Attracting foreign investment in geological exploration
KazGeology JSC is the only national exploration company focused on the solid minerals market. In practice, foreign investors give preference to projects engaging state-owned organization as a partner.
Within this direction, KazGeology JSC provides full support to investors starting from the process of selecting sections, geological exploration and obtaining the subsoil use right.
To implement the Development Strategy for 2016-2025, as well as to attract investment in the geological industry, KazGeology JSC successfully cooperates with major mining companies, including Rio Tinto (Australian-British Concern), Ulmus Fund B.V. (Germany), Yildirim Holding A.S. (Turkey).
Under a strategic partnership with the above and other, including foreign companies, KazGeology JSC is implementing 44 investment exploration projects in the Republic of Kazakhstan. In 2021, the Company attracted about KZT 10,943 mln of investment. Exploration area of about 77.2 thous km2 was covered by the investment projects and the strategic indicators for 2021 were achieved. The Company plans to increase the amount of foreign investments in geological exploration up to USD 100 mln. by 2025. To this end, cooperation with potential investors is being negotiated.
KazGeology JSC has entered into a number of agreements and memorandums with such companies as AbuDhabiDevelopmental Holding Company (UAE), ADQ (UAE), Eni S.p.A. (Italy), Mescekers Ltd (Hungary), Prospectiuni S.A. (Romania), etc. Work on joint partnership with these companies continues and is at the stage of discussing the terms of cooperation.
Representatives of KazGeology JSC held negotiations with Kinross (Canada), Anglo-American (UK), Freeport – McMoRan (USA), etc. To date, the issue of further cooperation is at the stage of entering into the relevant agreements.
In addition, the interest of investors in joint implementation of investment projects with KazGeology JSC was confirmed at the international conference PDAC-2022, held in Toronto (Canada). Negotiations were held with the President of Condor Petroleum Inc. Don Streu, meetings were held with Exploration Mapping Group Inc., B2Gold, Scintrex, BRGM, NEW AGE METALS INC., Arras Minerals, Geological Survey of Finland, Orix Geoscience, Phoenix Geophysics, Kuvawala Core Drill Eqpt. Pvt. Ltd.
KazGeology continues to work with potential investors – meetings, negotiations and correspondence via electronic forms of communications.