MINEX Forum

Website: Eurasia.com

  • Kazakhstan Advances National Geological Digitalisation Programme

    Kazakhstan Advances National Geological Digitalisation Programme

    Kazakhstan continues the implementation of a national programme aimed at accelerating the digitalisation and systematisation of geological information, in line with the instruction of the Head of State. The initiative is designed to increase the level of geological exploration of the country’s territory, enhance investment attractiveness, and ensure open access to geological data.

    The scanning and digitisation of geological materials form the foundation for the introduction of modern digital and analytical tools, including artificial intelligence-based solutions. The programme is expected to significantly improve transparency and accessibility of geological information for government bodies, investors, and the professional community.

    To date, 66,180 secondary geological reports have been structured, with access to their first volumes available through the Unified Subsoil Use Portal. This enables users to review the general sections of materials online and free of charge, without the need to visit physical geological archives. Work on digitising secondary reports began in the early 2000s.

    Overall, nearly 4.7 million units of geological information have been digitised, representing 97.5% of the total volume of primary geological data. Of this amount, 2,728,620 units were digitised in 2023–2024, and 1,969,216 units in 2025.

    The total volume of priority primary geological information stored in geological archives amounts to approximately 5 million units. These materials are currently held in paper format, graphic appendices, magnetic tapes, and cartridges.

    The full cycle of geological data digitisation is scheduled for completion by the end of 2026, ensuring 100% coverage of archival materials.

  • Development Bank of Kazakhstan Transfers Aktogay Project Financing to Halyk Bank Under New Investment Model

    Development Bank of Kazakhstan Transfers Aktogay Project Financing to Halyk Bank Under New Investment Model

    The Development Bank of Kazakhstan (DBK), a subsidiary of Baiterek Holding, has completed a landmark refinancing transaction for the Aktogay mining and processing complex, demonstrating a new model for attracting private capital into large-scale industrial projects.

    KAZ Minerals Aktogay LLP operates one of Central Asia’s крупнейших open-pit copper mines in the Abai Region. The complex includes two sulphide concentrators with a combined capacity of 50 million tonnes of ore per year, along with a cathode copper plant processing oxidised ore. The facility employs advanced mining and beneficiation technologies, including automated process control systems.

    DBK first financed the Aktogay project in 2016 during the high-risk construction and commissioning phase. With the Bank’s support, a second concentrator was built, doubling sulphide ore processing capacity from 25 million to 50 million tonnes annually and creating more than 2,100 permanent jobs. The initial financing facility has since been fully repaid, and the first phase of the project has reached its planned payback.

    In a significant next step, Halyk Bank refinanced the company’s outstanding debt to DBK, assuming responsibility for servicing the now operational and financially stable project. The transaction reflects a structured approach in which DBK assumes early-stage project risks, while commercial banks step in once operational performance and cash flows become predictable.

    According to Marat Yelibayev, Chairman of DBK’s Management Board, the refinancing frees up state development funds for new capital-intensive industrial projects, reinforcing an investment cycle in which DBK supports projects from inception to stability before transferring them to private lenders.

  • Kazakhstan Reviews 2025 Industrial Performance and Sets Ambitious Digital and Infrastructure Targets for 2026

    Kazakhstan Reviews 2025 Industrial Performance and Sets Ambitious Digital and Infrastructure Targets for 2026

    Kazakhstan’s Ministry of Industry and Construction has reviewed its 2025 performance and outlined strategic priorities for the coming years during a Board meeting chaired by First Deputy Prime Minister Roman Sklyar.

    Opening the session, Industry and Construction Minister Yersayin Nagaspayev said the sector had entered a new phase of development, supported by rising industrial output, record housing completions, major investment projects, and reforms in subsoil use.

    Manufacturing output grew by 6.4% in 2025, driven by gains in metallurgy, mechanical engineering, chemicals, construction materials, and rubber and plastics production. A total of 190 projects worth approximately 1.5 trillion tenge were commissioned, creating more than 22,000 permanent jobs. Three new special economic zones were established, and 13 major investment agreements were signed.

    The construction sector also delivered record results, with 20.1 million square metres of housing commissioned, exceeding the planned target. A new Construction Code was adopted to support long-term sector stability.

    In subsoil use, the updated Subsoil Code introduced legislative and institutional reforms to strengthen the country’s mineral resource base. Seventeen new deposits were registered, and detailed geological mapping at a 1:50,000 scale will cover 100,000 square kilometres this year.

    Digital transformation featured prominently in the review. The Unified Subsoil Use Platform now provides 22 online public services and has issued more than 700 licences. Approximately 4.6 million geological reports have been digitised. AI-based construction monitoring and a digital project management system for energy and utilities modernisation were also launched.

    Looking ahead to 2026–2027, the ministry plans large-scale digital reforms in construction, mandatory digital twins for industrial enterprises from 2027, expanded smart utility metering, and broader use of Big Data and AI in geological exploration. Around 200 industrial projects worth 1.7 trillion tenge are scheduled for launch in 2026, with nearly 19,400 new jobs expected.

    Concluding the meeting, Sklyar stressed the Ministry’s heightened accountability under Kazakhstan’s evolving constitutional framework and instructed officials to accelerate investment planning, expand geological exploration to 2.2 million square kilometres, strengthen rare earth and rare metal strategies, and advance nationwide digitalisation initiatives.

  • TMK Expands Industrial Cooperation with Kazakhstan’s Ulba Metallurgical Plant

    TMK Expands Industrial Cooperation with Kazakhstan’s Ulba Metallurgical Plant

    TMK has held high-level talks with representatives of Ulba Metallurgical Plant to expand industrial and technological cooperation in Central Asia. The meeting, which took place at TMK’s head office, focused on strengthening bilateral partnerships and exploring opportunities for joint projects in both Uzbekistan and Kazakhstan.

    Discussions centred on advancing deeper processing of critical raw materials, increasing production of high value-added products, and enhancing the integration of regional industrial value chains. Both sides emphasized the strategic importance of developing downstream capabilities in critical minerals to improve competitiveness and reinforce regional supply chain resilience.

    Ulba Metallurgical Plant is a key industrial enterprise in Kazakhstan, specializing in the production of uranium, beryllium, tantalum and niobium, as well as finished products based on these metals. The potential collaboration is expected to contribute to broader industrial development across Central Asia.

  • Kazakhstan Advances Detailed Geological Mapping to Boost Investment Potential

    Kazakhstan Advances Detailed Geological Mapping to Boost Investment Potential

    On 13 February 2026, acting Chairman of the Committee of Geology Kanat Yerubayev presented progress on Kazakhstan’s state geological exploration program at a scale of 1:50,000, marking a strategic shift toward more precise subsurface mapping.

    According to Yerubayev, geology has become a key instrument for economic development amid growing global demand for copper, gold, rare earth elements and other critical minerals. Kazakhstan is moving from a 1:200,000 mapping scale to a more detailed 1:50,000 standard aligned with international practices to enhance data accuracy and attract investors.

    In 2025, detailed survey projects were prepared covering 100 thousand square kilometers. As a result, 29 prospective areas containing gold, copper, lead, zinc and other minerals were identified.

    Hydrocarbon basin exploration is also ongoing. In the Aral region, more than 20 promising blocks have been discovered and are expected to be offered at auction.

    Digital transformation remains a central component of the strategy. Through the Unified Subsoil Use Platform, 22 public services are now provided, and access has been granted to 66 thousand geological reports. Some 97.5% of primary geological data has already been digitized, with full completion expected in 2026.

    Over the next three years, approximately 240 billion tenge will be allocated to state geological exploration. The first newly identified promising sites are planned to be auctioned as early as 2027.

    “We are transitioning from the stage of data accumulation to deep analytics and investment implementation,” Yerubayev emphasized.

  • Uzbekistan Targets Higher Coal and Uranium Output as New Projects Advance

    Uzbekistan Targets Higher Coal and Uranium Output as New Projects Advance

    President Shavkat Mirziyoyev has reviewed progress and future plans in Uzbekistan’s coal and uranium sectors, with officials outlining measures to expand production and improve efficiency.

    Coal output for the 2025–2026 autumn-winter season is expected to reach 10 million tonnes, 1.3 million tonnes more than the previous season. So far, 9 million tonnes have been produced, up 590 thousand tonnes year-on-year. Authorities have set a higher benchmark of 11 million tonnes for the following season.

    To meet these targets, the government plans to accelerate development of deposits in Tashkent and southern regions, expand selective mining, and привлечь additional excavators and outsourced equipment. Increased private sector participation is expected to add 2.5 million tonnes of coal production in 2026.

    Particular focus was placed on the Nishbosh deposit in Angren. The nearly $500 million project, with reserves of 233 million tonnes, is scheduled to begin production in 2026 at 1 million tonnes annually, with long-term capacity projected at 10 million tonnes per year. The development is expected to create 880 permanent jobs.

    Officials also presented a $5 billion initiative led by  to establish polymer production based on deep coal processing. The project aims to process 8–9 million tonnes of coal annually and produce 1.18 million tonnes of polymer products.

    In uranium, Uzbekistan produced 7 thousand tonnes last year, with identified reserves standing at 139 thousand tonnes. Development of the Arnasay, Western Kizilkok, Southern Jongeldi, and Eastern Agron deposits is set to begin this year. With rising production expected, authorities emphasized the need to expand processing capacity and ensure stable supplies of sulfuric acid and technical sulfur for uranium extraction.

    The President instructed officials to ensure timely implementation of projects, boost output and enhance economic returns across both sectors.

  • Chevron Fund Invests $23.5m in Ferroalloy Production Project in Ekibastuz

    Chevron Fund Invests $23.5m in Ferroalloy Production Project in Ekibastuz

    Chevron Direct Investment Fund (CDIF) will invest $23.5 million in the construction of a ferroalloy plant in Ekibastuz, supporting Kazakhstan’s efforts to expand value-added metals production.

    The project is being developed by  (MPI), which plans to produce 80,000 tonnes of ferrosilicon-75 annually. The facility’s technology will also allow for the production of ferromanganese and silicomanganese. More than 500 jobs are expected to be created.

    According to MPI, South Korea’s SAC Co. will act as the project’s technology partner. The plant will be equipped with eight electric furnaces, each with a capacity of 33 MVA. Output is intended for export to South Korea, Japan, North America and European markets. The first production phase is scheduled to launch in 2026.

    Earlier, the  (DBK) announced it would allocate €148 million to finance the project. Total construction costs are estimated at €213 million, with MPI and Chevron contributing approximately €65 million in equity.

    Chevron has operated in Kazakhstan for more than three decades. Through CDIF, the company invests in promising domestic enterprises across various sectors to support economic diversification. The MPI project is expected to strengthen the industrial base of the Pavlodar region and expand Kazakhstan’s presence in global ferroalloy markets.

  • Finland Launches First Lithium Mine to Boost Europe’s Battery Supply Chain

    Finland Launches First Lithium Mine to Boost Europe’s Battery Supply Chain

    Finland has officially opened its first lithium mine, marking a milestone in Europe’s push to secure domestic battery raw materials and reduce reliance on imports.

    Mining company Keliber has begun lithium extraction in western Finland, initiating what is described as Europe’s first integrated battery-grade lithium production chain. According to Finnish broadcaster Yle, the project is designed not only to mine lithium ore but also to process it into battery-grade lithium chemicals within Europe.

    CEO Hannu Hautala said the operation gives Europe a strategic advantage by shortening supply routes compared to shipments from China. The company expects that local production will strengthen Europe’s battery manufacturing ecosystem, particularly as electric vehicle demand continues to grow.

    The project spans three municipalities — Kaustinen, Kokkola and Kronoby — forming a regional industrial cluster that links mining operations with processing facilities. The lithium concentrate will be refined into battery-grade material at a dedicated plant in Kokkola.

    The launch comes amid intensifying efforts across the European Union to develop domestic sources of critical minerals essential for electric vehicles and renewable energy technologies. By establishing a local lithium supply chain, Finland aims to position itself as a key contributor to Europe’s broader energy transition and industrial resilience strategy.

  • Kenes Rakishev Registers Arkhat Minerals Limited at AIFC to Raise Capital for Future Mining Projects

    Kenes Rakishev Registers Arkhat Minerals Limited at AIFC to Raise Capital for Future Mining Projects

    Kazakh businessman Kenes Rakishev has registered a new company, Arkhat Minerals Limited, at the Astana International Financial Centre (AIFC) as part of efforts to access capital markets and attract financing for future projects.

    According to Fincraft Resources, which is fully owned by Rakishev and acts as the sole shareholder of Arkhat Minerals Limited, the new entity will focus on project management, including in the solid minerals mining sector. The company is based in Astana and is registered on the AIFC’s AFSA platform as a holding structure. Temirlan Shaimerdenov has been appointed CEO and director of the new company.

    Arkhat Minerals Limited follows the earlier establishment of Fincraft Energy Holding Limited, registered at the AIFC on November 10 2025. With a charter capital of 50 million tenge, the company was created to operate in capital markets and attract long-term investment into existing and future oil and gas projects. Pavel Mynzhanov, formerly a board member of Fincraft Resources, serves as CEO.

    Fincraft Group has previously stated that Fincraft Energy Holding Limited was established to consolidate and manage investments in hydrocarbons, including exploration, production and processing projects. The move aligns with Rakishev’s broader strategic shift toward energy assets and higher value-added oil processing.

    In recent years, Rakishev has gradually reduced his exposure to mining and financial assets while increasing investment in oil and gas. In March 2025, he sold his stake in ARK Petroleum, an operator of the Shalva oil exploration contract in the Mangystau region. Earlier, in January 2025, it was announced that BTA Ukraine, another asset linked to Rakishev, would be acquired by Ukrainian businessmen following approval by the country’s antimonopoly authority.

  • France Takes Minority Stake in Imerys’ €1.8bn Emili Lithium Project

    France Takes Minority Stake in Imerys’ €1.8bn Emili Lithium Project

    France will invest €50 million in a minority stake in Imerys’ flagship Emili lithium project, marking a significant step in the country’s strategy to secure domestic battery raw materials.

    The investment, announced on Wednesday, will support feasibility studies ahead of a final investment decision. Production is currently targeted for 2030. Imerys CEO Alessandro Dazza said additional investors are expected to join the project as financing discussions progress.

    First unveiled in 2022, the Emili project aims to produce 34,000 tonnes of lithium hydroxide annually, enough to supply batteries for around 700,000 electric vehicles each year. The project involves developing an underground lithium mine beneath an existing kaolin site in central France, alongside a dedicated processing facility.

    Imerys has revised its total project cost estimate upward to €1.8 billion from an initial €1 billion forecast. However, Dazza indicated the final capital requirement is likely to come in significantly below the updated estimate.

    While the company may not retain a majority stake once new investors enter, Dazza stated that Imerys considers itself the natural operator of the future mine.

    The production timeline was pushed back from 2028 to 2030, partly due to public debate surrounding environmental concerns. The project is widely seen as a cornerstone of France’s efforts to reduce reliance on imported lithium and strengthen Europe’s battery supply chain.