Kazakhstan Mining Investment Promotion held at CHINA MINING 2022

On September 22, on the occasion of the Joint Statement on the 30th Anniversary of the Establishment of Diplomatic Relations between the People's Republic of China and the Republic of Kazakhstan, "Kazakhstan Mining Investment Promotion" (online) under the 24th China Mining Conference and exhibition (CHINA MINING 2022) , which is organized by Xi'an Center of China Geological Survey of the Ministry of Natural Resources China (China-SCO Geoscience Cooperation Research Center),

was successfully held. Tang Jinrong, secretary of the Party leadership group of Xi'an Center, CGS and executive deputy director of the China-SCO Geoscience Cooperation Research Center, presided over the meeting, and Li Jianxing, director of Xi'an Center, CGS, delivered a speech. Nearly 100 people, including representatives of the Embassy of Kazakhstan in China, academicians of the Kazakh Academy of Engineering, representatives of 7 Kazakh enterprises, including the representative office of Kazakhstan National Investment Corporation in China, Kazakhstan National Geological Exploration Corporation ("Kazgeology" JSC), Kazakhstan National Mining Corporation, and more than 30 well-known Chinese mining enterprises, attended the meeting.

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The participants presented keynote reports on three aspects: mining projects promotion, investment experience sharing and future cooperation prospects. Kazakhstan National Geological Exploration Company ("Kazgeology" JSC), Kazakhstan National Mining Company, "Ulmus-Besshoky" JSC, Bades Baiken Mining Company and Badestau Mining Company introduced 16 mining projects in detail from the aspects of infrastructure, geological background, resource reserves, existing exploration work, cooperation intention, etc., involving gold, silver, copper, lead zinc, tungsten, rare earth and other minerals, and many of these prohects have good investment prospects. For example, (1) The Besshoky porphyry copper mine exploration project, located in the famous Balkhash porphyry copper (molybdenum) metallogenic belt in Central Asia, covers an prospecting right area of 1338 square kilometers, with a control + inferred copper resource of 1.02 million tons and a copper grade of 0.36% to 0.77%. It is planned to finance about 300 million US dollars for further exploration. (2) The Polshtukenkin polymetallic exploration project in the important quartz –vein-type gold-sulfide deposit concentration area in south Kazakhstan has a mining right area of about 70 square kilometers, with a predicted gold resource of 40 tons and an average grade of 5 g/ton. (3) The transfer project of Sharkya lead-zinc mine in Kyzylorda, Kazakhstan, has ore resources of more than 100 million tons, zinc grade of 3.31%, and lead of 0.9%. The project is planned to invest 680 million US dollars, with a designed capacity of 4 million tons/year, and a service life of 32 years.

At the meeting, Ma Liang, director of business development dept, CGNPC Uranium Resources Co., Ltd., shared investment experience in China-Kazakhstan uranium resources cooperation. Ma Zhongping, deputy chief engineer, Xi'an Center, CGS and secretary-general of China-SCO Geoscience Cooperation Research Center, reported the progress of China-Kazakhstan geological and mineral cooperation. Liu Mingyi, a senior engineer, based on the sorting and screening of Kazakhstan's mining projects in the early stage, highlighted 10 mining projects to Chinese enterprises.

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Kazakhstan Mining Investment Promotion under the CHINA MINING 2022 held online. [Video Capture]

Representatives of Zijin Mining, Jinchuan Group, China Metallurgical Copper and Zinc Corporation, Shandong Zhaojin Group and other enterprises had in-depth exchanges with Kazakhstan participants on cooperation methods, construction requirements, approval process, equity ratio, export restrictions, foreign exchange control and other specific issues, and inquired in detail about the participation of foreign investment in mining development in Kazakhstan, including mineral category restrictions, shareholding ratio restrictions, approval time limit for exploration and mining, and so on. Kazakhstan provided detailed answers to relevant questions.

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Li Jianxing, director of Xi'an Center, CGS, delivered a speech at Kazakhstan Mining Investment Promotion (online). [Video Capture]

Li Jianxing, director of Xi'an Center, CGS, pointed out in his speech that Kazakhstan is rich in mineral resources and has huge investment potential. China is one of the world's largest consumers of mineral resources, with strong demand for mining investment and cooperation. China and Kazakhstan has great potential and broad prospects for cooperation in the fields of geological and mineral survey and mining investment. He said that Xi'an Center, CGS will, as always, support and rely on the China-SCO Geoscience Cooperation Research Center, continue to build a bridge for the cooperation between China and Kazakhstan in geoscience research and mining investment, provide platform, information and technical support, and serve the prosperity and development of the mining economy of China and Kazakhstan.

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Zholtaev Geroy Zholtaevich, academician of the National Engineering Academy and director
of the Institute of Geological Sciences of K.I. Satpayev Kazakhstan,
delivered a speech at Kazakhstan Mining Investment Promotion (online). [Video Capture]

Zholtaev Geroy Zholtaevich, academician of the National Engineering Academy and director of the Institute of Geological Sciences of K.I. Satpayev Kazakhstan, said that the geological structures and metallogenic belts of China and Kazakhstan are connected with each other, and the comparative study of the special geological structures and metallogenic geological background in the border areas of the two countries is of great significance for regional geological science research and mineral resources exploration. Academician Zhuotayev suggested that both sides should strengthen joint research on geology and mineral resources in the border area between China and Kazakhstan, and make contributions to the innovative development of geosciences and breakthrough in prospecting of the two countries.

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Kuanysh Amantay, General Representative of "KAZAKH INVEST" in China,
delivered a speech at Kazakhstan Mining Investment Promotion (online). [Video Capture]

Kuanysh Amantay, General Representative in China at the National Agency for Investment Promotion and Support, "KAZAKH INVEST", introduced the investment environment of Kazakhstan from the aspects of geographical advantages, business environment, protection of investors’ right and interests and preferential policies. He said that as an important channel connecting the Eurasia, Kazakhstan has a sound financial system, legal system, investment protection system, and the appropriate preferential policies such as taxation and administrative approval. Mining is a key industry in Kazakhstan to attract investment. Kazakhstan welcomes Chinese mining enterprises to invest in Kazakhstan and carry out mutually beneficial cooperation.

Through full exchanges and discussions, the cooperation needs of the two sides have become more focused and the goals have become clearer. Many Chinese enterprises indicated that they would continue to make in-depth connections with relevant enterprises of Kazakhstan and conduct field visits on specific projects. It is reported that Northwest Branch of Zijin Mining is drafting a letter of intent for cooperation on the copper and gold mine project promoted by Kazakhstan this time, and is in the process of in-depth docking. The meeting was rich in content and pragmatic in topics, with strong response from representatives of China and Kazakhstan. It laid a foundation for China and Kazakhstan mining enterprises to carry out specific project docking and negotiation in the next step, and became a starting point to further tap the potential of mining investment cooperation between China and Kazakhstan.

Kazakhstan is the "bellwether" of economic development in Central Asia and one of the countries with the richest mineral resources in the world, with a developed mining economy and an open mining market. In recent years, the Kazakh government has attached great importance to the development of mining industry, formulated a new law on the use of underground resources, introduced the international standard for mineral reserves assessment (CRIRSCO), adopted the principle of "first come, first served" when handling licenses, simplified the examination and the approval of mineral mining rights, and licenses could be obtained within 10 days at the earliest. At the same time, the National Geological Survey was established to establish a unified online geological information service system, improve the information service level, continuously optimize the investment environment, and enhance the attractiveness of mining investment.

Kazakhstan is an important neighbor of China and an important partner in geoscience research and mining investment cooperation. In recent years, the Xi'an Center CGS under the Ministry of Natural Resources China, relying on the platform of the China-SCO Geoscience Cooperation Research Center, has continuously deepened cooperation with Kazakhstan's geological and mineral institutions and enterprises in the field of geoscience research and mining investment by organizing high-level meetings, implementing joint projects, building mining investment platforms, etc. It has made a positive contribution to promote the investment cooperation of the upstream and downstream and the whole industrial chain of the mining industry between China and Kazakhstan.

The Joint Statement on the 30th Anniversary of the Establishment of Diplomatic Relations between China and Kazakhstan, which was issued on September 15, stated that "the two sides are willing to further deepen practical cooperation in the field of geosciences, continue to carry out geological and mineral cooperation survey and research, and tap the potential of bilateral mining investment cooperation to serve the economic and social development of both sides."

In the next step, Xi'an Center CGS will also, in accordance with the requirements of the future cooperation plan in the field of geology and mineral resources between China and Kazakhstan in the Statement, seize the opportunity of the next "golden 30 years" of China-Kazakhstan bilateral relations, continue to strengthen cooperation with Kazakhstan in the field of geoscience research and mining investment based on the platform of the China-SCO Geoscience Cooperation Research Center, promote the innovation and development of geological science and technology and the prosperity of mining economy of both countries to serve the economic and social development of both sides. (By He Zixin from Central and Western Asia Geological Survey Cooperation Center ) (Translated by Tianjin Minexpo)