Kazakhstan predicts depletion of producing fields
NUR-SULTAN. KAZINFORM Kazakh Ecology, Geology and Mineral Resources Minister Serikkali Brekeshev told the Government meeting about the low state investments in the country’s geological exploration, Kazinform reports.
He reminded that Kazakhstan ranks among the world's top 10 countries with the most proven mineral minerals. «Due to intensive mineral production, the key challenge the geological sector facing now is the low replenishment of reserves. The reserves of many producing fields will deplete in the near future without relevant replenishment and current production rates. Thereupon, it is necessary to speed up state exploration which is one of the key approaches to detect promising areas and sites for subsequent transfer to subsoil use,» the Minister said.
As stated there, the Government invested only KZT 30 bln in 2020-2022. Kazakhstan has the lowest rate of public investments in geological exploration per 1 square km making USD 11 against USD 167 in Australia, and USD 203 in Canada.