MINEX Forum

Website: Kazakhstan.com

  • Kazatomprom and JUMCO Forge Uranium Mining Partnership in Jordan

    Kazatomprom and JUMCO Forge Uranium Mining Partnership in Jordan

    During an official visit by Kazakhstan’s President Kassym-Jomart Tokayev to Jordan, Kazakhstan’s national atomic company, Kazatomprom, and Jordan Uranium Mining Company (JUMCO) signed a memorandum of understanding to explore joint uranium mining projects. The agreement aims to assess the feasibility of uranium extraction in Jordan and strengthen Kazakhstan’s role in the global uranium industry.

    Kazatomprom CEO Meirzhan Yussupov emphasized that the partnership with JUMCO opens new opportunities for international cooperation and enhances Kazakhstan’s strategic expansion efforts. He noted that potential projects outside Kazakhstan would allow for knowledge exchange and contribute to sustainable development.

    The memorandum outlines plans to evaluate uranium deposits in Jordan, focusing on refining geological characteristics and implementing heap leaching mining technology. Environmental sustainability and economic viability will be key factors in determining the project’s future.

    JUMCO’s General Manager Mohammad Al-Shannag highlighted that the agreement will accelerate Jordan’s commercial uranium production, enabling technology sharing and market insights from Kazatomprom, the world’s leading uranium producer.

    Beyond mining, the partnership is expected to boost Jordan’s nuclear industry, create jobs, enhance infrastructure, and engage local contractors. For Kazakhstan, entry into a new market represents a strategic move to solidify its global influence and strengthen bilateral economic ties with Jordan.

    Both companies have committed to long-term cooperation based on safety, efficiency, and environmental responsibility. They plan to exchange expertise, adopt new technologies, and improve industry standards, laying the foundation for a sustainable uranium sector in both nations.

    Meanwhile, on December 6, 2024, international rating agency S&P Global assigned Kazatomprom a Corporate Sustainability Assessment (CSA) score of 48/100, with an overall ESG rating of 50/100, reflecting the company’s environmental, social, and governance performance.

  • Kazakhstan’s Kazatomprom Signs Uranium Supply Deal with Swiss Power Giant

    Kazakhstan’s Kazatomprom Signs Uranium Supply Deal with Swiss Power Giant

    Almaty, Kazakhstan, 17 February 2025 – Kazatomprom, the world’s largest uranium producer and a subsidiary of Samruk-Kazyna, has signed its first contract to supply uranium to Swiss nuclear power plants. The agreement was signed with Axpo Power AG, a major Swiss energy company, in collaboration with Kernkraftwerk Leibstadt AG (KKL AG), the operator of the Leibstadt nuclear power plant.

    The signing ceremony took place at Axpo Power AG’s headquarters in Switzerland during a visit by a Kazatomprom delegation. While the volume of the supply deal has not been disclosed, the agreement marks a significant step in Kazatomprom’s strategy to diversify its uranium sales channels and expand its global market reach.

    “We are proud that this first commercial contract between Kazatomprom and Axpo opens the way for important cooperation between our companies,” said Vladislav Bayguzin, Chief Commercial Officer of Kazatomprom. “Expanding our sales geography underscores Kazatomprom’s recognition as a reliable uranium supplier in the global market. This contract is a crucial step in our strategy to diversify our sales channels.”

    Bayguzin emphasised that the agreement plays a key role in ensuring energy security and decarbonisation, strengthening the partnership between the two companies and guaranteeing long-term supplies of natural uranium for Switzerland’s nuclear energy sector.

    Bruno Zimmermann, Head of Nuclear Fuel at Axpo Power AG, echoed this sentiment, stating, “This agreement with Kazatomprom, the world’s leading uranium producer, is strategically significant for Axpo and KKL AG as we continue to diversify and secure our fuel supplies. Nuclear energy is a key element of our country’s low-carbon energy strategy, so reliable fuel supplies are crucial. Including Kazatomprom among our suppliers strengthens our ability to ensure stable energy supply in Switzerland and contribute to global decarbonisation efforts.”

    This contract represents a new chapter in Kazatomprom’s collaboration with European nuclear power plant operators and reinforces its position as a leading player in the global uranium market. Notably, Axpo Power AG is also Switzerland’s largest producer of renewable energy, including solar and wind power.

    Kazatomprom’s performance in 2024 saw growth in production of U3O8, reaching 23,270 tonnes, a 10% increase compared to 2023. However, sales volume declined to 16,670 tonnes, an 8% decrease from 2023. Despite this, the average sales price per pound of U3O8 reached $69.72 in 2024, a 27% increase from 2023’s $55.09 per pound. Spot prices averaged $85.24, a 36% increase compared to 2023’s $62.51.

    Looking ahead, Kazatomprom anticipates producing between 25,000 and 26,500 tonnes of uranium in 2025, an increase of 7.4% to 13.9% compared to 2024. The company also projects a 20% allowable deviation in uranium production across its group of enterprises in 2025.

  • Kazakhstan Embarks on a Second Phase of Mining Sector Reform

    Kazakhstan Embarks on a Second Phase of Mining Sector Reform

    Photo: agmp.kz

    On 26 February 2025, Maqsut Narikbayev University hosted a roundtable discussion tackling crucial issues surrounding the country’s mining sector, particularly focusing on the implementation of the Unified Platform for Mineral Resource Use (minerals.e-qazyna.kz).

    The event, chaired by Minister of Industry and Construction Kanat Sharlapaev and Acting Chairman of the Board of the National Business Chamber of Kazakhstan “Atameken” Raimbek Battayev, brought together key stakeholders, including representatives from mining companies, government agencies, and industry associations.

    Need for Continued Development:

    Minister Sharlapaev highlighted the government’s commitment to boosting Kazakhstan’s mineral resource base by intensifying geological exploration. He acknowledged the significant contributions of major mining companies in expanding these exploration areas and praised the effectiveness of the 2014-2018 legislative reforms, which introduced the licensing principle for geological exploration.

    Emphasising the need to sustain this progress, Minister Sharlapaev stressed the importance of developing a robust regulatory framework that fosters a favorable investment climate in the mining sector. He further underscored the imperative of prioritizing industrial safety, encouraging its integration into the corporate culture of mining companies.

    Unified Platform: A Transparent and Efficient System:

    Vice-Minister Zhanat Dubirova took the opportunity to present the Unified Platform for Mineral Resource Use. This online platform provides open access to all geological data, streamlining several processes.

    The platform currently offers 22 digitalised government services and has already processed 506 applications since its launch. It serves as a one-stop shop, providing potential mineral resource users with comprehensive information on a proposed site, including infrastructure details, geological reports, and available licenses.

    Dubirova pointed out the innovative aspects of the platform, such as the interactive map that allows users to visualise the land status, upcoming auctions, and relevant geological data, eliminating the need for intermediaries.

    Streamlined Control and Regulatory Framework:

    The platform also facilitates greater transparency and efficiency in monitoring compliance with licensing and contractual obligations. Previously, this control was largely manual, but now, automated verification systems will ensure real-time updates and streamline interactions between the government and mining companies.

    Towards the Second Phase of Reform:

    Nikolai Radostovets, Executive Director of the Association of Mining and Metallurgical Enterprises (AGMP), expressed support for paperless operations and emphasized the need for training on the digital platform. He proposed conducting this work systematically on a weekly basis, providing company specialists with opportunities not only for training but also for project refinement.

    Radostovets emphasized that the subsoil use reform requires further development. He proposed moving to the second stage of reform, noting that the President of Kazakhstan highlighted the continuation of subsoil use reform in his speech at an expanded government meeting.

    To address this issue, Radostovets requested the minister to resume the activities of the Working Group on amendments to the Subsoil Code, which was created last year, and to involve consultants and experts.

    “We still have many unresolved issues regarding land and water matters after the reform,” he said. “It is necessary to bring the Subsoil Code into compliance with other regulatory legal acts. AGMP has worked with companies on about 60 amendments to the Subsoil Code. On behalf of all subsoil users, we ask you to submit amendments to the Subsoil Code to Parliament this year or to finalize the draft law currently under discussion to advance reforms on a wide range of issues.”

    Minister Sharlapayev agreed with the need to further advance the reform in subsoil use and resume the Working Group’s activities. He proposed involving a law firm in developing the legislative act to ensure the document is competent, well-thought-out, and developed through collective dialogue with deputies and government agencies. According to him, there is an opportunity to submit the draft law to Parliament in 2025, as provided for in the legislative work plan.

    Industry Participation:

    The roundtable was attended by experts and executives from major companies including ERG, Solidcore Resources, Kazakhmys Corporation, Qarmet JSC, Altynalmas JSC, Kazzinc Holdings, Qaragandy Power Silicon, the Association of Precious Metals Producers, Kazakhstan Mining Chamber, Er-Tai LLP, National Geological Service, KAZRC Association, Caravan Resources LTD, TENIR LOGISTIC, Chu lli Resources Ltd, Kazakhstan Foreign Trade Chamber, Kazatomprom, and Tau-Ken Samruk.

    The meeting concluded with a question-and-answer session, highlighting the collaborative approach between government and industry stakeholders in advancing Kazakhstan’s mining sector reforms.

  • Kazakhstan’s Ulytau Region Signs Cooperation Memorandum with Kazcink

    Kazakhstan’s Ulytau Region Signs Cooperation Memorandum with Kazcink

    A memorandum of cooperation and interaction between the Ulytau Regional Akimat and Kazcink LLP was signed today, marking a significant step towards supporting the economic development of the Ulytau region and implementing social and infrastructure projects. During the signing ceremony, the regional akim and Kazcink leadership emphasized that this partnership would make a substantial contribution to the sustainable development of the region.

    According to the memorandum, Kazcink LLP will finance 10 social projects in the Zhayrem settlement of Ulytau region this year. These initiatives will focus on healthcare, sports, infrastructure, and improving social facilities.

    Notable plans for 2025 include the construction of a sports complex, installation of external engineering networks, and landscaping within a 60-apartment residential complex project. Additionally, the company will provide coal for heating plants and residential houses. The purchase of 20 apartments for public sector workers, including doctors and teachers, is also planned.

    It is important to note that the partnership between the Ulytau regional akimat and Kazcink began in November 2022. Since then, numerous projects have been implemented that have positively impacted the region’s development and improved the quality of life for its residents.

  • Kazakhstan’s Industry Minister Discusses Subsoil Use Reforms with Mining Chamber

    Kazakhstan’s Industry Minister Discusses Subsoil Use Reforms with Mining Chamber

    Kanat Sharlapaev, the Minister of Industry and Construction of Kazakhstan, held a quarterly meeting with members of the Kazakhstan Mining Chamber Association. The association unites 45 companies, both domestic and foreign investors.

    The Minister emphasized that junior and large international companies entered Kazakhstan after reforms in the subsoil use sector and are making significant contributions to the geological study of the country’s territory.

    He also underscored the importance of private investments and the introduction of advanced technologies in geological exploration.

    During an open dialogue, Kanat Sharlapaev and Chamber members discussed the further development of international reporting standards, taxation issues, and challenges affecting the investment climate.

    The Minister stressed the need to continue the reform process in the subsoil use sector and called for more active cooperation with the Association to develop Kazakhstan’s geological sector.

  • Kazakhstan Summarizes 2024 Results in Geology and Subsoil Use

    Kazakhstan Summarizes 2024 Results in Geology and Subsoil Use

    The Ministry of Industry and Construction of Kazakhstan has released its report on the results for 2024 in the fields of geology and subsoil use. A key objective for the Ministry is to increase the geological exploration of Kazakhstan’s territory to replenish the country’s mineral resource base, thus supporting the active development of all industrial sectors.

    Kazakhstan’s mineral resource base includes over 9,500 deposits, including 987 deposits of solid minerals, 355 hydrocarbon deposits, more than 3,500 deposits of common minerals, and over 4,500 groundwater deposits.

    In the past year, 23 new deposits were registered by subsoil users, and the exploration results showed an increase in reserves: 20 tons of gold, 48,000 tons of copper, 464,000 tons of chrome, and about 290,000 tons of lead and zinc.

    The average reserve fulfillment coefficient for gold, uranium, iron, and manganese has shown a 2% increase over the last decade.

    Efforts to attract investments into subsoil use are also ongoing, with the state geological exploration program identifying 38 promising areas for solid minerals, including rare earth metals (2.6 million tons), beryllium (23,800 tons), brown coal (1.1 billion tons), gold (19 tons), zirconium (2 million tons), niobium (500,000 tons), and tungsten (400,000 tons).

    Additionally, the Kuyretykol deposit has been discovered, with reserves of around 800,000 tons of rare earth metals, including cerium and lanthanoids.

    The opening of areas available for geological exploration has led to a significant rise in private investments for the exploration of solid minerals. In 2023, private investment increased 2.5 times compared to 2018, reaching 82 billion tenge.

    In 2024, 606 exploration licenses were issued, showing growth from previous years. For mining, 33 licenses were issued.

    Private investment in geological exploration is on the rise, as businesses show increased interest in searching for promising subsoil areas. In 2024, two electronic auctions took place, with major foreign companies such as Rio Tinto, Fortescue, Kratos Resources, and others competing with local companies like Kazakhmys and ERG Exploration for exploration rights.

    Foreign companies are already operating in Kazakhstan, investing in exploration with at least 41 billion tenge and social obligations totaling 7.8 billion tenge, covering an area of 25,000 km². The expected results from the exploration of these deposits are expected between 2026 and 2028.

    Growth in private investment in geological exploration is directly linked to the level of funding and effectiveness of early-stage geological studies that identify promising exploration areas. State geological exploration funding amounts to approximately 8 USD per square kilometer.

    From 2018 to 2023, the allocation for geological exploration amounted to 51.2 billion tenge, while investments in subsoil use exploration reached 357 billion tenge.

    In January 2025, an electronic auction for 21 plots took place, attracting over 50 companies. The total signing bonus amounted to 20 billion tenge, with investments of 40 million USD attracted.

    Stable funding for state geological exploration positively impacts private investments and stimulates further exploration. This is essential for expanding the country’s mineral resource base.

    On January 1, 2025, the Unified Subsoil Use Platform (minerals.e-qazyna.kz) was launched, providing open access to all geological data. The platform has digitized 22 government services, processing 506 applications since its launch. It contains a register of geological reports, including over 60,000 reports for free online access, and provides detailed information about licenses, contracts, occupied and free territories, and previous geological and geophysical studies.

    For specific geological materials, subsoil users can apply through the National Geological Service’s website, and requests are processed within five business days.

  • Kazakhstan Discusses Digitalization of Subsoil Use at Round Table Meeting

    Kazakhstan Discusses Digitalization of Subsoil Use at Round Table Meeting

    A round table was held in Astana at Maqsut Narikbayev University under the chairmanship of the Minister of Industry and Construction of Kazakhstan, Kanat Sharlapaev. The event brought together representatives of subsoil user companies to discuss key issues in the fields of geology and subsoil use.

    The Minister emphasized that one of the ministry’s priorities is to enhance geological exploration across Kazakhstan to replenish the country’s mineral resource base. He also reviewed the past year’s results and outlined plans for the current period.

    Deputy Minister Zhannat Dubirova presented projects aimed at digitalizing the sector, including the Unified Subsoil Use Platform (minerals.e-qazyna.kz). According to her, since its launch, the platform has processed 506 applications and provides users with open access to all geological data, including 60,000 reports.

    The platform’s interactive map enables subsoil users to analyze infrastructure, geological, and geophysical data for specific areas, as well as submit auction applications. Additionally, by April, an electronic system for monitoring compliance with license and contract obligations is set to be introduced.

    Round table participants also discussed the digitalization of primary geological reports and the need to integrate the platform into company operations.

  • UK Expertise Sparks a Sustainable Mining Revolution Across Europe and Central Asia

    UK Expertise Sparks a Sustainable Mining Revolution Across Europe and Central Asia

    According to the document “UK Capabilities in Mining for Critical Minerals – Industry Case Studies” recently published by the Department for Business and Trade, UK expertise is powering a new wave of mining innovation across Europe and Central Asia, according to a recent industry case study slide pack. The document highlights how British companies are leveraging cutting‐edge technology and sustainable practices to transform mining operations on two continents.

    In Kazakhstan, Central Asia Metals (CAML) is at the forefront. At its Kounrad operation, CAML has installed a 4.77MW solar power plant that now meets up to 18% of the site’s energy demand. This renewable solution not only cuts down on emissions but also underpins the company’s long-term commitment to sustainability. Meanwhile, at its Sasa mine in North Macedonia, CAML is pioneering paste fill mining methods designed to drastically reduce reliance on surface water, marking a significant step towards more sustainable resource extraction.

    Over in Europe, the Vareš Polymetallic Project in Bosnia and Herzegovina is making headlines as the first new mine to open in the region in over a decade. Spearheaded by Adriatic Metals and supported by Wardell Armstrong International, the project showcases how integrated technical expertise—from metallurgical testing to comprehensive ESG assessments—can drive both economic growth and environmental responsibility.

    These case studies underscore the global reach of UK mining capabilities. From renewable energy integration to innovative water management and robust environmental frameworks, British-led solutions are setting a new standard for mining in Europe and Central Asia. As the demand for critical minerals continues to rise, these pioneering projects offer a blueprint for sustainable development that could well shape the future of the industry.

  • Central Asia Mining: Shifting Investment Landscape

    Central Asia Mining: Shifting Investment Landscape

    Central Asia’s mining sector—long a linchpin of the region’s resource-based economy—is at a transformative juncture. A study published on 19 February 2025 by the Eurasian Development Bank (EDB) examining mutual direct investments (MDI) across the Eurasian region from 2016 to the first half of 2024 reveals an evolving investment landscape. Traditionally dominated by investments in extractive industries, the region is now witnessing a broad diversification into sectors such as manufacturing, power, and greenfield projects. Alongside these trends, emerging regulatory frameworks—most notably new Chinese legislation concerning post-mining reconciliation and ESG (Environmental, Social, and Governance) requirements—are poised to significantly influence future investment dynamics.

    Historical Pillar: The Dominance of Extractive Industries

    For decades, mining and the broader extractive industries have formed the backbone of economic development in Central Asia. Rich deposits of minerals and metals have attracted substantial international investment, particularly from China, whose longstanding focus on extractive projects translated into investments of $36.2 billion. This capital influx has been instrumental in developing the region’s infrastructure and export capabilities, cementing mining’s role as a critical driver of economic progress.

    A Shifting Investment Landscape

    While the total MDI stock in the Eurasian region reached $90.4 billion by mid-2024, the extractive sector’s share of investment has begun to contract. Once accounting for 65.4% of the investment portfolio in 2020, its share has decreased to 55% of a $50 billion stock. This trend is less a sign of waning interest in mining and more indicative of a broader reallocation of capital as investors seek opportunities in the new and adjacent sectors.

    Diversification: From Mines to Manufacturing and Power

    The diversification of investments in Central Asia is underscored by significant growth in the manufacturing and energy sectors. Chinese investments, traditionally concentrated in extractive industries, are increasingly flowing into power and manufacturing. For example, investment in the power sector surged to $4.1 billion—a 2.1-fold increase in just a year and a half—primarily in Uzbekistan, while the manufacturing sector attracted $11.8 billion. This capital reallocation suggests that investors are now betting on a more diversified economic future that balances resource extraction with value-added industries.

    Regional Dynamics and the Role of New Partners

    Central Asia’s investment ecosystem is undergoing a fundamental reshaping, influenced not only by traditional players like China but also by new entrants from Türkiye, the Gulf states, and Iran. China remains the largest investor with an MDI stock of $58.6 billion, yet its strategy is evolving from a heavy reliance on extractive projects to a broader portfolio that includes energy, processing and manufacturing. Emerging investments from Saudi Arabia, UAE, Qatar, and Türkiye further illustrate the region’s expanding appeal. This diversification not only mirrors geopolitical shifts but also signals a recalibration of global investors’ risk and reward strategies in an increasingly competitive market.

    Emerging Regulatory Frameworks: China’s Revised Mineral Resources Law

    Adding a new dimension to the evolving investment landscape, recent Chinese legislative reforms are reshaping how mining investments will be planned and executed. According to a report by ICLG law firm, China has revised its Mineral Resources Law (effective from 1 July 2025) to include robust post-mining reconciliation requirements. These new provisions mandate that mining companies develop comprehensive ecological restoration plans once extraction activities cease. Such measures are designed to enforce ESG principles across the industry, ensuring that environmental sustainability and community welfare are prioritised alongside economic gains.

    While the law represents a significant step towards more sustainable mining practices, critics have noted that it lacks clear standards and robust community engagement provisions. The ambiguity surrounding enforcement may challenge the law’s effectiveness in practice. Nevertheless, as Chinese companies are pivotal players in Central Asia’s mining sector, these regulatory changes are expected to have far-reaching implications. By requiring adherence to ESG standards and post-mining reconciliation, the revised law not only elevates environmental and social accountability but also enhances the long-term viability of Chinese investments in the region.

    For Chinese investors, the new legal framework serves as both a challenge and an opportunity. On one hand, increased compliance costs and uncertainty in implementation could complicate investment decisions. On the other, the mandate for sustainable practices is likely to build greater investor confidence among international stakeholders who are increasingly attuned to environmental and social governance criteria. In effect, these reforms could catalyse further Chinese investments in Central Asia by promoting responsible mining practices that align with global trends toward sustainability.

    Greenfield Projects and the Future of Mining in Central Asia

    The momentum of greenfield projects further underscores the region’s dynamic evolution. With investments in new business and infrastructure soaring to $57 billion—almost double the levels of 2016—the emphasis is on modern, sustainable projects that integrate advanced technologies and greener practices. Even as capital shifts towards manufacturing and energy, the mining sector is adapting by incorporating sustainable practices and innovative technologies. This approach not only mitigates the historical environmental impact of mining but also positions the sector as a leader in sustainable resource management.

    Navigating the Future: Challenges and Opportunities

    Central Asia’s mining sector now stands at a crossroads. While traditional extractive investments continue to underpin the region’s economic strength, the emerging trends towards diversification and sustainability present both challenges and opportunities. Investors are increasingly weighing the volatility inherent in commodity markets against the more stable returns offered by sectors such as energy and manufacturing. Moreover, the integration of ESG principles—fuelled by legislative changes like China’s revised Mineral Resources Law among others—introduces a new layer of complexity, urging mining companies to innovate and adapt.

    Technological advancements, ranging from automation to environmentally friendly extraction techniques, hold the promise of revitalising the mining sector. These innovations, in tandem with the new regulatory environment, could help balance economic imperatives with ecological and community well-being. The successful navigation of these changes will be critical in ensuring that Central Asia’s natural resouces wealth continue to drive sustainable and long-term growth.

    Don’t miss the opportunity to explore Kazakhstan’s vast mineral wealth and connect with decision-makers shaping the future of mining in Central Asia at MINEX Kazakhstan Forum.

    MINEX Kazakhstan 2025 will feature:

    • 100+ expert speakers
    • 450+ delegates from 30+ countries
    • 50+ exhibitors showcasing cutting-edge technologies
    • Networking opportunities with key industry stakeholders

    Register here to secure your place at the Forum.

    We look forward to welcoming you in Astana!

  • Gold Ore Mining in Kazakhstan Increased by 14% in January 2025

    Gold Ore Mining in Kazakhstan Increased by 14% in January 2025

    The beginning of 2025 proved to be successful for Kazakhstan’s mining enterprises: in January, 3.42 million tonnes of gold-bearing ore were extracted, marking a 14.1% increase compared to the same period last year, according to a report by the Bureau of National Statistics.

    Gold concentrate production surged by 46.4% to 36,000 tonnes. However, due to the declining gold content in ores at major deposits, gold extraction showed a negative trend. As a result, companies produced 8.38 tonnes of unrefined and semi-refined gold, 16% less than in January 2024. Refineries produced 3.4 tonnes of gold, reflecting a 32.8% decline year-on-year.

    The situation is even more challenging for silver producers. The output of unrefined and semi-refined silver amounted to 32.55 tonnes, while refined silver production totaled 31.63 tonnes, both figures showing a 50% drop compared to the previous year.

    Meanwhile, Kazakhstan’s international reserves showed positive dynamics for the first time since September 2024. According to Zakon.kz, the growth was driven by an increase in net foreign exchange reserves, reaching $45 billion.