Eurasia’s place in the future of raw materials value chains

The Eurasian mining sector experienced significant growth in foreign direct investment and trade throughout 2024. Western countries like the UK, Europe, and the USA are actively seeking partnerships with Kazakhstan and Uzbekistan to secure critical raw material supply chains. However, they face increasing competition from Chinese, Arab, Turkish, and Russian-backed companies.  In Kazakhstan alone, the number of active Chinese companies has increased by 3% in August 2024, surpassing 3,000 operational businesses and joint ventures. This escalating competition raises questions about the future landscape: Will this trend persist, and will the national governments maintain a balanced approach to deal allocation to ensure stability and security of raw material supply chains with the Western nations?