Kazakhstan is set to launch a pilot electronic auction for the extraction of solid minerals, attracting both domestic and foreign investors. They will have the opportunity to explore 25 deposits in Kazakhstan.
Experts note that Kazakhstan’s copper has gained significant demand, comparable to gold. The topic of copper mining was a focal point at the MINEX Kazakhstan Forum taking place in Astana, with geological exploration specialists from 30 countries in attendance. Major global players such as Canada and Australia are eager to engage in exploration activities in Kazakhstan, as preliminary estimates suggest there are over 37 million tons of copper reserves in the country. The government has allocated 5 billion tenge for the study of mineral resources this year. This surge in geological exploration is expected to attract numerous large corporations to Kazakhstan.
Copper is particularly sought after due to its widespread use in electronics, including phones, watches, and vehicles. The development of new regions, construction projects, and infrastructure also require copper for various purposes, such as electrical wiring. The discovery of a new deposit by one of these companies could lead to the emergence of a new city and the establishment of related industries in the near future.