Kazakh PM holds meeting on geological exploration and subsoil use development
Prime Minister Olzhas Bektenov held a meeting on the development of geology and subsoil use in the implementation of tasks set by the Head of State in the Address to the Nation Economic Course of Fair Kazakhstan and at an expanded Government session in January this year, El.kz cites primeminister.kz.
The approaches of the Ministry of Industry and Construction to increase the area of geological and geophysical study, attracting investment in the industry, the implementation of new promising projects were considered.
Attention was paid to the ongoing work to increase the area of geological and geophysical study to 2.2 million km2 by 2026. Minister of Industry and Construction Yersaiyn Nagaspayev reported that today the state geological study of subsoil is carried out on a scale of 1:200 000. On promising projects it is planned to introduce a scale of 1:25 000, which will have an effect in the form of detailed mapping to identify potential deposits, as well as increase the investment attractiveness of the industry.
Within the framework of the tasks previously set at the Government session (3 December 2024) regarding the involvement of state companies in the study of national wealth, the ministry has strengthened cooperation with the national mining company Tau-Ken Samruk. Thus, at the first stage, the ministry conducts geological exploration, identifying promising areas. Then the national company starts pre-investment preparation (additional exploration, selection of technologies, development of feasibility studies), after which it starts development independently or with partners. The plots not included in this process are transferred to auctions. Pilot projects are being implemented in the country under this mechanism at the Karatas (copper), Zhosabai (gold), North Katpar, Upper Kayrakty (tungsten) deposits. The next project is the Kuirektykol deposit, discovered last year in the Karaganda region, which has impressive reserves of rare earth metals used in the manufacture of semiconductors and powerful magnets. The implementation of the project also contributes to the development of related high-tech sectors of the economy. A total of 38 promising areas of TPI (solid minerals) have been identified in Kazakhstan in 2024.
In addition, the issues of attracting investments in geological exploration were considered. Over the past 6 years, the volume of investments of private investors in exploration of TPI has tripled and amounted to 100 billion tenge in 2024. At the same time, state investments in geological exploration are at an insufficient level.
The Prime Minister emphasised further work on attracting investment, development of relevant infrastructure and introduction of new scientific approaches in the study of subsoil. The relevant ministry and National Welfare Fund Samruk-Kazyna were instructed to strengthen joint measures to create a cycle aimed at the integrated development of the mineral resource base of the country. The Ministry of Finance has been instructed to find funds to increase state funding for geological exploration.
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