Foreign investors push for precious metal exploration in Kazakhstan

International companies have invested approximately $23.7 million in geological exploration in Kazakhstan, according to the Ministry of Industry and Construction. The government hopes this investment will help enhance the country’s exploration maturity and identify promising mineral deposits.

«Among Kazakhstan’s strategic partners are Rio Tinto Mining and Exploration Limited (UK), FQM Kazakhstan Limited and Arras Minerals Corp. (Canada), Sarytogan Graphite Limited, Hidden Owl Pty Ltd, IG Asia LLC (Australia/Singapore), Esan (Turkey) and many other international entities from Europe. These companies have obtained licenses for the exploration of solid minerals and have already invested about $23.7 million in geological exploration,» the ministry said in a statement.

The exploration projects are focused on identifying prospective mineral fields for future development. The ministry expects that this activity will create new opportunities for Kazakhstan’s economy and support regional development.

Officials note that the influx of large foreign companies in recent years, especially those targeting world-class exploration projects, has been driven by consistent efforts to improve the investment climate in Kazakhstan’s subsoil use sector.

As of 2024, exploration maturity in Kazakhstan covers 2.014 million square kilometers, a figure expected to increase to 2.038 million square kilometers this year. To support this effort, the government allocates approximately $14.8 million annually for geological exploration across the country.

Additionally, from 2018 to 2023, Kazakhstan attracted over $1 billion in private investment for geological exploration. In 2023 alone, private investments for that purpose amounted to $200 million.