U.S. investor James Cameron has offered to buy mining giant Eurasian Resources Group (ERG) for $5 billion as the company plans to expand Kazakhstan's rare earths output. ERG, which is 40%-owned by the Kazakh government, has formed a task force to explore deposits of rare earth and rare metals in the country. Talks between ERG and Cameron have been ongoing since last year, and Goldman Sachs is in preliminary talks to advise on the deal. Kazakhstan aims to increase rare earth and rare metals output by 40% by 2028, with ERG playing a major role in the initiative.