Kazakhstan wants to attract foreign investments in subsoil
Kazakhstan wants to attract foreign investments in subsoil and this interest is justified. Over the past 5 years, the Kazakh geologists found nearly 500 tons of gold reserves, 8 million tons of copper reserves and almost one million tons of zinc in the deposits of Kazakhstan. New deposits of oil and natural gas have also been identified. Our country is ranked 6th among the countries rich in minerals. Since 2011, the inflow of investments in subsoil development has reached more than 12 trillion tenge. Almaty has hosted a conference dedicated to the 25th anniversary of Kazakhstan’s independence, where Kazakh geologists have been able to summarize the country’s achievements in the field of subsoil use, discovery of deposits of rare and expensive lithium used in manufacturing batteries for mobile devices and electric vehicles. Over the past six years, the price for a ton of lithium carbonate has grown from $1,000 to $14,000. The trend is persistent and will continue, experts say. The demand for this metal is growing. It is used in manufacturing of batteries for mobile devices and electric vehicles. There are many investors interested in this sector. Kazakhstan continues to improve the regulatory framework to make it more attractive for investors.
Bazarbay NURABAYEV, CHAIRMAN, KAZAKH COMMITTEE OF GEOLOGY AND SUBSOIL USE:
Amendments to the Mining Code are under development. Mining Code should be adopted by Parliament next year and, we will actively use new methods of granting the right of subsoil use in 2018. This will enable us to attract new investments.