BAKU, Azerbaijan, October 27. Kazakhstan’s Minister of Industry and Construction Yersaiyn Nagaspayev met with Alexander Picard, Executive Vice President of Corporate Development and Investor Relations at Canadian mining company Ivanhoe Mines, to discuss prospects for cooperation in geological exploration, the Kazakh ministry reports.
The sides discussed exploration prospects, including in the Shu-Sarysu Basin, one of the world's largest and most promising copper belts. They also discussed Kazakhstan's plans to become one of the world's top 10 producers of high-quality refined copper.
"Kassym-Jomart Kemelevich Tokayev, the Head of State, identifies the development of the mining and metallurgical sector as one of the priority tasks. Kazakhstan is systematically working to expand processing capacity, attract investment and develop partnerships with leading global companies. We are open to mutually beneficial cooperation with Ivanhoe Mines and ready to support your projects and investments by creating transparent and predictable conditions for their successful implementation," Nagaspayev said.
Ivanhoe Mines is implementing projects in four regions of Kazakhstan: Zhambyl, Turkistan and Kyzylorda regions, as well as the Ulytau region. The total area of the sites is about 16,500 square kilometers, and approximately 18,000 meters of drilling have been completed to date.
If the deposits are confirmed to have commercial potential, the projects could proceed to resource assessment and feasibility studies before moving to industrial production. This would involve developing the necessary infrastructure and creating jobs in Kazakhstan.
Following the meeting, the sides confirmed their interest in long-term cooperation in geological exploration and mineral extraction.
