Kazakhstan reports $1 billion in investments in geological exploration

Over the past six months, Kazakhstan issued about 500 licenses for geological exploration of solid minerals; 70 licenses were issued in May alone, according to Kanat Sharlapayev, minister of industry and construction.

«We have already introduced a decent order for obtaining exploration licenses. First come, first served. In May alone we issued 70 licenses for exploration. Over the past six months 500 licenses have been issued,» he said during the AMM 2024 forum.

As the official noted, investors’ interest in metal ore exploration in Kazakhstan is gradually growing. For instance, over the period from 2018 to 2023, the country raised more than $1 billion in private investments for exploration. More than $200 million of private investments was raised last year.

«The idea is very simple. We are going to search for big mineral deports in the vicinity of already existing fields. Kazakhstan has just a few competitors from this point of view. We are a country with massive reserves and there is a great chance we’ll discover new fields. I personally believe in this strongly,» the minister said.

He also pointed out that Kazakhstan is bound to improve its position in the global metals supply chain thanks to all these efforts.