MineInvest Kazakhstan – the 4th competition accelerator of mineral resources development projects

This competition is designed specifically for subsoil users who want to create a positive perception of investments in the exploration, production, and modernization of the mining industry in Kazakhstan.

Kazakhstan is one of the top ten countries in the world in terms of confirmed reserves of various minerals, with over 8,000 deposits registered on the state register of the country. However, with the current intensive production, the country is close to depletion, which is why the government is working to create favourable conditions for the reproduction of the mineral resource base. As part of this effort, the government is conducting an audit of subsoil use licenses and assessing their contribution to economic and social development. As a result, the state plans to attract new investors to the development of mineral resources. In 2022, the growth of foreign investment in the mining industry was 18.3%. By 2026, the study of the territory of Kazakhstan is expected to increase by 680,000 square kilometres, covering a total of 2.2 million square kilometres.

The competition aims to assess projects related to the exploration and prospecting of deposits containing precious, non-ferrous, rare, and rare earth metals, iron ore, precious and semi-precious stones, and uranium. It will also evaluate initiatives to expand the mineral resource base of existing mines and tailings, as well as projects focused on the production of strategic metals and the development of innovative products using these metals.

To participate in the competition, projects must fall into one of the following categories: exploration and prospecting of deposits of precious, non-ferrous, rare, and rare earth metals, iron ore, precious and semi-precious stones, and uranium; increasing the mineral resource base of existing mines and tailings; or development of production of strategic metals and innovative products based on them.

Applications for participation in the competition will be accepted until 13th March 2023. Participation in the competition is free of charge, and in the case of reaching the final, participants will have the opportunity to present their projects to the jury and participants of the forum in Astana. Participation in the MINEX Kazakhstan Forum is possible on a commercial basis.

The competition is divided into two groups: one for projects carried out by large companies and organizations, and the other for projects developed by junior mining companies in the field of geological exploration. Large-scale projects are defined as those developed in 2020-2023 in Kazakhstan and the countries of Central Asia for a significant expansion of the mineral resource base through the discovery of new deposits and exploration at operating mines. The assessment will take into account confirmed reserves estimated by the KAZRC Code or one of the international reporting standards of the CRIRSCO group, the amount of financing, uniqueness, complexity in implementation, and the use of innovative methods and technologies.

The competition has several stages, beginning with the submission of applications and supporting documentation by March 20th. The jury will then review the applications and select the finalists, who will be invited to present their projects to the jury and participants of the forum in Astana. The winners of the competition will be announced at the MINEX Kazakhstan Forum, which will take place on 21-22 April 2023 in Astana.

We encourage all eligible mining businesses and entrepreneurs to take advantage of this opportunity to showcase their projects and attract investors and financing in Kazakhstan and Central Asia. For more information and to apply, please visit the MineInvest Kazakhstan website or contact us at admin@minexforum.com.