Access to new resource related to investment projects to explore and extract minerals in Kazakhstan added to PMWL
Resource provided by Yerbol Jangabulov
28 May 2019 – Almaty, Kazakhstan – Access to a new resource has been added to the PM World Library (PMWL) related to Public P/PM Resources.The new resource is titled “Kazgeology JSC”, and is a platform for attracting investments and transfer of innovative technologies to the geological industry of the country. Kazgeology JSC was established in accordance with the Resolution of the Government of the Republic of Kazakhstan dated June 21, 2011 No. 684.
Kazakhstan is on the 24th line in the Fraser Institute's ranking, which annually assesses the investment attractiveness of countries in the field of geology and subsoil use. Kazakhstan has promising geological reserves of minerals, the demand for which will grow in the future. Available for geological study are 1.2 million square km. of deposits, while only 21% are studied. In this regard, Kazakhstan is interested in attracting investment in exploration. Kazgeology JSC carries out a full cycle of geological exploration of minerals in the Republic of Kazakhstan, and fulfillment of orders within the framework of private partnerships to promote the development of raw materials and industrial sectors of the economy.
Four major foreign investors have already been attracted to Kazakhstan's geological exploration in 2017-2018, such as the Australian-British concern Rio Tinto, the South Korean corporation KORES, the Australian company Iluka Resources and the German investment fund ULMUS FUND. These companies are ready to invest in the exploration stage in the amount of more than 14 million US dollars.
Jointly with the company "Rio Tinto" a joint venture was established, which will deal with two exploration projects in Central Kazakhstan. The Australian company Iluka Resources, as the world's largest producer of zircon and titanium products, has opened an office and begins work on geological exploration at three sites in northern Kazakhstan. In the event of the discovery of titanium, zirconium and tin deposits, Iluka Resources intends to obtain the right of subsoil use for their production with full funding for the work, and plans to build a mine and a concentrating plant worth up to 500 million US dollars.
Kazgeology has also signed agreements and memoranda with the following companies: Rusgeologia OJSC, Kibar Holding AS, Great Western Exploration Limited, Dando Drilling International, Japan Oil, Gas and Metals National Corporation (JOGMEC), Iranian Mines and Mining Industries (IMIDRO), KGHM Polska Miedz, Ghadir Industry & Mine Development International Co, Sadr Tamin Investment Co, and SUNIR Services Export Company, Yildirim Holding A.Ş., Metals Corners Holding Co, KIGAM (Korean Institute of Geological Sciences and Mineral Resources)
To attract investment in this area, the Astana Mining & Metallurgy (AMM) Congress is held annually in the capital, at which the main issues of the mining and metallurgical industry and development prospects are discussed. It brings together experts from around the world, including government and public figures, world-renowned scientists, and chief executive officers (CEO) of major companies. You can register for participation in this congress on the official site (https://www.amm.kz/en/)
To access this new resource, go to the Public P/PM Resources section of the library at https://pmworldlibrary.net/public-ppm-resources/, click on “Kazakhstan – Organizations, Programs, Projects and Resources”, scroll down to Government Initiatives. Must be a registered member and logged-in to access.
This new resource provided through the PMWL university research internship program; to learn more, click here
