Chinese company implements mining and metallurgy project in Kazakhstan

16 August, 2024

Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Kuantyrov and Chairman of the Board of JSC NC Kazakh Invest Yerzhan Elekeyev met with Chairman of the Chinese company Zijin Mining Group Co. Ltd Chen Jinghe. During the meeting, the parties discussed the prospects for implementing the company's investment project to develop gold, copper and polymetallic deposits in Kazakhstan.

Representatives of Zijin Mining reported that they are currently looking for a suitable deposit. At the initial stage, the investment volume will amount to 100 million US dollars. As part of the projects under consideration, the company plans to build an enrichment plant for the production of non-ferrous and precious metal concentrates, which will be sent to metallurgical plants in Kazakhstan for subsequent smelting of metals. The implementation of the project will create at least 1,000 jobs and will contribute to the development of small and medium businesses. In addition, the company intends to conduct geological exploration work in new areas, which will help increase the mineral resource base of Kazakhstan.
A. Kuantyrov informed Chinese investors about the investment climate of the Republic of Kazakhstan and government support measures, in particular, about the mechanism of investment agreements and preferences in the metallurgical sector.

"We attach great importance to the mining industry. The concept of development of the geological industry of the Republic of Kazakhstan notes the special importance of exploration and production of minerals for the country's economy. We are ready to provide comprehensive assistance in the successful implementation of your project in the territory of the Republic of Kazakhstan," the Deputy Minister noted.

In turn, the company's representatives thanked the Kazakh side for the time devoted to the meeting and expressed their readiness to implement joint investment projects.

The Chinese company Zijin Mining is a transnational mining conglomerate that owns the largest volumes of gold and non-ferrous metal resources and produces the largest volume of metallic mineral products in the Chinese mining industry. The company is implementing more than 30 large mining projects in 12 countries and 14 regions of China. The company's capitalization in 2022 exceeded 47 billion US dollars.

According to the results of 2023, the company's copper resources amounted to 96 million tons. The production of cathode copper reached 720 thousand tons, and refined gold - 250 tons.

 

gov.kz

translated by Qazalem

Chinese company implements mining and metallurgy project in Kazakhstan