Germany working with Kazakhstan on rare earth deals

German companies are working with its government to develop rare earth projects in Kazakhstan, the Bloomberg cited the Handelsblatt newspaper as saying.

The report said BDI, or Federation of German Industries, had began enlisting companies since late 2010. These companies might take direct stakes in rare-earth development projects abroad, it said. 

The cooperation between Kazakhstan and Germany is similar with that of Mongolia and Japan. In both cases, the poor country is eager to develop its natural resources in exchange for development help and technology know-how. The rich country needs raw materials outside China. 

Here is the Bloomberg story: Germany, Kazakhstan Forging Rare-Earth Pact, Handelsblatt Says