KZT12bln of foreign investment attracted to Kazakhstan's geological exploration sector in 5 years

According to the Ministry, the following investors came to Kazakhstan:

• Rio Tinto Mining and Exploration Limited, Skyfall LTD, Pallas Resources Limited , Нidden Owl Pty Ltd, Ivanhoe Mines Limited, East Star Resources PLC - Great Britian;
• Arras Minerals Corp, FQM Kazakhstan limited - Canada;
• FMG International Exploration PTE. LTD, Sarytogan graphite Limited – Australia;
• IG Asia LLC -  Australia- Singapore;
• Esan – Turkiye;

“The abovementioned foreign investors are involved in implementation of geological exploration projects for subsequent development. In this regard, the foreign investors were granted special licenses for the exploration of solid mineral deposits. According to the reporting data from subsoil users, the total volume of investments of these investors in Kazakhstan’s geological exploration is approximately 12 billion tenge: 3.4 billion tenge in 2021, 4.6 billion tenge in 2022, 4.0 billion tenge in 2023. There is no information for year 2024, as subsoil users submit their reports for the previous year by April 30, 2024,” the Ministry says.

Both junior and world giants including Fortescue, Barrick, BHP, First Quantum Minerals and Rio Tinto are operating in  Kazakhstan.

Rio Tinto and Fortesque are jointly exploring the territory of 13 square meters having already invested around 9 billion tenge.

The Korea Institute of Geoscience and Mineral Resources (KIGAM) together with Tauken Samruk have proceeded to the exploration of lithium deposits in the Aral Sea region. Barrick, BHP, Teck, First Quantum companies are actively conducting exploration works in order to identify deposits of international importance.

“Some ten companies plan to invest around 41 billion tenge in Kazakhstan’s geological exploration sector, which will let study the areas exceeding 25,000 square kilometers, the Ministry highlights.

“Following the auctions for subsoil use rights held in 2024, the total amount of budget revenues exceeded 5.7 billion tenge. The auction held on 21 mineral deposits on January 29, determined the winners with a total signature bonus of 20 billion tenge,” the Ministry said.

Earlier, Head of State Kassym-Jomart Tokayev called on to attract investment and advanced technologies to the production and processing of rare and rare-earth metals, including lithium.