Geological Exploration in Kazakhstan Needs Investments
Kazakhstan aims to elevate its exploration to a new level and increase the export of its manufacturing industry by 1.5 times, reaching $24 billion. The country is working on reforms to achieve a 30% growth in labor productivity by 2025 as set by President Tokaev. Kazakhstan is the leading global producer of uranium and holds the second-largest reserves, attracting French, Canadian, and Japanese investments. The nation’s domestic mineral resource base also attracts global interest, with 64% of solid mineral extraction and 85% of oil and gas extraction being foreign investments.
However, the country’s mineral resource potential is not yet fully explored, leading experts to suggest a shift in priorities from traditional mining to rare earth elements like germanium, tantalum, and niobium. These elements are in high demand for use in radio electronics and electrical engineering. Currently, only 12 sites in Kazakhstan are involved in the extraction of these elements, with reserves estimated at around 2 million tons.
The recently established National Geological Service aims to provide a comprehensive database for potential investors and address the lack of investment in geological exploration. MINEX Kazakhstan Forum in Astana, with 30 participating countries, presents an opportunity to discuss investment projects, technologies, and the latest achievements in the field of subsoil use.