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KZT1.8bn allocated for geological explorations in E Kazakhstan in 2017

30 March 2017 10:11
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KZT1.8bn allocated for geological explorations in E Kazakhstan  in 2017

UST-KAMENOGORSK. KAZINFORM In recent years Kazakhstan has significantly increased the financing of geological exploration, Head of East Kazakhstan Interregional Geology and Subsoil Management Department of the Ministry of Investment and Development Serik Kelemanov said to Kazinform.

"In former times KZT500MM was the maximum of regular amounts allocated to us for solid minerals prospect evaluation survey, additional appraisal and hydrogeology survey, whereas the last 5 years financing of these types of works is made in more significantly", the head says.

According to Kelemanov, the first priority of the 3rd Modernization of Kazakhstan is prompt technology modernization of the economy closely related to intensification of comprehensive processing of raw materials. For this target it is necessary to solve several complex goals including expanding of the mineral resources base of the country. East Kazakhstan region is the largest ore mining area of the Republic of Kazakhstan.

As to the national objective of developing the mineral resource base, the financing increase in geological exploration is based upon the technology modernization goals. For instance, only in 2016 the National Treasury has allocated over KZT1.3bn to East Kazakhstan Interregional Geology and Subsoil Management Department. In addition, that year they completed works and obtained results for 6 additional sites.

The reporter asked Kelemanov to give the approximate quantity of additionally appraised fossil minerals, and he replied: 60 million tons of oxidized ores [of gold].

"For the year of 2017 for geological exploration the national budget has allotted KZT1.75 billion and additional KZT500 million purposed for prospecting and appraisal in 5 additional sites", the Head of the department concluded.

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Almas Zheksenbekov

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