Ten Foreign Companies Involved in Geological Exploration in Kazakhstan

Private companies, especially Cove Capital и HMS Bergbau, have also been attracted in exploration of rare-earth metals in Kazakhstan.

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At a government meeting on Tuesday, Kazakh Industry and Construction Minister Kanat Sharlapaev announced that last year, 10 companies invested approximately 41 billion tenge in geological research across more than 25,000 square kilometers, with 8 billion tenge allocated for social commitments, The Caspian Post reports Kazinform.

Fortescue conducts exploration works at 32 sites in Aktobe, Karaganda, Abai and Zhambyl regions, investing around 4 billion tenge. RioTinto obtained over 10 exploration licenses in areas mainly located in Aktobe region, with the total investments of around 2.2 billion tenge. KIGAM jointly with Tauken Samruk begun to explore lithium reserves in Aral region, said Sharlapaev.

Barrick, BHP, Teck, First Quantum carry out exploration works to discover global-scale reserves.

Private companies, especially Cove Capital и HMS Bergbau, have also been attracted in exploration of rare-earth metals in Kazakhstan.

In May this year, an agreement was reached with the participation of Tauken Samruk and Ivanhoe to conduct joint geological exploration works at four sites in Ulytau, Kyzylorda and East Kazakhstan regions.