Kazakhstan invests KZT 1 trillion for geological exploration
09:20, 6 June 2014
ATYRAU. KAZINFORM - Kazakhstan is investing more than KZT 1 trillion for searching new deposits of gold, copper, base metals, oil and gas.
"In the next five years state budget will allocate KZT 120 billion for geological exploration. National companies will actively participate in the exploration works and invest KZT 900 billion", said Bazarbay Nurabayev, head of the Committee on Geology and Mining under the Ministry of Industry and New Technologies, during a meeting with mining companies in the city of Atyrau.
The adopted program of geological exploration covers all regions of the country which have promising deposits of solid minerals. In the search for oil and gas, emphasis will be placed on the Caspian Basin, in particular, Atyrau and Mangystau regions.