• KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
06 October 2024

Viewing results 1 - 6 of 4

Kyrgyzstan Promotes Investment in Mineral Resources

On June 19, Bishkek hosted the 10th mining and geological forum “MINEX Central Asia” with the participation of over 100 companies from 22 countries of Central Asia, Europe, China, North America, and the Middle East. Addressing the forum, Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov reported that 95% of the territory of Kyrgyzstan consists of mountains, the depths of which are rich in minerals, not only gold and coal, but also iron (one section of one deposit alone, contains over 5 billion tons of ore), titanium, and high in demand rare earth metals such as europium, zirconium, cesium, and group of lanthanides. Citing examples, the prime minister said that the predicted reserves of titanomagnetite in just one area of ​​the Kyzyl-Ompol deposit, amount to some 20 million tons, and the reserves of rare earth metals, including more than 21 elements, at Kutessay-2 deposit, to around 60 thousand tons. “These reserves were recorded more than 50 years ago, and there is an opinion among authoritative geologists and scientists that these figures could increase significantly following more detailed geological exploration using new technological solutions. We invite partners to engage in joint geological exploration and are seeking investors in this promising sector of the economy – mining,” explained Japarov. Regarding Kyrgyzstan’s current climate, which ultimately determines its attraction to investors, he stated: “Political stability has been achieved through the improvement of our country’s economic situation. We have achieved a sharp reduction in the shadow economy, an increase in tax revenues and customs duties and, accordingly, an increase in wages for teachers, medical doctors, cultural workers, an increase in the [economic] activity of impoverished citizens, and a tough fight against corruption and crime. As a result, 82% of the population supports the course set by the country's leadership, headed by the President; a fact substantiated by the International Republican Institute (IRI).” In conclusion, he remarked,  “Our people are experiencing improvements across the board – and after- three revolutions, we are focused on creating a better economy for our country.”  

Major Mineral Fertilizer Production Plant Planned for Kazakhstan

EuroChem, a global fertilizer leader and China National Chemical Engineering Co. (CNCEC), a global provider of industrial engineering technologies are to collaborate on the design, construction, and commission of a large-scale chemical complex to produce mineral fertilizers in Zhanatas located in Kazakhstan’s Zhambyl region. The agreement was officially signed on 14 May in Astana. Scheduled to open in 2027, the construction of  the chemical complex is part of the Integrated Kazakhstan Industrialization Roadmap and represents the third and final stage of a project in which EuroChem has invested over US$1 billion. EuroChem Group President Oleg Shiryaev said that once in operation, the plant will have an annual output of over one million tons of mineral fertilizers, in high demand by Kazakhstan, other Central Asian countries, China, Russia and Europe. According to a report by the Kazakh Ministry of Industry and Construction, the new enterprise will create 2,400 new jobs. During the signing of the agreement, Minister of Industry and Construction of Kazakhstan Kanat Sharlapaev, welcomed the input of  world leaders in mineral fertilizer production as an important step in developing the country's chemical industry and emphasized: “To be truly food secure, fertilizers are a must. This is therefore a landmark project for us. Its joint implementation with EuroChem and Chinese partners is a great example of large Eurasian cooperation at its best and a significant event for regional food security.”    

Kazakhstan To Auction Rights For 100 Mineral Deposits

At a meeting with President Kassym-Jomart Tokayev on April 8th, Kazakhstan’s Minister of Industry and Construction Kanat Sharlapayev reported on plans regarding geological prospecting and the use of subsoil. According to the minister, Kazakhstan is poised to auction rights for subsoil use at 100 solid minerals deposits. Sharlapayev also highlighted a 2.5-fold growth in private investment in geological exploration of solid minerals. With the introduction of the digital platform “E-Qazyna.kz,” auctions are now conducted electronically, resulting in a significant increase in transparency and accessibility. In a statement, the minister stressed, “Participation in the auctions by major global companies, including Rio Tinto and Fortescue, indicates increasing competition for the opportunity to explore potentially resource-rich, but as yet undeveloped fields in Kazakhstan.” Major international companies including Arras Minerals, Rio Tinto, IG Kazakhstan, Fortescue, East Star Resources, Pallas Resources, Sarytogan Graphite, and Esan Eczacibasi have now invested at least 41 billion tenge on the excavation of areas amounting to 25 thousand square kilometres.

U.S. and Central Asian Countries Launch C5+1 Critical Minerals Dialog

On February 8th, the U.S. Department of State hosted the inaugural meeting of the C5+1 Critical Minerals Dialog (CMD), an initiative announced by Joe Biden and the presidents of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan at their C5+1 summit in New York in September 2023. The C5+1 Critical Minerals Dialog aims to increase the region’s involvement in global critical minerals supply chains, strengthen economic cooperation, and advance the transition to clean energy, while also protecting Central Asia’s unique ecosystems, the U.S. Department of State said. The United States Under-Secretary for Economic Growth, Energy, and the Environment, Jose W. Fernandez, chaired the CMD meeting, and Assistant Secretary of State for Energy Resources, Geoffrey Pyatt moderated the event, accompanied by Deputy Assistant Secretary of State for Central Asian Affairs, John Mark Pommersheim, and colleagues from across the U.S. government who work on critical minerals.  Senior officials from each of the Central Asian governments shared their interest in developing investment opportunities in critical minerals that meet the highest environmental standards. The participants of the meeting underscored the benefit of working together to advance their countries’ shared critical minerals objectives including diversification of markets and development of technologies.