ASTANA, Kazakhstan, August 16. Chinese Zijin Mining Group Co. Ltd intends to invest $100 million in the development of deposits of gold, copper, and base metals in Kazakhstan, Trend reports.
This was stated during the meeting between Deputy Minister of Foreign Affairs of Kazakhstan Alibek Kuantyrov, Chairman of the Board of Kazakh Invest Yerzhan Yelekeyev, and Chairman of the Chinese company Chen Jinghe.
Thus, company representatives noted that they are searching for a suitable deposit. At the initial stage, the investment volume will be $100 million.
As part of the projects under consideration, the company plans to build a concentration plant to produce concentrates of non-ferrous and precious metals, which will be sent to metallurgical plants in Kazakhstan for subsequent metals smelting.
In addition, the company intends to conduct geological exploration work in new areas, which will help increase the mineral resource base of Kazakhstan.
Kuantyrov told Chinese investors about the investment climate in Kazakhstan and government support measures, in particular, about the mechanism of investment agreements and preferences in the metallurgical sector.
"We attach high importance to the mining industry. The concept for the development of the geological industry of Kazakhstan notes the special importance of exploration and mining for the country's economy. We are ready to provide comprehensive assistance in the successful implementation of your project in Kazakhstan," he said.
In turn, company representatives expressed their readiness to implement joint investment projects.
Meanwhile, China took the crown as Kazakhstan's top trading partner in 2023. The trade turnover between Kazakhstan and China was $31.4 billion in 2023. The volume of trade turnover increased by 30 percent from the same period in 2022 ($24.2 billion).
At the same time, in terms of trade turnover, exports to China during the aforementioned period totaled $14.7 billion, 14.7 percent greater than from January through December 2022 ($13 billion).
In addition, imports from China surged by 50.5 percent from January through December 2023, totaling $16.7 billion. In 2022, imports totaled $11.1 billion.