, which produced 80% of Soviet rare earths (about 750 tons per year after recovery losses), most of which were headed for the Soviet nuclear program between the 1960s and the Union’s collapse. In 2009, Stans Energy Corporation, listed in Toronto, acquired a license to exploit this mine for twenty years. In 2011, it announced the purchase of the Heavy Rare Earth Element Processing Complex situated close by,18 and an investment of US$5.5 million for buying the factory’s railway terminal, situated about 21 miles from the mine, the aim being to boost exports to China.19 Stans also intends to increase its production to 2,000 tons per year; the mine is particularly interesting as it contains the five most profitable rare earth metals (neodymium, europium, terbium, dysprosium, and yttrium).
Kyrgyzstan suffers, however, from its image as an unstable country with a legal framework that is too uncertain for foreign investment and subject to the political hazards of the moment. This limits Bishkek’s ability to attract the necessary funds. Thus, several Japanese companies have shown interest in the rare earths but are hesitating on further involvement. An agreement has been signed with Tokyo, according the terms of which the Geology Institute of the Academy of Sciences of Kyrgyzstan has committed to draw up a report on the available resources of rare earths for the Japanese.20 The report is due to be delivered sometime in the second half of 2012. South Korea, which is heavily reliant on rare earths for its production of high technology, has also shown interest in the Kyrgyz sites and has launched a prospection program.21 The visit by Posco holding’s representatives to Kyrgyzstan in May 2012 confirmed South Korean interest.22
http://websites.networksolutions.com/share/...aper_1,_August_2012.pdf
(> icigar, SH) |
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