Kazakhstan looks to expand geological exploration of country's territory
BAKU, Azerbaijan, Feb. 19
By Nargiz Sadikhova - Trend:
Kazakhstan is planning to attract nearly 800 billion tenge ($2.1 billion) in country’s geological exploration within the framework of the State Geological Exploration Program for 2021–2025, Trend reports with reference to the press office of Kazakhstan’s prime minister.
The program will be aimed at ensuring geological exploration of Kazakhstan’s territory, replenishing the mineral resource base, scientific and research support for geological exploration of mineral resources alongside automation, digitalization and infrastructure development for the geological industry.
Some 200 billion tenge ($530.8 million) are to be allocated from the state budget for the program’s implementation, whereas about 800 billion tenge ($2.1 billion) of private investment are to be attracted as a result of the program’s implementation.
The program will increase the geological exploration of areas from 94.5 percent to 100 percent; deep, geological and mineralogical mapping from 25.8 percent to 37 percent; reveal about 50 promising reserves of solid minerals; and increase the coverage of geological exploration of sedimentary basins.
Growth is also expected in forecast resources, including gold by 200 tons, copper by 5 million tons, polymetals by 5 million tons, uranium by 50,000 tons, hydrocarbons by 700 million tons.
“Replenishment of the country's mineral resources base, in particular, near single-industry towns, will have a positive impact on the economy and become a real basis for the development of industries. When the fields are discovered, new production complexes will be created, which will attract up to 6 trillion tenge ($15.9 billion) of investments,” the report said.
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