Kazakhstan to invest $200 million in mining industry development

Photo: Kazakhstan to invest $200 million in mining industry development / Finance

Astana, Kazakhstan, Aug. 22

By Daniyar Mukhtarov - Trend:

More than $200 million will be spent on the development of mining industry in the Kazakh city of Zhezkazgan, the President of Kazakhstan Nursultan Nazarbayev said on Aug. 22 at the commissioning ceremony opening two new railway branches- Zhezkazgan-Beineu and Arkalyk-Shubarkol.

He said that Zheskazgan has always been in the focus of government's attention.

"Over the past years due to the depletion of copper ore we were faced with difficulties, and Zhezkazgan copper smelter was forced to stop. I ordered the government to develop a special program under the Economic Development of Zhezkazgan industrial region. Some $240 million were allocated for resettlement in other places from the villages standing on the ore bodies," he said.

He added that this was done in order to obtain a richer ore (in the amount of two million tonnes of copper) than before, and to run a copper smelter in Zhezkazgan.

At the same time, Nazarbayev said he had instructed the "Kazakhmys" corporations to ensure the payment of wages to the workers of the plant, which currently does not operate.

The Head of State noted that the copper smelter will be put into operation in November, and people will return to their workplaces.

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