Kazakhstan sits on top of vast mineral wealth, still lags behind in mining - Zhangurazov

ASTANA. KAZINFORM - Kazakhstan sits on top of vast mineral deposits, but falls behind in mining and mineral processing, Chairman of the Board of KAZNEXT INVEST National export and investment agency JSC Borisbiy Zhangurazov said at the Kazakhstan-Hungary Business Forum in Astana on Wednesday.

"Kazakhstan certainly has great potential in terms of processing of mineral resources in has in abundance", Mr. Zhangurazov noted at the forum. He added that Kazakhstan ranks 12th in the world by proven oil reserves and 8th by proven coal reserves. "We lag behind in terms of mining and processing of these resources. But we are sure there is great potential for further mining and mineral processing in Kazakhstan", he said. According to him, Kazakhstan's economy is developing robustly and its GDP growth is expected to exceed 4% this year.