Kazakhstan exploration may attract KZT50 bln of private investment

NUR-SULTAN. KAZINFORM – Kazakhstan has adopted a new Code on Subsoil. Thus, the Australian model for issuing licenses has been introduced in the country, Kazinform reports citing the press service of the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan.

Currently, Kazakhstan has the potential to conduct geological exploration on an area of ​​1.2 million square kilometers. This, in turn, will attract qualified personnel and technologies. In this regard, the expected effect of attracting private investment will amount to more than KZT50 billion.

Within the period of 2014-2018, the total amount of foreign investment in this direction amounted to KZT122 billion. The main part was invested by Russian investors in Zholymbet, Aksu, Bestube, Suzdalskoye, Sentash, Karabulak deposits, the December and Kokbori. 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.