Kazakhstan attracts investment in the mining sector

The government of one of the largest republics of the former USSR is seriously thinking about attracting foreign investors to develop its own industry. Particular emphasis is placed on the mining sector in the field of the extraction of precious metals.

According to analytical agencies, at the moment in Kazakhstan it is planned to develop a legislative framework, according to which the access of foreign capital to the domestic market of the country for investment purposes will be facilitated. According to preliminary estimates, the total volume of geological exploration in Kazakhstan will vary in the region from 50 to 100 licenses permitting such activities. It is assumed that the issuance of permits for the organization and conduct of development will begin by the end of 2015.

The greatest potential for the development of new deposits in Kazakhstan is marked by ore reserves of gold and copper, the country is among the top ten suppliers for these metals. Traditionally, Kazakhstan is rich in such raw materials as coal, the share of which in the total indicator for the mining industry is very high. In the context of falling main world prices for raw materials, the coal industry is still forming, due to the presence of the largest coal reserves in the territory. The reserves of oil and gas on the territory of the country are also confirmed; according to this indicator, the republic ranks 11th.

According to the government's plans, by 2017 it is planned to attract a significant amount of investment from abroad, according to preliminary estimates, it should amount to tens of billions of dollars.