Website: Kazakhstan.com

Strategy session 6 – Tax, Royalties, Contracts: Rethinking Mining Economics in Kazakhstan 2026

Format: Presentations and panel discussion

Under the 2026 Tax Code and parallel amendments to the Subsoil and Subsoil Use Code, subsoil use contracts in Kazakhstan are being reshaped to tighten state control over strategic resources, formalise “strategic investor” status, and link fiscal terms more closely to investment and processing obligations. Simultaneously Kazakhstan is overhauling mining taxation with a shift from Mineral Extraction Tax to a royalty‑based model, wider incentives for domestic processing, and clarified rules for exploration and subsoil‑use costs. This session will unpack how the 2026 Tax Code and new royalties’ system will work in practice, what it means for project economics and investment decisions, and how companies should adapt their fiscal and regulatory strategies in Kazakhstan’s evolving mining landscape.

Moderator

Vyacheslav Sosnovskiy
Partner
KPMG

Presentations:

The New Tax Code: Seeking a Balance Between State and Investor Interests
Maxim Kononov
First Deputy Executive Director
Republican Association of Mining and Metallurgical Enterprises (AGMP)

Tax Burden of Mining Companies: Challenges of 2026 and Possible Solutions
Dana Tokmurzina
Chief Executive Officer
Fortune Partners

Transfer Pricing (TP) in the Mining Industry: From Formal Compliance to Regulatory Management
Gaukhar Mukasheva
Director
KPMG

Tax Administration of Mining Companies in Kazakhstan and International Practice
Vyacheslav Sosnovskiy
Partner
KPMG

Technical session 7 – From Liability to Asset: Navigating the New Era of Tailings Management in Kazakhstan

Format: Presentations and panel discussion

Kazakhstan’s mining sector is currently navigating a “perfect storm” regarding Tailings Management Facilities (TMFs). With billions of tons of industrial waste accumulated, the industry faces dual pressure: aggressive government mandates to repurpose Technogenic Mineral Formations (TMFs) into economic assets, and a tightening global insurance market that views tailings as high-risk liabilities. This session explores the intersection of Kazakhstan’s 2026–2028 Mining Roadmap and global safety standards (GISTM). Discussion points include fiscal incentives, such as the zero-rate Mineral Extraction Tax for low-profitability deposits, alongside the critical shift toward “active management” technologies. A live demonstration will showcase the real-time monitoring systems required to secure insurance capacity and meet international safety standards.

Moderator

Sergei Sabanov
Associate Professor
Nazarbayev University

Presentations:

How is Kazakhstan responding to global developments in tailings governance?
Sandugash Abdizhalelova
Senior Sustainability Consultant
SRK Consulting

Sonic Drilling for Tailings Dam Investigations: Unlocking Reliable Sample Recovery in Kazakhstan
Sue-Anya Khelawan
Senior Consultant (Tailings)
SRK Consulting

TMF as a Factor of Resource Security and Sustainable Growth
Yerbol Zakariyanov
Deputy Executive Director
Republican Association of Mining and Metallurgical Enterprises

Active tailings management with 24/7 monitoring to ensure Complaince with global standards and better insurance outcomes
Iain Pickard
co-Founder and Managing Partner
Strategia Worldwide

Practical Application of GISTM
Martha Needs
Senior Geotechnical Engineer
Knight Piésold

Practical International Experience in Retreatment of Tailings to Produce Commercial Metal
Alexey Ragulin
Managing Director: Kazakhstan
Paterson & Cooke

AI + Geostatistics for the Analysis of Mine Tailings Storage Facilities
Sergei Sabanov
Associate Professor
Nazarbayev University

Technical session 6 – Implementation of advanced technologies for escalating resource base development in Kazakhstan

Format: Presentations and panel discussion

Context: Kazakhstan is at a geological turning point where its vast Soviet-era exploration archives meet modern algorithmic discovery. With over 90% of historical records digitised, the focus is shifting from preservation to AI-driven analysis of geological “Big Data.” This session examines how machine learning is reprocessing legacy seismic, magnetic, and geochemical data to predict deep ore bodies beyond traditional reach. By replacing static paper maps with dynamic 3D digital models, Kazakhstan aims to revitalise its mineral base, while testing how digital insights translate into real-world discovery and economic value.

Moderator

Chris Bray
Principal Consultant (Mining Engineering)
SRK Consulting (UK)

Presentations:

Can technology make mining business better?
Alexey Tsoy
Group Head of Studies
MSA Group

Implementing best practise for underground mining
Chris Bray
Principal Consultant (Mining Engineering)
SRK Consulting (UK)

Turning Data into Discovery: A platform to support mineral exploration in Kazakhstan & beyond
Olivia Rhind
Senior Geologist – Business Development
ALS

Construction of a detailed 3D model of tectonic faults based on 3D seismic exploration data
Alexander Oshkin
CTO
Sonica

Integrated Testing, Analysis, and Mineralogy from Exploration to Rehabilitation
Alesya Tüzün
Regional Director
Argetest

Scaling Geometallurgical Insight using Assays and Photos:Machine Learning Applications on Copper Deposits
Well-Shen Lee
Senior Project Geologist
ALS Geoanalytics

Experience of applying the Transient Electromagnetic Method (TEM) in underground boreholes
Marat Shayakhmet
Head of Electrical Survey Department
GEOKEN Scientific Production Center

MINEX Kazakhstan 2026 – Project Evaluation – understanding residual risk & positioning operations to succeed

Format: Presentations and panel discussion organised in partnership with SRK Consulting

Recent mining developments in Kazakhstan and other regions across Central Asia reveal declining quality in project evaluations. This is worrying as project evaluations are considered a bedrock for all subsequent planning, financing, and operational phases. The transition from historical data to a modern, bankable feasibility study requires more than just software; it requires a culture of technical integrity, professional scepticism, and a commitment to long-term environmental stewardship. Without these elements, the “Mining Project for Success” will remain an elusive goal, overshadowed by the risks of poor planning and the systemic errors of the past.

Moderator

David Pearce
Corporate Consultant (Mining Engineering)
SRK Consulting (UK)

Presentations:

Resilience based design; benefits, practicalities, and operational realities
Alasdair Ross
Senior Consultant (Geotechnical Engineering)
SRK Consulting

How to accelerate the project evaluation process
David Pearce
Corporate Consultant (Mining Engineering)
SRK Consulting (UK)

Miryıldız Mining – Global and Kazakhstan Operations
Emrah Erdem
CEO
Miryıldız

Dilution, 3D modeling using geomechanics
Erzhan Kulmagambetov
Geomechanical engineer
Alel (Rudnik Suzdal)

MINEX Kazakhstan 2029 – Water Stewardship: Recent Trends and Developments in Kazakhstan

Format: Presentations and panel discussion organised in partnership with SLR Consulting

Water is no longer just an environmental commodity in Kazakhstan; it is a strategic economic asset. Water scarcity in Kazakhstan is escalating, with the UN’s “Water Stress” indicator (SDG 6.4.2) for the country rising to 34.1%-significantly above the global average. While the government has integrated Sustainable Development Goals (SDGs) into high-level policy, recent analysis reveals a critical disconnect between these national strategies and the practical environmental standards applied at mine sites. To address water scarcity challenges, Kazakhstan is introducing National Water Resource Assessment System and Mandatory transition to closed water supply cycles. This session offers a roadmap for transforming water management from a compliance burden into a competitive advantage, ensuring that Kazakhstan’s mining sector remains resilient in a climate-constrained future.

Moderator

Nurlan Zhumadilov
Hydrogeological Manager
Eurasian Resources Group

Presentations:

Mining Firms Will Be The Next Victim of Water Scarcity in Central Asia
Vlad Paddack
Fellow & Head of Communications
Nightingale Int.

Water Footprint in Mining – Steps To Minimise Impacts
Paul Klimczak
Technical Director – Mine Water
SLR Consulting

Practical Approaches to Water Resources Management at Altynalmas
Azat Kalibekov
Head of Water resources management Division
Altynalmas

Efficient Water Use at the Processing Plants of Altynalmas within a Recirculating Water Supply System
Arman Doldanov
Leading Environmental Protection Specialist
Altynalmas

Timur Odilov
Natural Resources, M&A and Legislation
Haller Lomax

MINEX Kazakhstan 2026 – Deal or No Deal? Making Early-Stage Kazakh Mining M&A Work

Format: Presentations and panel discussion

The challenge of evaluating and negotiating mining projects is a symptom of a market in transition in Kazakhstan. Small mining companies that cling to unrealistic, un-modelled price expectations risk being left behind as the sector consolidates around sophisticated majors and state-backed giants. Conversely, buyers who fail to appreciate the improving regulatory landscape, the tax benefits, and the genuine geological potential of the region will miss out on the global race for critical minerals. The case-based approach demonstrates that the valuation gap is bridged when both sides stop looking at the ground and start looking at the project’s technical, financial, and legal “Basis of Design”.

Moderator

Kassi Beisembetov
Managing Partner
Alphamar

Presentations:

Attracting Investment and M&A Transactions in the Mining Sector
Vladislav Lozovoi
Head of Business Development
ALT Management

Evaluation and Comparison of Early Stage Exploration Assets
Anna Fardell
Principal Resource Geologist
SLR Consulting

Panellists:

Michael Zlobin
Head of Equity for Natural Resources
European Bank for Reconstruction and Development (EBRD)

Che Osmond
Technical Director – Mining Advisory
SLR Consulting

Strategy session 5 – How can Kazakhstan derive the highest benefit from international critical mineral interest?

Format: Discussion co-organised with the Eurasia Critical Minerals Organisation

While global interest in the five Central Asian nations is rising, Kazakhstan remains the region’s clear leader. With an estimated $46 trillion in untapped mineral wealth —including 40% of global uranium reserves and major deposits of bauxite and copper—Kazakhstan is attracting unprecedented attention from the US, UK, EU, China, Japan and South Korea.

Yet the era of simply exporting raw materials is ending. For Kazakhstan and its neighbours to become industrial powerhouses, several key questions must be addressed:
– How can Kazakhstan turn non-binding agreements into financeable, high-tech infrastructure projects?
– What reforms and investments are needed to build domestic processing capacity for rare earth elements and battery-grade materials?
– How can Kazakhstan’s multi-vector foreign policy protect national interests while balancing East and West?

Join experts invited by the Eurasia Critical Minerals Organisation as we move beyond the hype around mineral wealth and examine the practical steps—through policy reform, Middle Corridor logistics, and deep-processing partnerships—that can secure Kazakhstan’s role in the global supply chain.

Moderator

Ros Lund
CEO
Eurasia Critical Minerals Organisation

Panellists:

Aidyn Akan
Managing Director
National Investment Holding “Baiterek”

Azat Kabdrashitov
Advisor to CEO
Kazakh Invest

Michael Waitz
Head of Metals & Mining
KfW IPEX-Bank

Farkhat Yergaliyev
General Director
Dala Resources

Tim Archer
Managing Director
Reid Geophysics