Foreign companies have invested 12 billion tenge in
Kazakhstan’s geological exploration sector over the past five years. According
to the Ministry of Industry and Construction, last year’s subsoil use auctions generated
more than 5.7 billion tenge for the state budget. Investment amounts are
rising, along with the number of participating countries, including the UK,
Australia, Singapore, Canada, and Türkiye. A key stage for them is obtaining a
license for exploration and mineral extraction, with over 3,000 licenses
already issued. Total investments from large foreign industry companies in the
sector are expected to reach $41 billion in the near future, enabling the
exploration of areas spanning more than 25,000 square kilometers.
«In recent years, foreign investors have been making
large-scale investments in our country, which is a significant achievement. The
volume of investments in geological exploration has been increasing. Licenses
are issued for six years, and based on the results of exploration, it will
become clear what reserves can be officially recorded by these investors. Investment
in geological exploration is crucial for us because it is a costly process. It
is great that giants like Rio Tinto and Fortescue are involved in exploration
here. We are now awaiting results from them, as they are already applying
advanced foreign technologies in geological exploration and investing
substantial amounts,» noted Bakhytzhan Aldongarov, head of the department at
the Kazakh Ministry of Industry and Construction.
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