For a long time, the region rich in critical minerals remained off the global radar. Today, however, Turkey and Central Asia are emerging as key players in global supply chains. Collectively, they hold vast, largely unexplored mineral reserves.
Turkey is home to significant rare earth element (REE) deposits, with the Beylikova site alone containing approximately 694 million tons of ore. Central Asia, meanwhile, accounts for 38.6% of global manganese reserves, 30% of chromium, and substantial deposits of lithium, copper, lead, zinc, and titanium.
With global energy demand rising and the world accelerating its shift toward electrification and clean energy, could Turkey and Central Asia become the next global mining powerhouse? To explore this question, we analyzed the historical background, data about regional mineral reserves, major projects and initiatives, and gathered insights from Leyla Keser Berber, Co-founder and Chairwoman of Tethys: Trans-Eurasian Gateway, a company connecting EU investments with mining initiatives across the region.
Why Still Unexplored?
The region is in the global spotlight, but why only now? The short answer lies in the enormous investments required to unlock its mining potential. Mineral exploration is rarely mid- or short-term: it demands significant resources, advanced technology and long-term commitment.
Historically, Turkey relied more on other economic sectors than mining. In Central Asia, exploration during the Soviet era was centralized and directed from Moscow. After the collapse of the USSR in 1991, exploration slowed dramatically as local governments lacked both expertise and investment capacity. Mining was a low priority, and as a result, the regions were never fully researched. Many geological archives are incomplete or outdated, leaving major knowledge gaps about valuable raw material reserves.
This is why discoveries continue to emerge. One of the examples is the recent finding of a massive lithium deposit estimated to be worth $15.7 billion in Kazakhstan by the Korea Institute of Geoscience and Mineral Resources. Ongoing exploration continues to reveal the undeniable potential of Turkey and Central Asia to play a pivotal role in global supply chains.
Key Critical Mineral Deposits in Turkey & Central Asia
- Turkey
- Rare Earth Elements (REEs) – Beylikova (Eskişehir): ~694 million tons of ore, the second-largest REE deposit globally, containing lanthanum, cerium, neodymium, and praseodymium - essential for EVs, wind turbines, and electronics.
- Nickel & Cobalt – Manisa, Gördes, Eskişehir: Laterite ores with ongoing projects focused on producing battery-grade nickel and cobalt.
- Kazakhstan
- Lithium – Newly discovered deposit (2024): Identified by the Korea Institute of Geoscience and Mineral Resources, highlighting Kazakhstan’s growing role in the global battery supply chain.
- Copper – Bozshakol and Aktogay: World-class deposits, strategically important for electrification and clean energy infrastructure.
- Uzbekistan
- Tungsten – Ingichka and Yakhton deposits: Among the largest tungsten reserves in the region, critical for high-strength alloys and electronics.
- Kyrgyzstan
- Rare Earth Elements – there are 11 deposits, including those in Issyk-Kul and Naryn regions. The Kutessay II deposit contains more than 63.3 thousand tons of rare earth metals, as well as associated reserves of molybdenum, silver, bismuth, lead, and zinc.
A Region in Transition
Dependence on global demand
Historically, the region has faced several barriers: conservative mining policies, slow permitting processes, and bureaucratic hurdles that discouraged foreign investors. Another challenge is the limited size of domestic markets. Local demand for minerals is too small to justify launching ambitious large-scale exploration, extraction, and processing projects independently. As a result, the industry has always been tied to global demand.
Extraction has therefore been the easier path, while processing and production of finished goods remain costly and underdeveloped. For decades, much of the raw material was exported (often to China) without significant local processing. This meant that countries captured little added value, missing out on opportunities to develop downstream industries and integrate deeper into global value chains.
A strategic corridor for China
China began investing in the region much earlier. The first wave of Chinese capital arrived in the 2000s, primarily targeting Kazakhstan’s copper and ferroalloy industries, and scaled significantly after 2013, when the Belt and Road Initiative (BRI) or a New Silk Way, a global infrastructure development strategy by Chinese government to invest in over 150 countries and international initiatives, positioned Central Asia as a strategic corridor and Turkey as a key logistics and supply hub along the “Middle Corridor.”
Today, Chinese mining investments are spread across the region. In Kyrgyzstan, China pursues an extraction-dominant approach, while in Tajikistan it has taken a more comprehensive path, investing in initial processing capabilities to convert raw ore into concentrates. By contrast, Turkey, Uzbekistan, and Kazakhstan maintain greater independence, engaging with China primarily in processing partnerships rather than ceding control over extraction.
Still, when a joint venture is established, it’s not that rare that 25–30% share belongs to the country, while 70–75% goes to the investment company. Having only one international partner to help discover, develop mine sites and invest in processing production capacities creates a risk and a high level of dependency. Regional governments therefore need to diversify their pool of international partners and open investment opportunities to as many countries as possible. This, however, may require a careful review of international mining standards and requirements, and adjustments to local practices and regulations.
The region recognizes the momentum
According to Leyla Keser Berber, Co-founder and Chairperson of the Tethys Trans-Eurasian Gateway Platform, the situation is changing. Governments in Kazakhstan, Uzbekistan, and Azerbaijan are now reforming mining laws, aligning regulations with international standards, and signaling readiness to work with Western investors.
Tethys is a private equity fund with a clear mission: to mobilize finance for mining projects, mining-related infrastructure, and clean energy in Turkey and Central Asia. The platform bridges Europe and Central Asia, uniting finance, technology, governments, and communities around one mission — to unlock the region’s mineral wealth responsibly and sustainably. Tethys partners with governments and businesses to bring sustainable investments in regional projects.
In May 2025, the company partnered with Minespider to bring transparency and traceability to the projects they are investing in. Projects will be required to reach certain EU health, safety and environmental standards (for example, IRMA standard) - and will capture and communicate this information using Minespider’s Digital Product Passports.
Recently, we had the opportunity to talk to Leyla about mining projects and investments in Turkey and Central Asia. Watch the full video here:
Shift towards mining development
Being at the forefront of regional changes, Tethys keeps a look at local initiatives which are important for foreign investment. There are bright examples of how Central Asian countries embrace changes. Uzbekistan, for example, has already adapted its soil law in cooperation with the European Bank for Reconstruction and Development (EBRD). Besides, the government has launched an unprecedented initiative to develop domestic processing capabilities for tungsten, lithium, titanium, and vanadium. Earlier, the country didn’t have capabilities and resources. In recent time, deposits of more than 30 critical minerals have been discovered, including tungsten, molybdenum, magnesium, lithium, and titanium. The center for the study of rare earth elements has been opened, and projects have been launched for their extraction and for establishing production in powder metallurgy - an industry that previously did not exist in Uzbekistan.
Similar initiatives are unfolding across the region. Kyrgyzstan has lifted moratoriums on mineral development to encourage exploration. Tajikistan has introduced tax incentives and investment protection measures. Kazakhstan has approved its “Comprehensive Plan for the Development of the Rare and Rare Earth Metals Industry for 2024–2028,” aiming for a 40% increase in investment and production.
Cleaner Investments for Cleaner Future
In mining, a project’s success depends on whether a reliable market exists. Without it, companies risk sinking time and resources into ventures that never deliver returns. China remains a massive market already closely tied to Central Asian resources, but relying too heavily on this single buyer carries significant risks. Europe, by contrast, represents both one of the largest markets for critical raw materials (CRMs) and an opportunity to diversify while capturing more economic value locally.
Recent steps to open and democratize the mining sector are beginning to show results. In 2023, European Commission President Ursula von der Leyen announced €12 billion in mobilized funding for Central Asia to secure access to CRMs, alongside the opening of a European Investment Bank (EIB) office in Tashkent. Leyla Keser Berber interprets this as a clear message from the EU: we are here to invest in your mining activities. The next move depends on local governments and businesses. Unlike Chinese capital, Western investment will demand higher levels of transparency and strict compliance with European ESG standards.
For decades, Turkey and Central Asia exported their resources with little added value. Today, the equation is changing: global demand, EU funding, and local reforms are creating conditions for a mining boom. The question is not whether the region has potential — but whether it will capture value locally or let others write the next chapter of its mining story.
Learn more about traceability and how Digital Product Passports can help you build transparent and sustainable mineral supply chains.
