President Kassym-Jomart Tokayev held a crucial meeting with Rio Tinto CEO Jakob Stausholm on September 18 to explore joint investment opportunities and discuss the expansion of Rio Tinto's mining operations in Kazakhstan. The meeting took place during President Tokayev's visit to New York for the UN General Assembly.
During the meeting, Jakob Stausholm shared Rio Tinto's ambitious plans to expand its operations within Kazakhstan, shedding light on the progress of copper exploration initiatives in the Kostanai and Karagandy regions. This move signifies Rio Tinto's commitment to harnessing the country's significant mineral resources to drive growth and development.
President Tokayev stressed the paramount importance of Kazakhstan's abundant mineral and raw material reserves in the context of modern high-tech industries. He underscored the nation's ongoing efforts in geological exploration, incorporating international best practices to facilitate substantial geological discoveries. The partnership with Rio Tinto is seen as a strategic step towards leveraging Kazakhstan's vast natural resources for mutual benefit.
Rio Tinto, a British-Australian multinational corporation, boasts an impressive $99 bn market capitalization, making it the world's second-largest mining company, trailing only behind Australian mining giant BHP. The company holds a diversified portfolio of assets across the globe, with significant operations in Australia (35%), Canada (34%), Europe (13%), and the United States (11%). Their interests span various sectors, including iron ore, aluminum, copper, bauxite, diamonds, uranium, and industrial minerals.
President Tokayev's visit to New York, which commenced on September 17, has seen him engage with top executives from major American companies to explore potential avenues for cooperation and investment. His visit also includes a scheduled address at the General Debate of the 78th session of the United Nations General Assembly, highlighting Kazakhstan's commitment to international partnerships and sustainable development.
The meeting between President Tokayev and Rio Tinto's CEO Jakob Stausholm signals a new chapter in Kazakhstan's mining industry, fostering collaboration between a global mining powerhouse and a nation abundant in mineral wealth. As Kazakhstan continues to modernize its mining sector and attract international investments, this partnership holds the promise of significant economic growth and development for the country.
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