The Kolkuduk licence is located near Condor Energies’ existing 37,300ha Sayakbay critical minerals licence.
The Kolkuduk licence, covering an area of 6,800 hectares (ha), grants Condor Energies a six-year term for exploring solid minerals.
The licence is located near Condor Energies’ existing 37,300ha Sayakbay critical minerals licence.
Both licences are situated in a geothermally active region that is heavily faulted. This geological setting facilitated the migration of mineralised brines into reservoirs.
These licences are strategically located between Europe and China, offering direct access to critical minerals markets.
According to the Ministry of Geology of Kazakhstan, an earlier well drilled in the Kolkuduk licence area for hydrocarbon exploration uncovered brine deposits containing lithium concentrations of up to 130mg per litre.
Historical data indicates a 1,000m column of tested and untested brine reservoirs with other identified minerals including rubidium, strontium and cesium.
Condor Energies president and CEO Don Streu said: “Condor’s focus on developing critical minerals in Kazakhstan aligns with the strategic focus of multiple countries to accelerate the development of diverse, secure and sustainable supply chains of critical minerals.
“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.
“Condor’s expanding critical mineral initiatives complement our existing Uzbekistan natural gas production enhancement project and our developing Kazakhstan liquified natural gas (LNG) transportation fuel business to position the company to be a valuable supplier of secure, stable and sustainable energy and mineral needs in the geopolitically strategic central Asia region. It also positions the company to realise multiple revenue streams that should remain robust across varying economic conditions and geopolitical priorities.”
In related news, Ivanhoe Mines has formed a joint venture with UK-based Pallas Resources to explore the Chu-Sarysu copper basin in Kazakhstan.
