New amendments to the Code "On Subsoil and Subsoil Use" will attract more foreign investments. Procedures for obtaining the right to subsoil use and issuing the necessary permits were simplified. According to the amended mining code, the subsoil use project needs to undergo only one examination of instead of four. The terms of consideration of applications for exploration and production were reduced.

 

DAULET YESMAGAMBETOV, SPOKESPERSON, GOVERNOR’S OFFICE OF PAVLODAR REGION:

The procedure is very convenient for investors. Even Russian potential subsoil users are very interested in our legislative base, because it is easier for them to get the subsoil plot here.

 

Australian mining company and the national exploration company launched the exploration of titanium-zirconium deposits in Kostanay region. The first samples of mineral sand have already been taken.

 

KADYRZHAN KAUYLDASHEV, DEPUTY CHAIRMAN, KAZGEOLOGY:

They have been examining this project for two years. We analyzed geological and geophysical materials. Aerogeophysical work was carried out last year. Drilling work started this year after obtaining all the testing results.

 

Australian specialists together with "Kazgeology" are searching for similar deposits in three regions of Kazakhstan. The search for mineral resources unfolded on the territory of 50,000 square kilometers.

 

PAUL SMITH, SENIOR ADVISOR, AUSTRALIA:

 - From historical drilling these units are known to host titanium minerals and we have seen some titanium minerals within.

A joint project is not only the opportunity to introduce new technologies in geological exploration, but also attract investments. Foreign partners have already invested 4 million Australian dollars.

 

ANTHONY THORNTON, HEAD OF AUSTRALIAN MINING COMPANY:

 - Foreign investors especially in the mining sector the government’s reforms to introduce the new mining code of great interest to us. We are looking forward to see the results of that next year. We don’t know about the reserves yet. We need to find the economic concentration of minerals. The minerals are definitely here.

 

If there is a large titanium-zirconium deposit, the Australian company will build a mine and a concentrator in the region.

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