China has imposed new restrictions on exports of rare earth elements. These materials are key to advanced technologies. The move expands China’s control over a supply chain vital to global manufacturing, as the country produces about 61% of the world’s rare earth supply and handles over 90% of the industry’s…
Clean energy has reached a historic milestone. For the first time, wind and solar power have generated more electricity globally than coal, signaling a decisive shift in the world’s energy landscape, according to The Guardian, which cited a report by the climate think tank Ember. This achievement was highlighted during…
Gold prices surged to a new record above $3,900 an ounce in early Asian trading on Monday, as investors sought safety in the metal amid an ongoing U.S. government shutdown and growing expectations of further interest rate cuts by the Federal Reserve, according to Reuters. Spot gold jumped 0.6% to…
Kazatomprom, world’s largest uranium producer, said it will not issue new shares or pursue an additional public offering. The company confirmed this to Arman Batayev, author of Finmentor.kz Telegram channel. The statement followed a Bloomberg report on Oct. 2 that suggested Kazatomprom was considering an additional listing on international exchanges…
Kazakhstan aims to increase the number of local specialists in senior roles at the company operating the Karachaganak field. This field is one of the world’s largest oil and gas condensate sites, located in the country’s northwest. KazMunayGas (KMG) CEO Askhat Khassenov and Luca Vignati, Eni SpA’s upstream director, discussed…
Yellow Cake, a British firm focused on uranium, has raised $175 million by issuing approximately 23 million new shares to institutional investors. With a portion of the proceeds, the company aims to purchase uranium from Kazakhstan. Priced at £5.64 each, the new shares accounted for 10.6% of the pre-transaction capital.…
Kazakhstan aims to become one of the top three global sunflower oil exporters by 2028, according to Agriculture Minister Aidarbek Saparov. At a recent government meeting, Saparov said that the industry targets $1 billion in annual revenue by 2028 and seeks to rank among the top three global suppliers of…
Azmat Asimov, a resident of Astana, Kazakhstan’s capital, has announced on Facebook his intention to sue Saudi Aramco, the world’s largest oil producer, for alleged unfair dismissal. Asimov said he was dismissed in 2020 while seriously ill, to the point of disability. He claims management canceled his scheduled medical exam,…
Before wrapping up his four-day visit to China on Sept. 3, Uzbek President Shavkat Mirziyoyev met with Shen Yanfeng, head of the China National Nuclear Corporation (CNNC). This move was widely interpreted as Tashkent exploring alternatives should its tentative nuclear deal with Russia’s Rosatom stall, Eurasianet.org reported. Russia’s Rosatom is…
Kyrgyz President Sadyr Japarov announced the launch of an underground gold mining project at Kumtor, Central Asia’s largest gold mine, as reported by Interfax Kazakhstan. «The underground gold mining project is set to operate for 17 years, with geological reserves of 147 tons of gold officially added to the national…
A recent environmental report shows China added more coal power plant capacity in the first half of 2025 than in any year since 2016, despite having significant renewable resources, according to DW.com, citing the Center for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM). The findings…
Kazakhstan’s processing industry has shown steady growth, with output reaching approximately $29.6 billion in the first seven months of 2025. According to the Ministry of Industry and Construction, the processing industry grew by 6.1%, with its share in the country’s economy reaching 13.9% over the period from January to July…
Kazakhstan’s largest gold producer, Kazzinc, 70.2% of which is owned by Switzerland-based Glencore, reduced zinc production from its own sources to 61,800 tons in the first six months of 2025, down 3% year-on-year (YoY), according to Glencore’s report. Meanwhile, zinc in concentrate production rose by 13% to 37,200 tons, while…
Kazakhstan has received $365 million in dividends from Eurasian Resources Group (ERG) that had been frozen in Luxembourg, Finance Minister Madi Takiyev said at a recent government briefing. «This year, we received $365 million in dividends for previous years,» Takiyev said. «For 2024, the financial statements have just been completed;…
The co-founder of the Save the Caspian Sea movement, Vadim Ni, has filed a lawsuit against Kazakhstan’s Ministry of Energy, demanding that the production sharing agreements for the country’s largest oil projects — Kashagan, Tengiz and Karachaganak — be made public. Ni told Kursiv.media that the case has already reached…
KMG PetroChem, a subsidiary of Kazakhstan’s national oil and gas company KazMunayGas (KMG), has signed an engineering, procurement and construction (EPC) contract with Tecnimont S.p.A. of Italy and Consolidated Contractors International Company (CCIC) of Lebanon for the construction of a gas separation facility (GSF) at the Tengiz field, KMG announced.…
An administrative court in Astana has overturned a $4.2 billion environmental fine imposed on the North Caspian Operating Company (NCOC), the operator of the Kashagan oil field, citing procedural violations by the regional environmental authority. The court emphasized that its decision to nullify the order issued by the Atyrau Regional…
Eight OPEC+ countries — Saudi Arabia, Russia, Iraq, the United Arab Emirates (UAE), Kuwait, Kazakhstan, Algeria and Oman — have agreed on a quota increase of 547,000 barrels per day (bpd) for September, according to a statement on the organization’s website following the Aug. 3 meeting. In particular, Kazakhstan’s quota…
Oil majors developing the Kashagan field — Kazakhstan’s largest oil and gas field on the Caspian shelf — have won a $4.2 billion environmental dispute in an Astana appeals court, according to Bloomberg. Sulfur dispute The case stemmed from a 2022 fine imposed by Kazakh authorities over excessive sulfur storage…
President of Kazakhstan Kassym-Jomart Tokayev believes the country has strong potential to become the leading air hub in the region. To achieve this, he emphasized the need to boost both passenger and cargo transportation. Speaking at an event dedicated to Transport Workers’ Day, the president highlighted that the most critical…
U.S. President Donald Trump has signed an executive order imposing a 25% tariff on imports from Kazakhstan, part of a broader trade move affecting more than 70 countries. The order, titled «Further Modifying the Reciprocal Tariff Rates,» was published July 31, 2025, on the White House website. Previously, imports from…
The European Union has created an exemption in its 18th sanctions package allowing Kazakh coal to transit through certain Russian ports, Kazakhstan’s Ministry of Trade and Integration announced. According to the ministry, the exemption applies only to coal of Kazakh origin. Additionally, the cargo must be owned by entities not…
The Caspian Sea, the world’s largest inland body of water, has reached its lowest level in recorded history, dropping below minus 29 meters based on the Baltic height system (BHS-77). The sharp decline has particularly impacted the shallow northern part of the sea, which borders Kazakhstan and Russia, according to…
Shares of KazMunayGas (KMG), Kazakhstan’s national oil company, have surged more than 25% over the past two months, despite a lack of clear catalysts, according to data from the Kazakhstan Stock Exchange (KASE). Steady growth Since May 22, 2025, KMG stock has climbed steadily, reaching 18,699 tenge (nearly $35) per…
