Kazakhstan is the top uranium producer globally (representing 40% of production), the second largest chromite producer (13%) and the fifth largest cadmium producer (5.9%) as per the United States Geological Survey. Abundant mines of rhenium, zinc, and manganese are also said to be present.

India and Kazakhstan, both abundant in rare earth and critical minerals, have agreed to form a partnership company called IREUK Titanium Limited to manufacture Titanium Slag in India. This JV in Central Asia will be India's inaugural one.

IREL and Ust-Kamenogorsk Titanium and Magnesium Plant from Kazakhstan have agreed to create a joint venture company called IREUK Titanium Limited.

The JVC aims to promote the growth of the titanium value chain in India by converting low grade Ilmenite into high grade titanium feedstock, while also creating employment opportunities in Odisha.

IRE, a government organization falling under the purview of the Department of Atomic Energy (DAE), produces excess Ilmenite in Odisha. UKTMP is among the biggest titanium producers globally, with operations spanning from extracting raw materials to manufacturing high-value titanium sponge and ingots.

Deependra Singh, chairman and managing director of IREL (India) Limited, signed the agreement with Assem Mamutova, president of UKTMP. Kazakhstan not only has abundant reserves of oil and uranium, but also possesses significant amounts of critical minerals.