The subgroup brings together relevant national promotional banks, the European Investment Bank, the European Bank for Reconstruction and Development and private financial institutions.
Sarytogan Graphite managing director Sean Gregory said: โThe strategic project status validates Sarytoganโs natural graphite deposit as world-class and highlights our vital role in supplying sustainable critical raw materials to Europe for battery and other strategic uses. We look forward to engaging with new opportunities under the Critical Raw Materials Act to deliver a sustainable supply of graphite to Europe and beyond.โ
The EU is Kazakhstanโs leading trade and investment partner, according to the countryโs Foreign Affairs Ministry. Trade turnover between Kazakhstan and the EU reached US$49.7 billion (A$76.45B) in the first nine months of 2024, a 16.9 per cent lift.
EU countries directly invested US$200.7B (A$308.71B) over the period, which was 47.8 per cent of the nationโs total gross direct foreign investment of US$419.5B (A$645.26B). More than 3000 European companies operate in Kazakhstan.
Europe needs raw materials to succeed in its industrial and climate ambitions, and to achieve that it requires stable, secure and diversified supply chains.
European Commission executive vice-president Stรฉphane Sรฉjournรฉ said the EUโs list of 13 strategic projects across the world, including Sarytoganโs graphite project, will help to reduce its supply dependencies and contribute to its economic security, while also creating growth, jobs and export opportunities in the source countries.
It could be a meaningful fillip for Sarytogan too, as it should open doors for the company to European funding โ and give the company new opportunities to engage with its host nation and the wider EU market.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
About The Author
