The Republic of Kazakhstan's Minister of Industry and Construction, Kanat Sharlapaev, participated in the inaugural ceremony of the PDAC-2024 conference, a premier global event in the mining industry held in Toronto, Canada, the Ministry of Industry and Construction reported. His attendance signifies Kazakhstan's commitment to fostering international partnerships and advancing its mining sector.
PDAC, the Prospectors and Developers Association of Canada, is renowned for its dedication to enhancing the competitiveness and sustainability of the mining industry. With a rich legacy spanning back to the 1930s, PDAC facilitates dialogue among experts, investors, and leading mining companies to drive innovation and address emerging challenges in the sector.
Minister Sharlapaev seized the opportunity to engage with prominent figures in the global mining community, including executives from Rio Tinto and the World Bank's mining division. Discussions revolved around potential collaborations and the integration of cutting-edge technologies within Kazakhstan's mining landscape.
During his visit to the exhibition booths of Chile, Argentina, and Canada, Minister Sharlapaev explored the latest advancements in mining technology and identified areas of mutual interest for future partnerships. Emphasizing Kazakhstan's strategic position in the global minerals market, he highlighted the nation's vast potential for joint ventures and investment opportunities.
Kazakhstan's active participation in PDAC-2024 underscores its pivotal role as a key player in the international mining arena. By leveraging platforms like PDAC, Kazakhstan aims to attract foreign investment, foster innovation, and propel the growth of its domestic mining industry.
Mining Landscape in Kazakhstan
The mining sector constitutes a cornerstone of Kazakhstan's industrial infrastructure, contributing significantly to the nation's GDP, which reached 13.5% in the first nine months of 2023. With approximately 8,000 deposits encompassing various solid minerals, aggregates, and hydrocarbons, Kazakhstan ranks among the top global producers of commodities such as uranium, coal, copper, and gold.
Key players in the Kazakh mining industry include Eurasian Resources Group, Kazakhmys, Kaz Minerals, and Rio Tinto, among others. The regulatory framework governing mining activities is delineated by the Code on Subsoil and Subsoil Use (SSU Code), which underwent amendments in December 2023 to facilitate smoother transitions and enhance regulatory efficiency.
Under the SSU Code, Kazakhstan has adopted internationally recognized reporting standards to ensure transparency and accountability in resource estimation and reserve reporting. The recent extension of the transition period for reporting standards underscores Kazakhstan's commitment to aligning with global best practices.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)