Kazakhstan occupies 7th place in the world for iron ore reserves
Experts discussed prospects for the development of Kazakhstan’s mining and metallurgical industry. Astana hosted the eighth specialized international congress. Nearly 500,000 people work in the industry. Kazakhstan occupies 7th place in the world for iron ore reserves and the 33rd for steel production. The mining and metallurgical complexes make up more than 18% in the overall industrial production. According to Deputy Prime Minister Askar Mamin, who opened the congress, metallurgical industry sees positive trends.
ASKAR MAMIN, FIRST DEPUTY PRIME MINISTER OF KAZAKHSTAN:
- Kazakhstan’s economic growth made up 3.7 % over the last 4 months. The volume of industrial production was 107.1 %, including, mining at 107.8 %, and manufacturing at 106.8 %. The branch agency introduces new initiatives. Businessmen and experts were involved in preparation of a draft Code on Subsoil.
The officials are set to attract investments into the industry, including foreign investments. Specialists say it will entail amendments in tax, customs and subsoil use legislation.
NIKOLAI RADOSTOVETS, DIRECTOR, ASSOCIATION OF MINING AND METALLURGICAL ENTERPRISES:
- Discussions on improvement of investment climate are underway. The waste that has been accumulated since 1992 should be given to investors so they could work with it
The industry’s major players intend to actively develop production. The Russian Polymetal management plans to develop a new deposit in Kostanay region, the president of the joint-stock company says. Aerial and geo-physical exploration will begin on the site this year. It will attract a Kazakh-Canadian company. Polymetal is the largest silver producer and one of the leading gold miners in Kazakhstan.
IGOR FINOGENOV, PRESIDENT, POLYMETAL INTERNATIONAL PLC:
- At present, we are focused on the development of Komarovsk deposit that yielded good results and the implementation of the ‘Kyzyl’ gold mine project. We are planning to release the first products in the first quarter of 2018. Everything is being done according to the plan. We are planning to produce 14 tons of gold by 2020.