KAZAKH INVEST at ASTANA MINING & METALLURGY 2024
On June 6-7 this year, the V Coal Industry Forum on the theme "Development of the coal chemical industry: technological achievements and prospects" was held in Astana within the 14th International Mining and Metallurgical Congress framework. During the event, topical issues of development and attraction of investments in Kazakhstan's mining and metallurgical complex were discussed, and an exhibition of industrial enterprises was organized, where participants presented advanced technologies and equipment for prospecting, mining, and processing of minerals. Yerzhan Yelekeyev, Chairman of the Management Board of JSC "NC "KAZAKH INVEST, spoke at the thematic panels, among others.
The Chairman of the Management Board presented new investment opportunities for the production of high-tech goods from Kazakh coal to the participants. Y. Yelekeyev noted that the coal chemistry industry could become a new growth point for the chemical industry in Kazakhstan and contribute to the development of the manufacturing sector.
"Having an extensive resource base and an advantageous geographical location, we must realize the potential of the coal chemical industry. In total, more than 400 different products can be obtained by processing coal, the cost of which is 20-25 times higher than the cost of coal itself. With the deep processing of coal, it is possible to obtain products that cost 25-30 times more than raw materials. Currently, the share of coal products in Kazakhstan is 3% — this is an indicator of the low level of development of coal chemistry. The price of coal is lower and more stable than that of gas and oil. According to preliminary calculations, the unused potential is $25 billion," the Head of the national company said.
At the end of his speech, Y. Yelekeyev invited experts from the coal industry to cooperate and jointly implement investment projects, including by transferring modern technologies to localize production in Kazakhstan.
Also, within the framework of the event, Timur Izbasarov, Deputy Director of the Strategy Department of JSC "NC "KAZAKH INVEST," spoke at the session "Partnership of Kazakhstan and the European Union in the field of critical minerals." At the dialogue platform, the participants discussed the potential for developing projects to develop further and process rare earth metals. T. Izbasarov noted that according to the World Bank, there are more than 5,000 undiscovered deposits in the country worth more than 46 trillion US dollars. Therefore, there are great opportunities for investment and cooperation in this area.
The Astana Mining and Metallurgical Congress is one of the largest industry events in the mining and metallurgical industry. It opens up many platforms for dialogue and includes B2B and G2B meetings with the largest mining companies and representatives of Kazakhstan's government agencies, an exhibition, and networking.
