Kazakhstan's major mining company eyeing prospecting works at more sites

Business Materials 23 March 2021 08:10 (UTC +04:00)
Kazakhstan's major mining company eyeing prospecting works at more sites

BAKU, Azerbaijan, Mar. 23

By Nargiz Sadikhova - Trend:

Kazakhstan’s Tau Ken Samruk company is currently overseeing two major investment projects with company’s strategic partners. The company told Trend.

The company said that the country’s government comprehensively promotes the development of the industry and attracting investments in the mining sector.

So, in 2018, a new Code on Subsoil and Subsoil Use was put into effect, according to which the procedures for obtaining licenses and conducting exploration were significantly simplified.

"Currently, there is significant activity in the exploration market, the competent authority has issued more than 950 licenses. Taking into account the priority of geological exploration projects for the mining and metallurgical sector of the country, the company is also actively developing this area. Currently we are overseeing two large investment projects together with strategic partners," the company said.

Thus, the airborne geophysical work in the licensed territories is underway in cooperation with Fortescue Kazakstan. Another project is being implemented in cooperation with Discovery Ventures Kazakhstan and is at the stage of obtaining licenses. In addition, we plan to start prospecting work at 2 sites in the Aktobe region in the spring," the company said.

The company also said that the ongoing COVID-19 pandemic had no significant negative affect on the projects mentioned above.

Tau-Ken Samruk National Mining Joint Stock Company is a vertically integrated company to ensure the effective operation of subsoil use in the following fields:

Exploration, development, production, processing and marketing of solid minerals;

Effective management of shares of mining and metallurgic enterprises transmitted to the company;

Development and introduction of new high-tech and efficient technologies in mining industry;

Reproduction of mineral resources potential of the country;

Development of non-commercial reserves of deposits.


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