MINEX Forum

Tag: Geological Exploration

  • Kazakhstan Targets Economic Growth with Rare-Earth Expansion and SEZ Reforms

    Kazakhstan Targets Economic Growth with Rare-Earth Expansion and SEZ Reforms

    Kazakhstan is launching a comprehensive strategy to boost economic growth by strengthening special economic zones (SEZs) and expanding rare-earth metal production, as announced by Industry and Construction Minister Yersayin Nagaspayev during a government meeting chaired by Prime Minister Olzhas Bektenov

    To improve SEZ efficiency, the government will conduct a comprehensive review of their performance and strengthen monitoring mechanisms to ensure investors fulfill their obligations. The country also plans to introduce a framework for foreign companies to manage certain SEZs, while local authorities will intensify efforts to attract new investors.

    In addition to SEZs, the government has identified rare-earth metal production as a key area for development. Kazakhstan plans to implement at least three major projects in this field, focusing on the production of battery materials, recycling and manufacturing heat-resistant alloys for jet engines, developing semiconductor components, and reprocessing permanent magnets.

    The country has already established strategic partnerships with leading players from the European Union, the United States, Japan, South Korea, and China. Upcoming projects include the launch of gallium production with an annual capacity of 15 tons, the manufacturing of high-purity manganese sulfate, and the production of graphite for battery components.

    Kazakhstan is also taking significant steps to modernize its geological exploration and mapping. A next-generation geological map will be developed using advanced digital tools, with project preparations already underway and fieldwork scheduled to begin in 2026. The government has allocated funding for new surveying methods, including aerogeophysics, geochemistry, spectral imaging, and high-resolution satellite data analysis.

    Furthermore, the country is introducing a unified digital platform to consolidate all processes related to construction and housing management. The platform will be introduced by the end of 2025 and is expected to enhance efficiency and transparency in the sector.

    The reforms are part of Kazakhstan’s efforts to diversify its economy and reduce its dependence on oil exports. The country aims to become a major player in the global rare-earth market and to attract foreign investment in its SEZs.

  • Mining & Metals Analytical Report Highlights Kazakhstan’s Potential as a Mineral Investment Hub

    Mining & Metals Analytical Report Highlights Kazakhstan’s Potential as a Mineral Investment Hub

    A new analytical report produced by AIFC highlights Kazakhstan’s significant potential to become a leading hub for mineral investment, positioning the country as a crucial player in the global energy transition. The report, which includes what is believed to be the first-ever comparative benchmark of Kazakhstan against major mining jurisdictions like Canada, Chile, Australia, and Indonesia, concludes that while the nation has vast untapped potential, it must take specific steps to fully capitalize on it.

    The report identifies several key actions necessary to support this ambition. These include a strategic focus on active investment in junior mining companies, which are vital for early-stage exploration. The country also needs to provide a stable legal and regulatory framework to attract and retain foreign investment. Finally, Kazakhstan must align its development strategy with its mineral strengths and global trends, focusing on the materials most in demand for clean energy technologies.

    The report’s findings are underpinned by compelling data points that showcase Kazakhstan’s existing role and future prospects in the mining and metals sector. In 2024, the industry attracted $3 billion in gross foreign direct investment, accounting for 17% of the national total. Mining and metals also made up a substantial 12.1% of the country’s GDP last year. Despite its established importance, a staggering 65% of Kazakhstan’s geological area remains unexplored, presenting a monumental opportunity for new discoveries. These domestic figures are set against the backdrop of a global context where an estimated $2.1 trillion in mining investment will be needed by 2050 to meet the demands of a net-zero world.

  • Kazakhstan and US Forge Strategic Alliance in Rare Earth Exploration

    Kazakhstan and US Forge Strategic Alliance in Rare Earth Exploration

    Kazakhstan’s state mining company, Tau-Ken Samruk, and US-based Cove Capital are set to begin geological exploration at the Akbulak site in the Kostanai Region, targeting the discovery of rare earth elements in a significant international venture.

    “This initiative reflects our commitment to modernising industry and infrastructure while building a research base capable of supporting high-technology sectors,” said a spokesperson for the Samruk Kazyna Sovereign Wealth Fund.

    The exploration forms part of a wider strategic partnership between the firms, focusing on advancing high-potential industries. In line with this, Kazakhstan aims to overhaul its production capabilities, introduce advanced processing technologies, and further strengthen its scientific foundation.

    According to the Ministry of Industry and Construction, rare and rare-earth metals contribute 2.4% of the nation’s metallurgy output. Since 2018, the government has allocated 67 billion tenge (£114 million) to support the industry. Large-scale geological surveys are ongoing, with 25 sites across 100,000 square kilometres and 38 promising mineral deposits identified in 2024 alone.

    Currently, Kazakhstan produces a wide array of strategic metals including beryllium, tantalum, niobium, scandium, titanium, rhenium, and osmium, with by-products such as bismuth, antimony, selenium, and tellurium. Technologies for extracting gallium and indium are also in place. Future economic opportunities are seen particularly in the production and recycling of battery materials, heat-resistant alloys, semiconductor materials, and permanent magnets.

  • Online Auction for Gold-Bearing Pirali Site in Navoi Region Closes with Record Bid

    Online Auction for Gold-Bearing Pirali Site in Navoi Region Closes with Record Bid

    Tashkent, Uzbekistan — An online auction for the right to conduct geological exploration at the gold-bearing Pirali site in Navoi region has concluded with a record-breaking bid, according to the official website of the E-auksion platform.

    The bidding process, which began on the morning of August 21, lasted 23 hours and 29 minutes, with a total of 461 bids placed. The winning bid was submitted by NBK 111, offering 99.09 billion soums—24 times higher than the starting price.

    Winner and Company Background

    According to the Unified State Register of Enterprises and Organizations (EGRPO), NBK 111 was registered in Tashkent in May 2024 and specializes in the mining of non-ferrous metal ores. The company’s charter capital stands at 1.005 billion soums. A 40% stake in NBK 111 is owned by Chinese citizen Zhang Qian, while the remaining 60% is controlled by Nurmahmad Pulatov. Pulatov also holds significant stakes in other enterprises, including a 90.7% share in Quwwatt Group (glass production in Jizzakh) and a 100% stake in BEEK Electro (electrical appliance manufacturing). All three companies share the same contact phone number, indicating potential business ties.

    Site Details and Gold Reserves

    The Pirali site covers an area of 484 hectares and is located in the Navbahor district, approximately 20.5 kilometers northwest of Zafarabad settlement and 38.5 kilometers north of the city of Navoi. Preliminary estimates suggest that the site contains gold reserves of around 2.4 tons.

    Recent Auction Activity

    This week has seen significant activity in the auctioning of major gold deposits in Uzbekistan. The Temirchi site in Navoi region was sold for 67.78 billion soums, while the Terekli site near Almalyk saw its price surge nearly 20-fold to 81.8 billion soums.

    The successful auction of the Pirali site underscores the growing interest in Uzbekistan’s mineral resources and the competitive nature of the country’s mining sector.

  • Montenegro to Modernize Mining Laws in Line with EU Standards, Focus on Sustainability and Critical Minerals

    Montenegro to Modernize Mining Laws in Line with EU Standards, Focus on Sustainability and Critical Minerals

    Montenegro is preparing a new set of mining and geological exploration laws aimed at making the sector more sustainable, investor-friendly, and aligned with European Union standards, according to Marko Vučinić, acting director general of the Directorate for Geology and Mining at the Ministry of Energy and Mining.

    “Our goal is to support the economy and simplify procedures, but also to make mining environmentally sustainable, with a special focus on rehabilitation, recultivation, and protecting the Montenegrin stone brand,” Vučinić told the Gazette of the Chamber of Commerce.

    The new law on geological exploration, expected by the end of the year, will harmonize Montenegro’s framework with EU practice while simplifying procedures. It will place particular emphasis on hydrogeology, water resource management, and seismicity, given the country’s earthquake-prone geography. A geological cadastre will also be established to provide investors with greater transparency and facilitate decision-making.

    Vučinić stressed that the mining sector is an important employer in Montenegro, with over 5,000 jobs, covering not only mines but also the extraction of technical and construction stone. Currently, 53 concessions are active for detailed geological research and mineral exploitation.

    He noted that Montenegro possesses significant resources critical to the EU, including bauxite, lead, zinc, barite, and construction stone. The Varina copper deposit and the Red Mud Basin in Podgorica, rich in rare minerals, are among the country’s key strategic assets.

    The upcoming mining law will target illegal exploitation, streamline permitting, and strengthen quality control, with Croatia’s framework serving as a model. The government hopes to see parliament debate the laws in the autumn session.

    A further challenge lies in addressing the shortage of mining and geology professionals, as Montenegro lacks a dedicated faculty. Vučinić said the government is considering establishing new academic programs and offering scholarships to attract students to the sector.

  • Kazakhstan to Double Copper Ore Output with Launch of Three New Mines

    Kazakhstan to Double Copper Ore Output with Launch of Three New Mines

    Kazakhstan will begin developing three new copper deposits — Aidarly, Koksay, and Benkala — aiming to double its copper ore production to 300 million tonnes within the next five years, according to Deputy Minister of Industry and Construction Olzhas Saparbekov.

    The announcement came during a government meeting focused on boosting the country’s mineral output. In addition to the copper plans, Saparbekov said iron ore extraction is also expected to rise by 40% by 2030, reaching 52 million tonnes annually. This increase will support the expansion of Qarmet’s processing facilities and the launch of new hot-briquetted iron (HBI) production plants.

    Looking ahead to 2025, the government anticipates a twofold increase in copper refining, along with a more than twofold rise in lead production, a 50% increase in aluminium output, and an 11% boost in zinc production.

    To sustain this growth, Kazakhstan will allocate at least 30 billion tenge toward geological exploration next year. The funding will come from subscription bonuses collected through mineral rights auctions.

    Prime Minister Olzhas Bektenov noted that revenues from these bonuses are expected to increase as the government refines its calculation methodology to optimise income from the mining sector.

  • Audit Findings on Kazakhstan’s Geological Exploration and Subsoil Use Sector Reviewed by the Higher Audit Chamber

    Audit Findings on Kazakhstan’s Geological Exploration and Subsoil Use Sector Reviewed by the Higher Audit Chamber

    At a session of the Higher Audit Chamber of the Republic of Kazakhstan, the outcomes of a state audit on the utilisation of national resources in the fields of geological exploration and subsoil use were presented.

    📊 Currently, subsoil use contributes over 20% to the nation’s GDP. Kazakhstan possesses substantial reserves of mineral resources, including chrome, iron ore, lead, zinc, copper, uranium, gold, silver and others.

    📌 However, the audit identified several systemic shortcomings in the governance of the mineral resource sector.

    Among these is the high proportion of so-called “paper” resources—estimated but unconfirmed reserves not yet integrated into the economic cycle—particularly concerning as confirmed reserves become depleted. One key factor behind the slowdown in new reserve development is the lack of adequate funding for geological research. Despite the introduction of a licensing framework for exploration rights, investment activity among subsoil users remains low.

    Auditors observed that the Ministry of Industry and Construction had failed to implement initiatives involving the digitalisation of geological data, the creation of a digital database, updating of archives and promotion of private sector engagement. A lack of modern storage facilities poses risks of damage or loss of valuable geological records.

    Due to insufficient oversight by the Committee on Geology and poor compliance by contractors, the government paid 68.2 million tenge for incomplete works related to the digitalisation of geological materials.

    The Ministry of Industry permits amendments to subsoil users’ operational programmes without requiring tax expert review, allowing companies to interpret tax rules in their own favour—potentially avoiding budgetary contributions.

    Amid growing interest in Kazakhstan’s natural resources, demand is increasing for reliable laboratories that meet international standards. The lack of sufficient accredited laboratories weakens the quality control of precious metal and raw material exports.

    Auditors documented 81 procedural violations and 16 systemic flaws.

    As a result of the review, the Higher Audit Chamber issued a set of recommendations and directives aimed at developing the country’s geological exploration and subsoil use sector. Follow-up on these measures has been placed under active monitoring.

  • Uzbekistan and China’s Shandong Gold Group Sign Cooperation Agreement in Mining Sector

    Uzbekistan and China’s Shandong Gold Group Sign Cooperation Agreement in Mining Sector

    On 3 June 2025, the Ministry of Mining Industry and Geology of Uzbekistan hosted a meeting between First Deputy Minister O. Nasritdinhodjaev and a Chinese delegation led by Vice Governor of Shandong Province Cong Xiongzhi. The delegation also included senior representatives from Shandong Gold Group, one of China’s leading gold mining companies.

    The sides discussed avenues for deepening cooperation in the fields of geology, metallurgy, and mineral extraction. The talks also reflected on the outcomes of the Second Uzbekistan–China Interregional Forum, recently held in Samarkand, where both parties emphasized the strategic importance of strengthening regional economic ties.

    Key highlights of the meeting included discussion of promising investment opportunities in Uzbekistan’s mining sector and joint development of geological exploration initiatives.

    The event concluded with the signing of a trilateral cooperation agreement between Uzbekistan’s Ministry of Mining Industry and Geology, the Geological Exploration and Mineral Resource Development Bureau of Shandong Province, and Shandong Gold Group. The agreement marks a significant step toward long-term collaboration on resource development, technology exchange, and investment in strategic mineral projects.

  • Uzbekistan Advances Nationwide Geological Mapping and Exploration with 154 Active Projects

    Uzbekistan Advances Nationwide Geological Mapping and Exploration with 154 Active Projects

    At a recent briefing held by the Agency for Information and Mass Communications, N. Dulabova, Head of Department at the Ministry of Mining Industry and Geology of Uzbekistan, detailed the country’s accelerating efforts in geological exploration and mineral resource mapping.

    In 2024, digital geological maps were completed for 75,000 square kilometers in southern Uzbekistan at a 1:200,000 scale. In parallel, comprehensive space-geological and geochemical surveys were carried out over 6,000 square kilometers, including key areas such as the Molguzar and Gissar ranges. Updated tectonic-structural schemes and multipurpose geochemical maps were also developed for these regions.

    Furthermore, detailed re-mapping at a 1:50,000 scale was conducted over a 3,500-square-kilometer mountainous zone encompassing the Auminzatau, Beltau, Tamdytau, Aristantau, Sangruntau, Yakkabag, Gissar, and Kulzhuktau ranges. As a result, 42 promising mineral zones were identified, spanning eight types of valuable resources.

    In 2025, under the framework of the State Geological Program, work is being carried out on 154 geological exploration projects. By the end of the year, Uzbekistan aims to finalize a complete set of national digital geological maps at a 1:200,000 scale and complete space-geological and geochemical research across an additional 3,000 square kilometers.

    These efforts aim to enhance the country’s strategic understanding of its subsoil wealth and unlock new investment opportunities across various segments of the mining industry.

  • Uzbekistan and China’s Henan Investment Group Discuss Expansion of Mining and Metallurgy Projects

    Uzbekistan and China’s Henan Investment Group Discuss Expansion of Mining and Metallurgy Projects

    On 27 May 2025, Minister of Mining Industry and Geology of Uzbekistan B. Islamov and senior ministry officials met with a delegation led by Zhu Hongbing, General Director of Henan Investment Group Co., Ltd. The meeting focused on the progress and future prospects of projects being implemented by the Chinese company in Uzbekistan’s mining sector.

    Key topics included the attraction of foreign investment into Uzbekistan’s geology and mining industries. Both sides emphasized the strategic importance of expanding cooperation in geological exploration and metallurgy.

    Representatives of Henan Investment Group highlighted Uzbekistan’s growing investment appeal and underscored the potential for joint ventures, particularly in untapped mineral-rich regions. The Chinese delegation expressed readiness to deepen collaboration and further develop long-term initiatives in the country.

    The Uzbek side reaffirmed its commitment to supporting foreign investors and ensuring transparency in mining-related procedures, including through mechanisms like open auctions for subsoil rights.