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About 800 billion tenge of private investment to be attracted to geological exploration development in Kazakhstan until 2025

About 800 billion tenge of private investment to be attracted to geological exploration development in Kazakhstan until 2025

At the Government session chaired by Prime Minister Askar Mamin, a draft Concept of the State Geological Exploration Program for 2021-2025 was considered.

The concept was introduced by the Minister of Ecology, Geology and Natural Resources Magzum Mirzagaliyev, reports on the relevance of approaches to the development of exploration in Kazakhstan were made by the President of the Kazakhstan Society of Petroleum Geologists Baltabek Kuandykov, Commercial General Manager of Shell Kazakhstan Aidan Murphy, General Director of Kazakhmys Barlau Galym Nurzhanov, Akims of the East Kazakhstan Region Daniyal Akhmetov, Karaganda Region – Zhenis Kassymbek, Chair of the Board of JSC SWF Samruk-Kazyna Akhmetzhan Yessimov, Deputy Prime Minister Roman Sklyar.

The State Geological Exploration Program for 2021–2025 under development will be aimed at ensuring geological exploration of the territory of Kazakhstan, replenishing the mineral resource base (increase in mineral reserves), scientific and research support for geological exploration of mineral resources, automation and digitalization, development of infrastructure and staffing for the geological industry, and also ensuring the socio-economic well-being of the country's population.

For the implementation of the state program, it is planned to allocate about 200 billion tenge from the state budget, as well as attract about 800 billion tenge of private investment.

The implementation of the State program will increase the geological additional exploration of areas from 94.5% to 100%, deep, geological and mineralogical mapping from 25.8% to 37%, reveal about 50 promising areas of solid minerals, increase the coverage of geological exploration of sedimentary basins: developed – up to 60%, little studied – up to 10%.

Growth is expected in forecast resources, including, gold – 200 tons, copper – 5 million tons, polymetals – 5 million tons, uranium – 50 thousand tons, hydrocarbons – 700 million tons. The number of employees in the geological exploration sphere will increase from 190 thousand to 250 thousand people.

“The first President – Elbasy Nursultan Abishevich Nazarbayev set the task of increasing the efficiency of traditional extractive industries and bringing Kazakhstan to the world geological exploration market. The Head of State Kassym-Jomart Kemelevich Tokayev instructed the Government to develop a state exploration program. The oil and gas and mining and metallurgical sectors must be provided with a sustainable raw material base. Existing deposits are gradually depleted. Moreover, at present, the knowledge of the territory of Kazakhstan is a little more than 25%,” said Mamin.

The prime minister emphasized that the effective implementation of the State Geological Exploration Program will allow attracting additional private investments of up to 4 tenge per 1 invested tenge. Replenishment of the country's mineral resources base, in particular, near single-industry towns, will have a positive impact on the economy and become a real basis for the development of industries.

“When the fields are discovered, new production complexes will be created, which will attract up to 6 trillion tenge of investments and create about 20 thousand additional jobs,” Mamin emphasized.

The prime minister noted the need to use new methods of geophysical research and remote sensing of the Earth when conducting geological exploration.

The prime minister instructed the Ministry of Ecology, Geology and Natural Resources by May 31, 2020, to ensure the introduction of the draft state program in the Government.

Source: primeminister.kz

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