Astana, Kazakhstan, Nov. 8
Daniyar Mukhtarov - Trend: Kazakh company Kazgeologiya JSC plans to sign contracts with the Australian-British Company Rio Tinto in the first quarter of 2014, Deputy Prime Minister of Kazakhstan Asset Issekeshev said at a conference on enhancing work in the field of geology and subsoil use, the Kazakh Ministry of Industry and New Technologies said in its statement.
'Currently prospecting projects are being developed using the approaches and new technologies of Rio Tinto. The project work is scheduled to be completed by late 2013 and the signing of contracts by early 2014. Work is expected to begin in the summer of 2014', the statement said.
According to the statement, $15 million is planned to be invested initially in the exploratory phase. Also a valuable contribution from Rio Tinto will be a transfer of advanced exploration technology and training of local experts.
Technology to develop the base of geological and geochemical data, scripts for three-dimensional modelling of arrays, methods of conversion of SRC resources into JORC standard resources, technology of spectral processing of the images of satellite data and laboratory analysis of detrital material for the determination of direct signs of ore will be considered for transfer.
In October 2013, the Rio Tinto Company was recognised as the strategic partner of Kazgeologiya on the implementation of projects on the exploration of porphyry copper ores in the Balkhash-Saryshagan area and Korgantas in the Karaganda region of Kazakhstan.