Astana, Kazakhstan, Feb. 25
By Daniyar Mukhtarov - Trend:
Kazakhstan has begun the implementation of Big Altai - a unique ore province of Central Asia project, the Kazakh Ministry of Industry and New Technologies said on Feb.25.
"The Ministry of Industry and New Technologies and Kazzink LLP have signed a memorandum on cooperation in the sphere of geology. This document is aimed at increasing the mineral base in East Kazakhstan as part of the implementation of Big Altai - a unique ore province of Central Asia project, the ministry said.
Kazzink will invest at least 15 billion tenge ($ 1 - 184.5 tenge) within five years (2014 - 2018), in conducting of geological exploration works in the territory of Kazakhstan, according to the memorandum.
"The amount of investments in conducting the geological exploration works may change depending on the time Kazzink is provided with the rights of subsoil use for carrying out geological exploration works. The ministry ensures the providence of rights for subsoil use within the Ore Altai region and provides the necessary geological information in order to conduct coordinated geological exploration works," the ministry said.
Translated by L.Z.
Edited by C.N.