BAKU, Azerbaijan, March 7. “Kazakhmys”, a Kazakh mining corporation, signed a memorandum of understanding with First Quantum Minerals, a Canadian-based mining and metals company, signed a Memorandum of Understanding for joint implementation of geological exploration projects in Kazakhstan, Trend reports, citing Kazakh Invest.
The document was signed in the framework of the first Kazakhstan-Canadian Mining Forum held in Toronto, Canada.
Kazakhmys also signed an agreement with Bureau Veritas for the creation of an international geochemical laboratory in Kazakhstan.
The representatives of the companies highlighted the vast potential of Kazakhstan’s mining industry and expressed their interest in fostering mutually beneficial relationships.
Economic relations between Canada and Kazakhstan steadily improve. Kazakhstan was a recipient of Canadian foreign direct investments amounting to $2.7 billion since 2011. Trade turnover between the two nations also increased drastically, with Kazakhstan and Canada increasing the turnover by 69.2 percent in 2022 to $838.6 million.