The agreement was signed on the sidelines of the ongoing COP 27 climate conference in Sharm El Shaikh, Egypt. Kazakh Prime Minister Alikhan Smailov and EU Commission President Ursula von der Leyen signed the agreement.
The agreement also includes refined materials, as well as the development of renewable hydrogen.
According to the terms of the agreement, the EU and Kazakhstan will identify joint projects in the strategic value chains of raw materials, batteries, and renewable hydrogen. Both parties will align on high ESG standards, and work together to modernise mining and refining processes and technologies.
The trading partners will also enhance the transparency and information related to investment, operations, and exports regarding raw material, battery, and renewable hydrogen supply chains.
The partners will also work together to decarbonise the critical raw materials value chain by using renewable energy and digitisation, as well as improving the sustainability of mining processes. The agreement also calls for managing industrial mineral waste and extracting critical minerals from these wastes.
Kazakhstan and the EU will develop a roadmap for 2023-2024 with concrete actions within the next six months.