We investigated the distribution patterns and evaluated the average contents of trace elements in the k7 seam of the Karaganda coal basin in Central Kazakhstan. This paper presents the results of studying the geochemistry of 34 elements in 85 samples of the k7 seam. The study employed a suite of advanced high-resolution analytical methods, including atomic emission spectrometry with inductively coupled plasma (ICP–OES) and mass spectrometry with inductively coupled plasma (ICP–MS), along with their processing and interpretation. It was determined that the concentrations of trace elements in the k7 seam are primarily associated with lithophile elements, revealing high concentrations of Li, V, Sc, Zr, Hf, and Ba. Additionally, increased concentrations of Nb, Ta, Se, Te, Ag, and Th were observed compared to the coal Clarke. Specific Nb(Ta)–Zr(Hf)–Li mineralization accompanied by a group of associated metals (Ba, V, Sc, etc.) was identified. The study revealed lateral and vertical heterogeneity of the rare elements’ distributions in coals, attributed to the formation dynamics of the coal basin. A correlation between Li and Al2O3 with a less positive relationship with K2O suggests the affinity of certain elements (Li, Ta, Nb, and Ba) to kaolinite. Clay layers showed increased radioactivity, with Th—13.2 ppm and U—2.6 ppm, indicating the possible presence of volcanogenic pyroclastic rocks characterized by radioactivity. Taken together, these data reveal the features of the rock composition of the source area, which is considered a mineralization source. According to geochemical data, it was found that the source area mainly consists of igneous felsic rocks, indicating that the formation occurred under conditions of a volcanic arc. This study’s novelty lies in estimating the average trace elements in the k7 seam, with elevated concentrations of certain elements that suggest promising prospects for industrial extraction from coals and coal wastes. These findings offer insights into considering coal as a potential source of raw material for rare metal production, guiding the industrial processing of key elements within coal. The potential extraction of metals from coal deposits, including from dumps, holds significance for industrial and commercial technologies, as processing critical coal elements can reduce disposal costs and mitigate their environmental impact.