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Kazakhstan-Canada Relations

Beyond Resources: Ambassador Kussainov on Kazakhstan and Canada’s Partnership in AI, Education, and Innovation

For decades, Kazakhstan and Canada built their partnership around natural resources. Today, that relationship is expanding into new territory. From artificial intelligence and innovation to education and workforce development, both countries are increasingly looking beyond traditional sectors to shape the next phase of cooperation. This trend is already reflected in economic indicators. More than 160 Canadian-linked enterprises operate in Kazakhstan, Canadian investment has exceeded U$ 6 billion since 1994, and bilateral trade reached approximately U$ 458 million in 2025. At the same time, sectors that will shape the competitiveness of both economies in the coming decades are gaining greater importance. “I believe Kazakhstan-Canada relations are entering a new and dynamic phase,” said Dauletbek Kussainov, Kazakhstan’s Ambassador to Canada, in an interview with The Times of Central Asia. According to him, changes in the global economy are creating new opportunities for cooperation between the two countries. “Canada brings world-class expertise, technology and investment, while Kazakhstan offers significant resource potential, industrial capacity, and a strategic position connecting major markets,” the ambassador said. Although mining and energy remain central to bilateral cooperation, the scope of engagement is expanding into areas linked to technology, innovation and workforce development. This shift is also visible in the practical agenda of bilateral relations. In June, Astana hosted several major events involving Canadian business representatives. The Astana Mining & Metallurgy Congress brought together representatives of around 70 companies from 15 countries, including Canada, while the seventh meeting of the Kazakhstan-Canada Business Council brought together more than 100 participants, including senior representatives of Kazakhstani government agencies, the business communities of Kazakhstan and Canada, experts and academics. “This year also marks the 30th anniversary of the Inkai joint venture, a lasting example of successful cooperation between Canadian and Kazakh partners,” Kussainov noted. Three decades after the creation of one of the most successful joint projects in the uranium sector, bilateral cooperation is gradually moving beyond the traditional resource-based partnership and expanding into new areas, from education and technology to innovation and workforce development. From Extraction to Value Creation Critical minerals remain one of the key areas of cooperation between the two countries. As Western economies seek to diversify supplies of strategic raw materials, Kazakhstan is attracting growing attention because of its mineral resources. Canada, in turn, has one of the world’s strongest areas of expertise in geological exploration, mining engineering and sustainable resource development. According to Kussainov, the greatest potential lies in three areas: geological exploration, mineral processing, and human capital development and knowledge transfer. Processing is becoming especially important. “Today, the key challenge for many resource-rich countries is not simply extracting minerals, but creating more value from them domestically,” the ambassador said. This point reflects a broader shift in Kazakhstan’s economic strategy. In recent years, the country has been placing greater emphasis on developing processing industries and localizing technological processes. In this context, Canadian expertise in engineering, metallurgy, processing technologies and industrial project management is particularly relevant. The discussion is not limited to traditional industrial competencies. “The same applies...

Mining

S&P Global Energy Executive Says Kazakhstan Can Move Toward Mining’s Top Tier

Wesley Monteiro, Global Market Engagement Lead at S&P Global Energy/Platts, said Kazakhstan has one of the strongest chances among mining jurisdictions to move from tier-two toward tier-one, speaking to The Times of Central Asia on June 12 on the sidelines of the Astana Mining & Metallurgy Congress in Astana. “This is the country with a big chance to move from tier-two to tier-one,” Monteiro said. He developed that argument around five factors: mineral breadth, scalable copper production, uranium, legacy mining waste, and Kazakhstan’s diplomatic architecture. “Actually, this is the only country in the world that has this combination,” he said. Monteiro used Canada and Australia as reference points for established first-tier mining countries. Kazakhstan is not yet in that category, he said, but the combination he described gives the country a credible path toward it. Monteiro was speaking from the S&P Global Energy/Platts side of the company, which provides market information, price benchmarks, supply-demand analysis, and commodity-sector intelligence, rather than from S&P Global Ratings. Kazakhstan, in his view, is being reassessed as part of a new global commodity framework shaped by energy security and flexibility, and materials security and flexibility. In that environment, Kazakhstan’s position could help reduce investor risk perception and support new or increased investment in the region. “We can see in the short to medium term a reduction in the risk perception that can trigger new investments or can increase the investments in the region,” Monteiro said. He then expanded on each of the five factors. Mineral Breadth The first pillar was mineral breadth. Monteiro pointed to copper, aluminum, zinc, uranium, and other minerals. He described this range as “mineral breadth” or “mineral range,” distinguishing Kazakhstan from mining jurisdictions built around a single resource. For Monteiro, that range was the starting point for the tier-one argument. Scalable Copper Production Within that mineral breadth, Monteiro singled out copper as the second pillar. Copper is central to the infrastructure behind electrification, power grids, data centers, and AI computing, and Monteiro said the demand is not distant or theoretical. “Now everyone needs copper, not 15 years from now — yesterday, actually,” he said. For Monteiro, Kazakhstan’s copper position is therefore not only about reserves. He distinguished between having the resource, having the capacity to produce it, and being able to develop it quickly. “One thing is to have,” he said. “Another thing is the capacity to have the production. The third thing is how fast you can develop this.” Uranium Uranium was the third pillar in Monteiro’s account of Kazakhstan’s mining position. He framed it through the renewed global debate over nuclear power, saying the sector has returned to strategic relevance after years in which some governments moved away from it following the Fukushima accident in 2011. Germany, he said, became the clearest example of that retreat, while France maintained a large nuclear base and, in his view, emerged in a stronger position. “Nuclear is back in the game,” Monteiro said. He said the renewed interest in nuclear power is...

Mining

Azerbaijan Moves Into Uzbekistan’s Gold and Critical Minerals Sector

Azerbaijan has moved from preliminary mining talks to signed project agreements in Uzbekistan. On June 16, state-owned AzerGold signed an agreement to jointly develop a gold deposit in Uzbekistan. A separate document covered a critical minerals project with NEQSOL Holding. Azerbaijani Prime Minister Ali Asadov and Uzbek Prime Minister Abdulla Aripov attended the ceremony in Tashkent. AzerGold chairman Zakir Ibrahimov and Uzbekistan's First Deputy Mining Minister Feruza Hamidova signed the gold agreement. Public releases provide few details on either project, naming no deposits and disclosing no reserve estimates, ownership split, investment value, production target, or timetable. Three Years of Groundwork AzerGold's entry into Uzbekistan dates to February 24, 2023, when the company signed a memorandum and agreement with Uzbekistan's Ministry of Mining Industry and Geology. The documents covered geological exploration and the development of gold deposits. In August 2024, the two sides discussed projects in Uzbekistan, Azerbaijan, and third countries, and agreed to deepen cooperation. By May 2026, Uzbek officials were reviewing prospective areas and project documents. "We have begun active joint work with the Azerbaijani company AzerGold on geological exploration in the territory of the Republic of Uzbekistan," Deputy Mining Minister Ural Yusupov said. He added that a decision on joint gold and silver exploration was expected by the end of the year. Yusupov identified Kashkadarya and Surkhandarya as areas under study for precious metals, and Karakalpakstan and Jizzakh for critical minerals. The June signing followed six weeks later, but did not identify the selected deposit. A Much Larger Gold Market AzerGold was established in 2015 and began operations in 2016. The company develops gold, iron, and other metal deposits in Azerbaijan and has extracted ore at its Chovdar gold mine since 2017. In 2025, AzerGold sold 73,200 ounces of gold and 93,200 ounces of silver. Revenue reached 439.3 million manats, about $258 million, up 43% from 2024. Uzbekistan's gold industry operates on a much larger scale. Navoi Mining and Metallurgical Company produced 3.15 million ounces of gold in 2025. The country has set production targets of 120 tonnes for 2026 and 175 tonnes by 2030. The country plans to invest $2.2 billion across 90 mining projects this year. Across the broader mining and metallurgical sector, projects worth $22 billion are expected to create 38,000 jobs. In February, AzerGold identified Uzbekistan and Kazakhstan as possible locations for international expansion. The company prefers brownfield projects with existing infrastructure and production bases. NEQSOL's Critical Minerals Track The second document is broader, covering a joint critical minerals project involving NEQSOL Holding but naming neither the mineral nor the deposit. The group also operates in energy, telecommunications, construction, and high technology. NEQSOL had already established a wider framework with Tashkent. In July 2025, the group and Uzbekistan's Ministry of Investment, Industry and Trade agreed to develop projects in geology and mining, energy, telecommunications, chemicals, construction materials, and digital technology. NEQSOL entered mining in 2025 through its acquisition of UMCC Titanium in Ukraine. UMCC operates the Vilnohirsk and Irshansk mining and processing complexes, which...

Critical Minerals

Uzbekistan’s $4.2 Billion Critical Minerals Plan Aims to Turn Raw Materials Into Industry

Uzbekistan has placed a $4.2 billion critical minerals program at the center of its industrial policy, as Tashkent seeks to turn Soviet-era mining strengths into higher-value production for modern supply chains. The country has long sold metals and minerals, but the program reviewed by President Shavkat Mirziyoyev on June 15 puts more emphasis on refining, laboratory work, skilled workers, and finished industrial goods. The new 2026-2030 program, which sets out 120 projects, aims to lift critical minerals output to $1 billion by 2028 and $2 billion by 2030. The first tranche, planned for this year, covers 12 projects worth $166 million and production of high-purity selenium, tellurium, and rhenium. It also includes 21 import-substituting products, including powder metallurgy auto parts and sulfuric acid. The plan landed as investors gathered in Tashkent for the Fifth Tashkent International Investment Forum. Mirziyoyev used the forum to make a broader reform pitch. “We are always open to investors interested in cooperating with Uzbekistan and ready for an equal and mutually beneficial partnership,” he said in his opening speech. He also announced plans for a Tashkent International Financial Center with zero rates for profit tax, value-added tax, property tax, and customs duties. Critical minerals give that investment pitch a clearer focus. Global buyers are looking for supplies that do not depend on a handful of processing hubs, while resource-rich countries want more of the value to stay at home. Uzbekistan is trying to move into that field with metals it already produces, especially tungsten and molybdenum, and with smaller but valuable materials used in electronics, aerospace, energy equipment, and advanced manufacturing. The Uzbekistan Technological Metals Complex, known as TMK or UzTMK, is the state vehicle for much of this work. The company says its portfolio includes tungsten, molybdenum, rhenium, graphite, selenium, tellurium, lithium, nickel, and cobalt. Its stated model is “mine-metal-market,” meaning a chain from extraction to metal products and buyers. The June 15 package adds practical details. Uzbekistan wants more than concentrates and semi-finished goods. The presidential briefing listed metal powders, alloys, rods, wire, industrial parts, and finished products. For tungsten and molybdenum, that means deeper processing inside Uzbekistan rather than sending value abroad. Chirchik, east of Tashkent, is set to play a larger role. The government plans to expand the Metals of the Future technopark and build up an R&D center there. The site is designed to support start-ups, commercialize applied research, and produce high-purity metals. A planned nano-analysis laboratory would process up to 1,000 samples a day once fully operational. Officials say it could replace $6.5 million in imported analytical services and generate $4 million through service exports. The lab is one of the more practical parts of the program. Mining projects need more than deposits and investment pledges. They need reliable samples, resource estimates that meet international standards, steady power, and proven processing methods. A credible laboratory in Chirchik would not remove all those risks, but it would make it easier to move from geological data to financed projects. Global demand...

Gold Mining

Kyrgyzstan Launches Gold Mining Project at Togolok Deposit

Kyrgyzstan has launched development of the Togolok gold deposit, in what officials describe as the first large-scale mining project since independence to be implemented entirely using domestic resources. Kumtor Gold Company said its subsidiary, Kumtor Operating Company, has begun work on the deposit, located in the remote, high-altitude Jeti-Oguz district of the Issyk-Kul Region. The Togolok deposit was first discovered in 1978. It lies in a mountainous area with harsh weather conditions and steep terrain. The nearest settlement, Ak-Shyirak village, is located nearly 3,200 meters above sea level and about 35 kilometers from the site. The deposit is approximately 560 kilometers from Bishkek. Kumtor Operating Company received a license to develop Togolok in August 2023, and a feasibility study completed a year later confirmed the project’s commercial viability. Preparatory work has included expanding narrow access roads to accommodate heavy trucks, building a new bridge over the Kaichy River, and constructing housing facilities for 85 workers. Kanimet Toktosunov, chairman of the board of Kumtor Operating Company, said mining operations began this spring. “Stripping operations are currently underway, and first ore extraction will begin in the coming months,” Toktosunov said. “Eight large mining trucks, two excavators, a loader and a grader for road maintenance have already been delivered to the site.” To support construction of the mining complex, Kumtor held an international tender and selected China Nerin Engineering Co., Ltd. as the contractor. The parties signed an agreement in April 2026 for the construction of industrial facilities needed to launch production. The company said the project is expected to become a milestone for Kyrgyzstan’s mining sector and add to the country’s industrial capacity. Kumtor Gold Company, fully owned by state-owned Kyrgyzaltyn, operates the Kumtor mine, Kyrgyzstan’s largest gold deposit, located in the Issyk-Kul Region at an altitude of around 4,000 meters. One of the world’s largest high-altitude gold mines, Kumtor was nationalized in 2021 after previously being operated by Canada’s Centerra Gold. According to Kyrgyzaltyn, the company produced 12,081 kilograms of gold in 2025, generating revenue of $1.434 billion and net profit of more than $706 million, while paying $246.5 million in taxes and other payments. Gold remains Kyrgyzstan’s main export commodity. In 2025, the country exported 6.2 tons of gold worth $682.8 million, accounting for nearly 24% of total exports, according to official data and previous reporting by The Times of Central Asia.

AMM 2026

U.S. Investors Show Growing Interest in Kazakhstan’s Mining Sector

U.S. investors are showing growing interest in Kazakhstan’s critical minerals sector, with attention increasingly focused not only on extraction but also on processing, metallurgy and broader supply-chain development, according to Nicole Rodgers, president of the U.S.-based Alliance for Mineral Security, an industry group representing companies involved in mining, processing and the use of strategic minerals. Rodgers spoke during the panel session “Investment Climate in Mining and Metallurgy” at the Astana Mining & Metallurgy Congress, AMM 2026, where she emphasized that predictability and regulatory consistency are among the most important conditions for attracting global capital. “In our view, Kazakhstan is moving in the right direction, including by harmonizing regulations with international standards, developing early-stage geological exploration, building industrial clusters and moving toward more sophisticated investment structures,” Rodgers said. “At the same time, American investors are interested not only in extraction, but in participating across the entire value chain.” She pointed to an agreement between U.S.-based Cove Capital and Kazakhstan’s national mining company Tau-Ken Samruk on the joint development of the Severny Katpar and Verkhne Kairakty tungsten deposits in the Karaganda region of central Kazakhstan. Under the deal, the investment package includes plans to build two processing plants and a metallurgical facility, with a total projected value of $1.1 billion. Interest from Washington has also been reinforced at the political level. Speaking at the C5+1 Critical Minerals Dialogue in June, U.S. Special Envoy for South and Central Asia Sergio Gor said Washington intended to play an active role in developing Central Asia’s mining sectors. “Interest in Kazakhstan from American investors is high, but for that interest to materialize in practice, infrastructure, energy capacity and skilled personnel are critical,” Rodgers added. While foreign interest is rising, industry representatives said Kazakhstan’s ability to convert that interest into long-term investment will depend on the consistency of its legal and regulatory framework. Nikolai Radostovets, executive director of the Republican Association of Mining and Metallurgical Enterprises, said amendments to Kazakhstan’s Subsoil Code, adopted in 2018, should now be aligned with changes in environmental, water and land legislation introduced in recent years. Ruslan Baimishev, president of the Kazakhstan Mining Chamber, also highlighted the importance of legislative stability, particularly in tax policy, saying investors require consistency in government decisions. World Bank Senior Mining Specialist Remy Pelon said many countries are reforming their mining sectors to meet growing demand for minerals needed for the global energy transition. At the same time, Pelon warned against overcorrection. “Governments must create conditions for the efficient use of mineral resources in the interests of national development, but it is equally important to preserve a balance between industrial policy, openness to new market players and competitiveness,” he said. “That balance is especially important for countries aiming not only to extract raw materials, but also to develop processing, local manufacturing and technological expertise.” Kazakh officials used the forum to underscore recent legal measures designed to improve investor protections. Arman Khassenov, deputy chairman of the Committee for the Protection of Investors’ Rights under the Prosecutor General’s Office,...