Kazakhstan is spearheading the reform in the mining sector aimed at improving the terms for international investors interested in developing greenfield and brownfield projects. In December 2017 Kazakhstan adopted the Code “On Subsoil and Subsoil Use”, the Tax Code and a number of legislative acts aimed at creating a stable environment for subsoil users and stimulating inward investment in the mining sector. The new financial hub for funneling funding into economic growth of Kazakhstan and countries of the Central Asian region is being developed by the International Financial Centre in Astana. Uzbekistan and the Kyrgyz Republic are also carrying out reforms aimed at attracting investments into geological exploration and modernisation of mining enterprises. The mining industry in Central Asia is actively modernising to improve efficiency and reduce costs. “Industry 4.0” technologies are being implemented by major players. Use of artificial intelligence in managing mines in Kazakhstan has become a reality. Exploration companies are implementing new technologies and methods for accelerated prospecting and evaluation of deposits.
These market changes create favorable conditions for investing in mining projects, transfer of cutting-edge technologies and unlocking vast mineral and metals potential of Kazakhstan and the countries of Central Asia.
- What is the main factor that determines the growth of the mining industry in Kazakhstan? Government policy? Prices for metals or New Technologies?
- What prevents modernization?
- To what extent do the participants’ expectations justify the changes in the legal regulation of the industry in Kazakhstan?
- Will the development of the international financial hub in Astana help to attract new money to geological prospecting projects?
- In which projects are investors ready to invest?
- What role should the government play in the development of mineral resources?
- How seriously do mining companies relate to environmental protection?
Answers to these and many other questions you will find in the survey we have conducted alongside the 9th MINEX Central Asia Mining & Exploration Forum in Astana
Here’s are the survey results and comments – http://minexasia.com/2018/minex-central-asia-2018-survey/
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