Rio Tinto Group, Kazgeology JSC to cooperate in subsurface use
ASTANA. November 8. KAZINFORM National Exploration Company "Kazgeology" JSC plans to enter into contracts with the British-Australian Rio Tinto Group in the 1Q of 2014, Vice Prime Minister of Kazakhstan Asset Issekeshev told a Friday press conference.
"The projects of prospecting works with the use of approaches and new technologies of London-based Rio Tinto Group are being developed. The prospecting works are to be completed by the end of this year and the contracts will be signed in early 2014. Field works will tentatively begin in summer 2014," A. Issekeshev said.
According to him, the volume of investments at the prospecting stage has amounted to $15 million. Rio Tinto Group will transfer its advanced prospecting technologies and train local specialists to conduct prospecting works based on its approaches.
Rio Tinto Group is Kazgeology's strategic partner in prospecting of porphyry copper ores at the Balkhash-Saryagash and Korgantas field in Karaganda region.