Kazakhstan has signed a $107 million long-term agreement with Britain's Maritime House Ltd. to expand the processing of rhenium-bearing raw materials, marking a major step in strengthening cooperation on critical minerals and high-value manufacturing.

The five-year offtake contract was signed at Kazakhstan's Ministry of Industry and Construction between JSC Zhezkazganredmet and Maritime House Ltd. in the presence of Industry and Construction Minister Yersaiyn Nagaspayev, The Caspian Post reports via Kazinform.

The agreement will support a major investment project to produce metallic rhenium from secondary raw materials in the city of Saran, located in Kazakhstan's Karaganda region. The project is expected to attract around $30 million in investment.

According to the ministry, the partnership provides a long-term framework for stable production and deeper industrial cooperation between Kazakhstan and the United Kingdom.

The project aligns with Kazakhstan's strategy to increase the domestic processing of critical minerals, adopt advanced technologies and expand high-tech manufacturing.