U.S. investor James Cameron has offered $5 billion to buy mining giant Eurasian Resources Group (ERG) as the company looks to expand rare earth output in Kazakhstan. However, ERG has stated that there are no negotiations for the sale of the company. ERG, which is 40% owned by the Kazakh government, formed a task force last year to explore rare earth and rare metal deposits in the country. The interest in ERG from Cameron is partly linked to Kazakhstan's potential in critical minerals exploration and mining, as the country aims to increase rare earth and rare metal output by 40% by 2028. Goldman Sachs is reportedly in preliminary talks to advise on the deal.