Authorities want investors to develop new reserves of gold, silver and titanium in Kazakhstan

The Ministry of Industry and Infrastructure Development is going to conduct an auction for gold, silver, coal, bauxites and titanium fields on May 26, according to Iran Sharkhan, deputy minister of industry.

«On May 26, 2023, we are going to conduct an auction for mineral licenses. By doing this we want to attract investments in 25 mineral fields that aren’t in use so far. The auction will cover minerals such as gold, silver, phosphorites, quartzites, baryta, coal, bauxites and titanium,» the official said during the MINEX Qazaqstan conference.

Shakhran encouraged those who’d like to participate in the auction to apply before May 5. Applicants are also expected to pay a subscription bonus of $3,818.

In addition, the country’s government is preparing an additional auction for 30 other mineral reserves that have been designated by the ministry as unused.

The deputy minister of the industry also recalled an online tool launched by the government to simplify the license-issuing process. This system has been working in the test regime since November 1, 2022. With the help of the minerals.gov.kz website, investors can get a license online and download any of more than 30,000 geological reports.

The ministry is also developing a new packet of amendments to the Natural Resources Code in order to improve procedures associated with license issuing. For instance, if these amendments are adopted, mineral developers will face fewer bureaucratic obstacles and paperwork. Moreover, Kazakhstani officials have promised that all suggestions about state regulation by mineral developers will be taken into account.