Kazakhstan's Samruk-Kazyna aims to increase investments in geological exploration

Kazakhstan Materials 30 August 2023 16:01 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, August 30. Kazakhstan's Samruk-Kazyna National Welfare Fund has been tasked with increasing investments in geological exploration, Nurlan Zhakupov, CEO of Samruk-Kazyna, said on X (Twitter), Trend reports.

Zhakupov visited the domestic enterprises Kazatomprom, Khorasan-U, and Baiken-U. He noted that Kazakhstan possesses reserves that require further development.

Samruk-Kazyna is a Kazakh joint stock corporation and wealth fund that owns substantial ownership shares, either fully or partially, in a number of key domestic enterprises. The national railway and postal service, the state-owned oil and gas business KazMunayGas, the state uranium corporation Kazatomprom, and Air Astana are just a few of the important companies that make up its portfolio.

Kazakhstan had risen to the top spot in the world for uranium production by the end of 2022, producing 42 percent of the world's uranium. Kazatomprom was responsible for 22 percent of these numbers.

Kazatomprom is the world's largest uranium producer, specializing in the extraction of natural uranium. The company, together with its subsidiaries and joint organizations, is engaged in the development of 26 deposits through 14 uranium mining enterprises.