UK-based mining company East Star Resources is preparing to begin drilling at the Verkhuba deposit in the East Kazakhstan region to explore its reserves. The project will be financed through to the production stage by Chinese Xinhai, with which the British company has formed a joint venture in the Astana…
Akmaya Tungsten, which plans to build a mining and processing plant at the Akmaya tungsten deposit in Kazakhstan’s Karaganda region, expects to export its products to the U.S., Europe, Japan and South Korea, according to a draft project report outlining potential development plans. The company said the project would help…
The logistics corridor through Kazakhstan is experiencing unprecedented growth. In 2025, Chinese cargo transit through the country reached a record 20.2 million gross tons, up 32% from the previous year and the highest level recorded in at least 13 years. According to Data Hub, the upward trend has continued for…
Eurasian Resources Group (ERG) plans to begin fieldwork soon to explore and potentially develop chromium deposits in Afghanistan, according to a Qazba.kz correspondent who recently visited Kabul with a Kazakh delegation led by Deputy Prime Minister Serik Zhumangarin. ERG may acquire a deposit in Afghanistan or form a joint venture…
The case involving NCOC, the operator of the Kashagan oil field, is still under review by Kazakhstan’s Supreme Court. However, Zhomart Aliyev, Kazakhstan’s vice minister of ecology and natural resources, said he believes the government will ultimately recover 2.356 trillion tenge (about $5 billion) in environmental fines from the consortium.…
Eurasian Resources Group (ERG) commented on reports of mass layoffs that had previously circulated publicly. One employee who contacted Kursiv.media’s editorial office said he had been told that he “didn’t have to come to work anymore.” Reports also claimed that the company planned to cut 20% of its workforce and leave…
One of China’s largest mining companies, Zijin Mining Group, has registered a new company, Tianshan Resources Co. Ltd., at the Astana International Financial Centre (AIFC). The development was reported by economist Arman Batayev on his Telegram channel, Finmentor.kz. The new entity was registered with an authorized capital of 5 million…
The average salary of oil and gas workers in Kazakhstan reached 1.8 million tenge ($3,600) in the first quarter of 2026, making the sector one of the country’s highest-paying industries. Among all sectors, only the tobacco industry reported a higher average salary, at nearly 2 million tenge, according to data…
Kazakhstan is introducing a new artificial intelligence-based system to analyze the gasoline and diesel markets. The system will enable state-owned oil and gas company KazMunayGas to monitor the entire fuel supply chain — from refineries to gas stations — and forecast consumption, according to the KazService, an association of oilfield…
Ulba-TVS, a producer of fuel assemblies (FAs) used as final nuclear fuel for Chinese nuclear power plants (NPPs), reported a profit of 11.83 billion tenge ($22 million) in 2025, compared with a loss of 16.06 billion tenge in 2024, according to the company’s financial statements. Revenue and profitability improve Gross…
Kazakhstan’s Minister of Energy Yerlan Akkenzhenov held a meeting on the implementation of a gas processing plant project at the Kashagan oil field with an annual capacity of 2.5 billion cubic meters of gas. He said the project has already entered the implementation phase, according to the Ministry of Energy.…
In May, Cove Kaz Capital Group LLC completed the acquisition of a 70% stake in Severny Katpar LLC, a Kazakh mining company previously under the umbrella of Samruk-Kazyna, Kazakhstan’s sovereign wealth fund. The asset includes development rights to the North Katpar field, one of the world’s largest tungsten deposits. A…
South Korea’s Hyundai Engineering has announced that it has secured a contract to build the Karachaganak Gas Processing Plant (GPP) in Kazakhstan. The news was first reported by Nurlan Zhumagulov, owner of the Energy Monitor Telegram channel; it was also confirmed by Hyundai Engineering in a post on its LinkedIn…
Kazakhstan could become a storage site for Iran’s uranium stockpiles if Washington and Tehran reach an agreement on a nuclear deal, the FT reported, citing Rafael Grossi, director general of the International Atomic Energy Agency (IAEA). Existing uranium bank Grossi noted that a facility for storing low-enriched uranium (LEU) already…
Planned maintenance work at Kazakhstan’s giant Kashagan oil field could be postponed, according to industry sources cited by PetroCouncil.kz and the energy publication Upstream. The 35-day maintenance campaign, covering both offshore and onshore facilities, was scheduled to begin June 1. Shareholders reportedly weighing postponement According to Upstream’s sources, shareholders in…
Turkish mining company CoreX Holding plans to increase explored resources at the Manka gold deposit in East Kazakhstan from 195,000 ounces to more than 400,000 ounces of gold, according to the company’s annual report cited by qazba.kz. The company plans to begin mining operations at the deposit in 2026 and…
Kazatomprom, the world’s largest uranium producer, reported net profit of 13.9 billion tenge (approximately $27.9 million) in the first quarter of 2026, according to the company’s unaudited financial statements. The figure represents a 56% decline compared with the same period in 2025. Read also: Why KazMunayGas and Kazatomprom are Kazakhstan’s…
Russia will provide Kazakhstan with an intergovernmental export loan to finance the construction of the country’s first nuclear power plant. The total financing package is estimated at approximately $16.4 billion, including about $2 billion allocated for social infrastructure and safety systems. Kazakhstan and Russia signed agreements outlining the key principles…
Kazakhstan’s Agency for Atomic Energy said active construction of the country’s first nuclear power plant will begin in 2027. Read also: Kazakhstan’s nuclear chess: Why China’s CNNC ‘loses’ first NPP, but still wins big. Agency spokesman Shyngys Ilyassov said that during Russian President Vladimir Putin’s ongoing state visit, Kazakhstan and…
Building a fourth large oil refinery in Kazakhstan with an annual processing capacity of 10 million tons could cost as much as $15 billion, including infrastructure expenses, according to Nurlan Zhumagulov, author of the Telegram channel Energy Monitor. Zhumagulov said the estimated price tag is comparable to the cost of…
The share of crude oil in Kazakhstan’s exports fell to a historic low of 44.4% in the first quarter of 2026. Strong growth in the non-oil sector helped offset losses from hydrocarbons, as record prices for copper, silver and sulfur boosted export revenues. Analysts say current geopolitical tensions could further…
The stock performance of Kazatomprom, the world’s largest uranium producer, has recently raised concerns among investors as shares in the national company continue to decline. According to stock exchange data, Kazatomprom shares fell to 32,790 tenge (approx. $70) during the afternoon trading session at 12:12 p.m. on April 21. Shares…
China is expanding its presence in Kazakhstan’s green energy sector, with Chinese companies involved in building a significant share of the solar and wind power plants scheduled to come online. Read also: China takes the lead in Kazakhstan’s renewable energy push. The share of renewable energy sources in Kazakhstan’s total…
Kazakhstan, together with Uzbekistan and Kyrgyzstan, plans to move into the practical construction phase of the Kambarata-1 Hydropower Plant project, according to Jamshid Khodjaev, Uzbekistan’s deputy prime minister. Read also: Kazakhstan to fund massive Kyrgyz dam for energy security. Khodjaev said the 1,860-megawatt Kambarata-1 HPP is expected to become the…
