Mining is one of the key industries in Kazakhstan’s economy

Mining is one of the key industries in Kazakhstan’s economy. According to experts, the industry continues to grow. In the first seven months of this year, the volume of industrial production in the mining industry grew by 5.4%. This is due to the launch of major projects including the Bakyrchik mining enterprise with the participation of a Russian investor. The Bakyrchik deposit, which is one of the largest gold reserves in Kazakhstan, has not been used for 70 years. The project is expected to produce 10 tonnes of gold, which will make 14% of the total production volume in the country. This year a cathode copper production plant has been launched in the Karagandy region with the production volume of about two million tonnes of copper. As part of the Digital Kazakhstan program, digital transformation of mining and metallurgical enterprises is conducted throughout the country.

YERNAR SARZHANOV, SPOKESPERSON, INDUSTRIAL DEVELOPMENT COMMITTEE:

 - We have selected six enterprises that implement 14 digital transformation activities. The ERP system has been successfully implemented in ERG and the Smart Career system is being implemented at the site of the Sokolovsko-Sarbaiskoe Mining and Processing Enterprise. This year we are expecting for the development of a system, which calculates the balance sheet of a titanium and magnesium plant in Oskemen, which makes up 13% of the titanium industry in the world.

A lot of attention is being paid to increase the investment attractiveness of the mining industry. The Institution of the Investments Ombudsman has been established in the country to protect the rights and interests of investors. In addition, in July this year, a new code on subsoil use came into force. The document simplified a procedure for granting the subsoil use right. If earlier an investor spent two years for this, then now this problem is solved within a month.

YERNAR SARZHANOV, SPOKESPERSON, INDUSTRIAL DEVELOPMENT COMMITTEE:

 - Considering that all the stocks are completely transparent, procedures for obtaining deposit are simplified. All these criteria together give investment appeal for today.

Experts say that the mining industry helps Kazakhstan to be competitive in the world and significantly contributes to the economic development.