The Kazakhstan Chamber of Mines orchestrated a pivotal event in Astana, the capital of Kazakhstan, on February 22nd, 2024, convening industry leaders, government representatives, and diplomatic missions to delve into strategies for enhancing investment attractiveness within Kazakhstan’s burgeoning mining sector.
With a resounding call for the advancement of Kazakhstan’s mining industry echoing from President K. K. Tokayev, the conference served as a nexus for dialogue on legislative frameworks, policy propositions, and future trajectories pertinent to mineral exploration, mining operations, and mineral processing technology.
A cornerstone of Kazakhstan’s economic agenda, the mining industry has garnered significant attention following the introduction of the new “On Subsoil and Subsoil Use” Code in 2018. This legislation, marked by enhanced clarity and regulatory efficiency, lays the groundwork for Kazakhstan’s ascent as a global leader in mineral resources extraction—a vision championed by President Tokayev and embraced by member companies of the Kazakhstan Chamber of Mines.
The conference, themed “Increasing investment attractiveness in Kazakhstan’s mining industry,” centered on the exchange of insights and experiences among key stakeholders, with a particular emphasis on navigating the nuances of the Subsoil Use Code. Deliberations also revolved around proposed amendments to the Code, underscoring the government’s commitment to fortifying conditions for investors.
Minister of Industry and Construction of the Republic of Kazakhstan, K.B. Sharlapayev, spearheaded the conference, advocating for legislative simplification to bolster industry appeal. He unveiled a forthcoming package of amendments to the Subsoil Code, poised to usher in a new era of investor-friendly policies, affirming, “The mineral resource complex stands as the linchpin of Kazakhstan’s economic prosperity.”
The event drew notable attendance from international diplomatic missions, including the Ambassadors of the United States, Great Britain, and Canada. Their endorsement of Kazakhstan’s mining sector underscored the imperative of a stable, transparent judicial and tax regime in attracting foreign investments—a sentiment echoed by industry luminaries.
Among the luminaries, Mr. Tim Barry, Advisory Board Member of the Kazakhstan Chamber of Mines, underscored the pivotal role of copper exploration in meeting global demand. Highlighting Kazakhstan’s potential as a significant player in the global copper market, Barry emphasized the need for conducive governmental policies to facilitate market entry and development.
Panel sessions delved into legal frameworks shaping investment dynamics and the geological and environmental factors influencing investment decisions. Mr. Baymishev R.N., President of the Kazakhstan Chamber of Mines, lauded the influx of global investors, accentuating Kazakhstan’s appeal as a prime destination for mineral exploration.
In a bid to chart a strategic roadmap for the mining industry’s future, Mrs. Bizhanova G.K., Deputy Chairman of the Board of NCE “Atameken,” underscored the imperative of industry strategy development. She underscored the need for coherence between legislative measures and business strategies to foster industry resilience and growth.
The conference concluded with reflections from Mr. Almas Kushumov, Director of the Department of the Ministry of Industry and Construction of the Republic of Kazakhstan, shedding light on forthcoming amendments to the Subsoil Code and the positive reception garnered by recent electronic auctions.
As participants bid farewell, East Star Resources CEO Alex Walker accentuated the ongoing collaboration between industry players and government entities in navigating the evolving regulatory landscape. Despite challenges, Kazakhstan remains a fertile ground for exploration endeavors, underpinned by shared determination and collaboration.
With over 160 participants converging at the conference, the resounding sentiment affirmed Kazakhstan’s allure as an investment destination poised to propel the mining industry into a new era of prosperity and sustainability.
