Kazakhstan’s exploration activities may attract KZT50 bln of private investment
Nowadays Kazakhstan has the potential to engage in prospective geological exploration on an area of 1.2 million square km. This, in turn, will have a multiplier effect on the development of service companies, the influx of qualified personnel and technologies. In this regard, the expected effect of attracting private investment will amount to more than 50 billion tenge, Strategy2050.kz reports.
To ensure the investment attractiveness of Kazakhstan in the field of subsoil use for solid minerals on the basis of international best practice, the country adopted a new Subsoil Code. With the adoption of this Code, the Australian model for issuing licenses has been introduced and 621 licenses have already been issued.
From 2014 to 2018, the total amount of foreign investment in this direction amounted to 122 billion tenge. The bulk of it was invested by Russian investors in the Zholymbet, Aksu, Bestyube, Suzdalskoye, Sentash, Karabulak deposits, the Dekabskoye mine, Kokbory for the extraction of gold and gold-bearing ores. Investors from Germany, China, Canada, Great Britain, Belgium, Israel, Korea, Lebanon, Turkey, Switzerland, Serbia, the Netherlands, the United Arab Emirates, Australia, Cyprus, Luxembourg, Oman, and the United States were also attracted.
