ASTANA,Kazakhstan. August 12–The European Bank for Reconstruction and Development (EBRD) has announced its first direct equity investment in Central Asia’s graphite and critical raw materials sector by acquiring a stake in Sarytogan Graphite Limited, a company listed on the Australian Securities Exchange. Sarytogan Graphite is engaged in exploring the Sarytogan graphite deposit located in the Karaganda region of central Kazakhstan.
The EBRD is investing AUD 5 million (€3 million) for a 17.36% shareholding in Sarytogan Graphite, which will fund the company’s development program, including the preparation of a feasibility study and meeting its working capital requirements.
Graphite is classified as a critical raw material (CRM) by the European Union, with applications ranging from electric vehicle batteries to the electric power industry and metallurgy. The Sarytogan graphite deposit is one of the world’s largest known reserves, with the potential to become a major supplier of natural graphite both regionally and globally.
This project supports the EU-Kazakhstan strategic partnership on raw materials, batteries, and renewable hydrogen.
Kazakhstan produces 19 of the 34 critical raw materials identified by the European Union, according to the country’s Ministry of Industry and Construction. Kazakhstani manufacturers already supply the European market with various metal and chemical products, including beryllium, tantalum, titanium, phosphorus, and ammonium metavanadate.
As one of the world’s top ten copper producers, Kazakhstan also has the potential to produce key battery raw materials such as nickel, cobalt, manganese, and lithium, which are crucial for electric vehicle production.
