ASTANA. KAZINFORM The Kazakh-Canadian Business Forum «New Horizons of Cooperation in Mining» was held in Toronto with the participation of Deputy Minister of Foreign Affairs Almas Aidarov. The forum discussed new horizons of cooperation in the mining industry, Kazinform learnt from the press service of the KAZAKH INVEST National Company JSC.
The event was organized by the Embassy of the Republic of Kazakhstan in Canada and KAZAKH INVEST with the support of the Canadian company «Hatch» within the framework of the largest international miners and prospectors conference «PDAC-2023».
The business forum was attended by representatives of government bodies, and business associations, as well as top managers of leading Canadian companies such as Hatch, CAMECO Corporation, B2Gold, Arras Minerals, Nutrien, Teck Resources Limited, Ion Energy, and others. In total, about 150 delegates participated in the forum.
The trade turnover between Kazakhstan and Canada in 2022 amounted to 838.6 billion dollars, which is 69.2% higher than for the same period last year. Since 2011, the inflow of direct investments from Canada to the economy of Kazakhstan amounted to about 2.7 billion dollars.
Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Almas Aidarov noted in his speech that Kazakhstan highly values long-term cooperation with Canada, based on strong bonds of friendship, shared values and mutual support. According to him, Kazakhstan is today the largest trade and investment partner of Canada in Central Asia. He emphasized that this event should become an excellent tool for exchanging experience and developing cooperation in the important mining sector of the economy for both countries.
Senator of the Parliament of Canada Victor Oh and Vice-Minister of Industry and Infrastructure Development of the Republic of Kazakhstan Iran Sharhan, in their welcoming addresses to forum participants, expressed the common desire of both sides to expand investment cooperation.
The President of the Ontario Chamber of Commerce, Rocco Rossi, noted the great potential for the development of bilateral relations and emphasized that large Canadian companies are showing increasing interest in implementing investment projects in Kazakhstan.
Deputy Chairman of the Board of KAZAKH INVEST National Company Zhandos Temirgali, in his speech, spoke about the investment opportunities provided by Kazakhstan, as well as measures of state support.
«Kazakhstan and Canada have a lot in common, including climate, multicultural society, and, importantly, the structure of the economy. Over the past decade, the inflow of direct investments from Canada to Kazakhstan has amounted to about 2 billion dollars. Currently, the pool of joint projects with the Canadian side consists of 11 projects worth a total of 1.4 billion dollars in such industries as mining and metallurgy, energy, agriculture, engineering, and others. There is a huge potential for expanding cooperation in the development of strategic mineral deposits necessary for the creation of high-tech industries,» said Zhandos Temirgali.
During the forum, the Chairman of the Committee of Geology of the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan, Yerlan Akbarov, also spoke about promising investment directions in mining and metallurgy.
«Kazakhstan provides a wide field of activity for companies that possess modern technologies and are ready to create mining and processing industries. Government has done a great deal of work to improve legislation, as well as to search for promising deposits in the territory of the Republic of Kazakhstan» – stated Erlan Akbarov.
The panel sessions of the forum were attended by the Chairman of the Board of Qazaq Geophysics, Bekassyl Aukeshev, the Chairman of the Board of Grey Wolf Management, Kanat Kudaibergen, and the Chairman of the Board of National Mining Company «Tau-Ken Samruk», Bakhyt Chirchikbayev.
Speakers from the Canadian side included Managing Director of Hatch Advisory, Markus Rebmann, Vice President of Cameco, Caroline Gorsalitz, President of Arras Minerals, Darren Klinck, President of the Ontario Chamber of Commerce, Rocco Rossi, Managing Director of Hatch Africa, Europe and the Middle East, Nico Smit, and Head of the Natural Resources Department of the EBRD, Natalia Lacorzana.
Speaking at the event, Canadian speakers highly appreciated the potential of Kazakhstan’s mining industry, noting the country’s key importance as an investment partner in the region.
As part of the forum, a number of bilateral documents were also signed, including memorandums signed by LLP «Corporation Kazakhmys» with First Quantum for joint implementation of geological exploration projects in Kazakhstan, and with Bureau Veritas for the creation of an international geochemical laboratory in Kazakhstan, among others.