MINEX Forum

Website: Kazakhstan.com

  • 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.

  • 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.

  • 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.

  • Arras Minerals and Teck End Strategic Alliance as Kazakhstan Copper Targets Advance to 2026 Plans

    Arras Minerals and Teck End Strategic Alliance as Kazakhstan Copper Targets Advance to 2026 Plans

    Canada-based Arras Minerals Corp. has provided an update on its Strategic Alliance with Teck Resources Limited and outlined its exploration plans for 2026 across its licence portfolio in Kazakhstan, following Teck’s decision to exit the staged option phase of the agreement.

    The two companies entered into the alliance in December 2023 to explore for copper across approximately 1,900 square kilometres of Arras’ licence package in Kazakhstan’s Pavlodar region. Under the agreement, Teck funded around $5 million in generative exploration over a two-year period, with Arras acting as project manager. Teck had the option to select up to four designated properties for further investment of up to $47.5 million per project to earn up to a 75% interest, but has elected not to proceed to this second phase.

    Despite the decision, the alliance delivered extensive exploration results. Over two years, the program identified three new porphyry systems along a 54-kilometre trend parallel to the operating Bozshakol copper-gold mine, defined a large hydrothermal system at the Besshoky project, and generated a substantial geochemical and geophysical dataset. Work included nearly 40,000 soil samples, airborne magnetic surveys, Heli-EM and induced polarization surveys, 479 top-of-bedrock drill holes, and 18 diamond drill holes totaling more than 5,200 metres.

    Drilling returned multiple mineralized intercepts across several targets, confirming porphyry-style alteration and mineralization at Shirderty, Bozshakol South and Tort Kuduk. At Tort Kuduk, one hole intersected 34 metres grading 0.25 g/t gold, highlighting precious-metal upside alongside copper potential.

    Teck said that while the results did not meet its threshold to advance to the next phase, it remains positive on Kazakhstan and will continue as a supportive shareholder. Arras management described the alliance as successful in narrowing a large land package into a focused set of high-priority targets and said many warrant further follow-up.

    For 2026, Arras plans additional geophysical surveys, including magnetotelluric and gravity work, followed by targeted diamond drilling at several copper porphyry prospects. The company also intends to advance precious metals-focused targets that were not drilled during the alliance period and could reach drill-ready status with additional fieldwork.

    Arras said the work completed with Teck’s funding has significantly de-risked its portfolio and strengthened the pipeline of drill targets, supporting continued exploration of its Elemes copper-gold project and other priority areas across its Kazakhstan licences.

  • US Launches Project Vault to Secure Critical Minerals and Deepens Engagement With Central Asia

    US Launches Project Vault to Secure Critical Minerals and Deepens Engagement With Central Asia

    The United States has stepped up efforts to secure independent supply chains for critical minerals with the launch of Project Vault, a new initiative designed to establish a US Strategic Critical Minerals Reserve and reduce reliance on China. The project, formally approved on February 2 by the Export-Import Bank of the United States, is backed by up to $10 billion in long-term public financing and an additional $2 billion in expected private-sector participation.

    Project Vault will operate as a public-private stockpile, creating reserves of essential minerals and metals used in aerospace, defence, semiconductors, advanced manufacturing, renewable energy, and electric vehicles. Planned storage sites across the United States are intended to buffer domestic industries against global supply shocks, mirroring the role of the Strategic Petroleum Reserve in energy markets.

    The initiative reflects Washington’s broader strategy to diversify critical mineral supply chains away from China, which currently dominates global mining, refining, and processing capacity for rare earths. US officials have increasingly framed this dominance as a strategic vulnerability, citing past export restrictions imposed by Beijing as evidence of how mineral supply can be used as a geopolitical tool.

    While Project Vault focuses on domestic resilience, its success depends on diversified upstream supply. In this context, mineral-rich Central Asia has emerged as a key region in US policy thinking. Kazakhstan and Uzbekistan were invited to participate prominently in the 2026 Critical Minerals Summit, underscoring growing US interest in the region as an alternative source of strategic materials.

    Central Asia collectively hosts deposits of more than 25 minerals classified as critical by the United States Geological Survey, including rare earth elements, tungsten, antimony, manganese, chromium, and titanium. Despite Kazakhstan’s long-standing role as the world’s largest uranium supplier and the region’s significant reserves, much of Central Asia’s mineral output remains underdeveloped or exported as raw material, primarily to China and Russia.

    Washington has signalled a shift from purely diplomatic engagement toward commercially driven cooperation. Alongside the traditional C5+1 framework, the US has increasingly relied on business-focused mechanisms such as the B5+1 platform to connect private capital with Central Asian projects. This approach is supported by US agencies including the US International Development Finance Corporation, the US Trade and Development Agency, and EXIM, all of which are expanding financing and technical support for critical minerals projects in the region.

    US officials argue that stockpiling alone cannot resolve supply vulnerabilities without parallel investment in downstream processing and refining capacity, much of which remains concentrated in China. As a result, future cooperation is expected to focus not only on extraction but also on building value-added processing capabilities in partner countries.

    Taken together, Project Vault and the intensified engagement with Central Asia mark a decisive shift in US critical minerals policy. Washington now views the region not just as a geopolitical partner, but as a potential long-term contributor to diversified, market-based supply chains that underpin US economic and national security.

  • Kazakhstan to Invest Over 8 Trillion Tenge in Expanding Coal Power Generation by 2030

    Kazakhstan to Invest Over 8 Trillion Tenge in Expanding Coal Power Generation by 2030

    Kazakhstan plans to invest more than 8 trillion tenge in expanding its coal-fired power generation capacity by 2030, the country’s Ministry of Energy of Kazakhstan said during a recent roundtable outlining the main areas of planned spending.

    Under a national project to develop coal-based power generation, Kazakhstan intends to construct five new thermal power plants in Kurchatov, Kokshetau, Semey, Ust-Kamenogorsk, and Zhezkazgan, as well as build Ekibastuz GRES-3. In parallel, the existing Ekibastuz GRES-2 and Aksu GRES power stations are set to undergo modernization.

    The national project focuses on introducing technologies that reduce atmospheric emissions from coal combustion. It предусматривает a gradual replacement of worn-out generation assets with modern, high-efficiency power units designed to minimize environmental impact. According to the ministry, the new coal-fired plants are expected to strengthen Kazakhstan’s energy security while meeting environmental standards.

    Investors for the construction of new power facilities will be selected through competitive tenders. For the modernization of existing plants, project operators will sign investment agreements directly with the Ministry of Energy. These mechanisms are intended to ensure transparency and provide investors with guaranteed returns, as electricity tariffs will be fixed under long-term contracts.

    To integrate the new generating capacity into the national energy system, the ministry also plans to increase coal production and further develop railway infrastructure. The proposals will be coordinated with other relevant government agencies before being incorporated into the final version of the national project.

  • Success Minerals Kazakhstan Plans Resource Evaluation in Aktogay District

    Success Minerals Kazakhstan Plans Resource Evaluation in Aktogay District

    Private company Success Minerals Kazakhstan Ltd plans to carry out a resource assessment of solid minerals at a 9.35 sq km site in Kazakhstan’s Aktogay district, according to a planned activity notice published on the country’s Unified Environmental Portal.

    The subsoil user intends to evaluate reserves and resources at the Akkuduk East and Akkuduk West deposits, as well as conduct geological exploration at known mineralisation points, geophysical anomalies, and ore occurrences identified within the licence area. The work is aimed at defining targets suitable for potential industrial development. Detailed prospecting across halo fields is also planned.

    Exploration activities are scheduled to begin in spring or early summer 2026 and continue through the end of 2030. The programme includes geophysical surveys, trenching over an area of 10,800 sq m, and the drilling of 140 exploration boreholes with a combined length of 35,000 metres. Collected samples will undergo laboratory testing, including chemical and geological analyses with a focus on copper content.

    As a result of the exploration campaign, the company plans to prepare geological maps of the deposits and ore occurrences, delineate ore zones and ore bodies, and calculate reserves and resources within the licensed area.

    The exploration licence was granted to Success Minerals Kazakhstan Ltd in January 2025. According to data from Kazakhstan’s eGov system cited by qazba.kz, the company is registered at the Astana International Financial Centre and is owned by Jinyu Sheng.

  • Glencore Shifts Focus to Asset Sales After Failed Merger Talks With Rio Tinto

    Glencore Shifts Focus to Asset Sales After Failed Merger Talks With Rio Tinto

    Following another breakdown in merger talks with Rio Tinto, Swiss mining major Glencore is turning its attention to asset sales as part of a strategy to strengthen its copper portfolio, Reuters reported.

    Discussions aimed at creating a global mining giant valued at around $240 billion collapsed this week due to disagreements over valuation and ownership structure. The failed talks mark the third unsuccessful attempt to merge the two companies, following earlier efforts in 2014 and 2024.

    As part of its portfolio reshaping, Glencore is expected to announce the sale of a 70% stake in KazZinc in the coming weeks. Analysts estimate the value of the asset at around $5 billion. KazZinc is a major producer of zinc, lead, and gold in Kazakhstan.

    Glencore Chief Executive Gary Nagle has repeatedly spoken in favour of industry consolidation, arguing that combining assets can unlock value and make the mining sector more attractive to investors.

    The company has also set a long-term goal of increasing copper production to 1.6 million tonnes by 2035, up from 852,000 tonnes produced in 2025, through a combination of new mine development and the restart of existing operations.

    In the near term, investors expect Glencore to prioritise divestments to create a more focused copper mining and metals trading business. Talks are reportedly under way to sell a 40% stake in Glencore’s copper and cobalt operations in the Democratic Republic of Congo to a consortium led by Orion Critical Minerals, with backing from the United States.

    Separately, Glencore is exploring potential cooperation with Brazil’s Vale on the joint development of copper deposits in Canada.

    Since the collapse of the Rio Tinto talks, Glencore shares have fallen by more than 10%, although they remain up 19% year-to-date. The company is also reviewing its coal portfolio and has not ruled out a partial spin-off of coal assets to raise additional capital.

    In Kazakhstan, Glencore continues to invest in gold production. In December 2025, the company allocated nearly $500 million to extend the life of the Vasilkovskoye gold mine in the Akmola Region, operated by Altyntau Kokshetau, the main gold supplier for KazZinc.

    Industry expert Nurlan Zhumagulov noted that Altyntau Kokshetau ranked thirteenth among Kazakhstan’s largest taxpayers in 2025, contributing 142 billion tenge, a year-on-year increase of 47%.

    It was also reported that Kazakh businessman Shakhmurat Mutalip is in talks to acquire a 70% stake in KazZinc. In January 2026, he registered two new companies at the Astana International Financial Centre: KazZinc Group Ltd and Central Asia Resources Holding Ltd.

  • Illegal Gold Mining Uncovered in Kazakhstan’s Turkestan Region

    Illegal Gold Mining Uncovered in Kazakhstan’s Turkestan Region

    Kazakh authorities have uncovered an illegal gold mining operation in the Sozak district of the Turkestan Region, where a group of individuals was found to be unlawfully exploiting gold-bearing sites.

    According to investigators, 12 people carried out mining activities without the required permits, in violation of environmental regulations and industrial safety standards. As a result of the illegal operations, the group is believed to have extracted around 451 grams of gold.

    A pre-trial investigation has been launched under Parts 1 and 3 of Article 295-1 of the Criminal Code of the Republic of Kazakhstan, which covers offences related to the illegal extraction of mineral resources. Law enforcement agencies have conducted the necessary investigative procedures, and five of the suspects have been placed under house arrest as a preventive measure.

    Prosecutors stressed that unlawful mining poses a serious threat to the environment, undermines the country’s economic security, and carries criminal liability. Authorities said enforcement efforts will continue to deter illegal exploitation of mineral resources.

  • Why Central Asia Must Lead on Critical Minerals Cooperation

    Why Central Asia Must Lead on Critical Minerals Cooperation

    Senior officials from more than 50 countries gathered at the White House on February 4 for the United States’ first Critical Minerals Ministerial, marking a symbolic moment for Central Asia’s engagement in global resource diplomacy. Delegations from Kazakhstan and Uzbekistan underscored the region’s long-standing “multi-vector” foreign policy ambitions, but the meeting also highlighted a persistent challenge: turning diplomatic visibility into tangible industrial outcomes.

    While Washington’s message focused on openness and coordination, the imbalance between intent and execution remains stark. China has consistently converted engagement into financed, operational mining and processing projects, typically combining contractors, concessional financing, and long-term offtake agreements. By contrast, Western engagement has largely taken the form of memoranda of understanding and strategic frameworks that signal political alignment but stop short of delivering mines, refineries, or downstream capacity.

    Uzbekistan offers a contrasting model of what project readiness can look like. In March 2025, Tashkent unveiled a $2.6 billion, three-year programme encompassing 76 projects across 28 minerals, with a clear objective of moving beyond extraction toward processing and finished products. The initiative is structured for partners capable of execution at scale, rather than symbolic cooperation.

    The evolving US approach further complicates expectations. Washington is increasingly pursuing techno-economic sovereignty, integrating supply chain security, energy systems, advanced manufacturing, and artificial intelligence into a tightly coordinated industrial policy. Dependencies are reframed as vulnerabilities, and resilience has become a central organising principle. In this context, US engagement abroad is likely to be selective, focusing on de-risked, compliant projects that directly support domestic resilience goals rather than driving industrialisation in partner regions.

    This creates both a constraint and an opportunity for Central Asia. High-level political gestures, including the first-ever C5+1 Presidential Summit in Washington in 2025, have raised the region’s profile. Yet momentum will not emerge automatically from diplomacy alone. To shape outcomes, Central Asian governments and companies must proactively present bankable, project-ready opportunities, particularly through direct business-to-business engagement with US firms.

    Developing midstream capabilities is critical. Exporting raw ore is capital-intensive, logistically exposed, and low-margin. By contrast, refined metals and intermediate products can anchor value locally, create skilled employment, and reduce vulnerability to external supply chain shocks. Without this shift, the region risks deeper path dependency and gradual absorption into China-centric production networks.

    Ultimately, the future of Central Asia’s critical minerals sector will not be decided in Washington or Beijing alone. Strategic autonomy depends on the region’s ability to define priorities, structure viable projects, and act as the primary driver of its own industrial transformation.