Global Mining Congress Held in Kazakhstan, Unveiling Strategic Expansion Strategies
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Blazing trails in the mining and metallurgical sector, Kazakhstan recently kickstarted the 15th International Mining and Metallurgical Congress, attracting a whopping 1,300 delegates from 20 countries, as reported by Kazinform.
Picture the scene: A packed event featuring luminaries from across the globe, all convening in Astana, buzzing with discussion and debate on issues like trade tensions and climate change - hot topics for the global and regional mining and metallurgical complex (MMC).
This biennial convention, first held in 2010, has become the be-all and end-all for the industry across the Eurasian region. With a strong focus on innovation and collaboration, the gathering showcases Kazakhstan's burgeoning leadership in the field.
This year's lineup boasts an impressive exhibition, featuring 50 companies from 12 countries, with a notable 35 Kazakh firms participating. The noteworthy presence of these local players speaks volumes about Kazakhstan's growing industrial and scientific prowess.
Boosting the National Economy
According to 2024 statistics, Kazakhstan's MMC sector punched a colossal 8% in the country's GDP, generating an impressive output of over 14.3 trillion tenge, roughly equivalent to $28 billion. In addition, investments in the field surged by 12%, reaching $3.6 billion, and exports clocked in at a staggering $21.4 billion.
Iran Sharkhan, the Kazakh Vice Minister of Industry and Construction, refers to the MMC as a pillar of Kazakhstan's economic growth due to its role in job creation, regional development, and economic diversification.
A Bright Future Ahead
The Kazakh government is bullish on ambitious investment initiatives designed to fuel further economic expansion. Expect to see five major projects, each exceeding 3.5 trillion tenge (around $6.8 billion), hitting the ground running soon, and creating nearly 8,000 new jobs.
Sharkhan hinted at the completion of exploration at the world-class Kuirektykol deposit in the Karagandy Region. This depository is chock-full of 800,000 tons of rare earth metals (REM), including valuable elements like cerium and lanthanides.
Adding to the excitement, Kazakhstan's first tungsten production facility is set to launch in 2025. The nation is also working on developing technologies for heat-resistant nickel alloys, gallium, and intermetallics. The ultimate goal? Localize chemical and technological processing and manufacture components of strategic importance.
Exploring New Frontiers
Through its extensive geological exploration efforts, Kazakhstan has raked in over 420 billion tenge (or around $823 million), managing an expansive 1.9 million square kilometers of area. That figure is set to grow to 2.2 million square kilometers by 2026.
Among other collaborations, the country is teaming up with Finland's Geological Survey to develop its digital geological data systems. Finland's expertise, a frontrunner in this field, will be essential in structuring and standardizing Kazakhstan's national databases. Notably, this partnership is being developed with external funding, not taxpayer money.
Kazakhstan and China are currently collaborating on a project along their shared border, aiming to assess the geological potential. Managed by Kazakhstan's Committee of Geology, this long-term endeavor is a testament to the countries' burgeoning partnership.
International Partnerships Galore
In a special session hosted by the British Embassy's Department of Business and Trade, industry leaders convened to discuss ways to deepen ties between Kazakhstan and other mining powerhouses. Finland and China are among the countries Kazakhstan is keen to collaborate with, with a view to boosting their expertise and technological capabilities within the sector.
To sum it all up, Kazakhstan's focus on the mining and metallurgical sector is an integral part of its ambitious growth plans. The country aims to position itself as a significant player in the global mining industry, fostering economic development, job creation, and strengthening international partnerships in the process.
- After the successful conclusion of the 15th International Minning and Metallurgical Congress, manydelegates expressed their interest in exploring potential collaborations in the sports industry, citing Kazakhstan's growing industrial and scientific prowess as a promising foundation for innovation.
- In a bid to further diversify Kazakhstan's economy, Vice Minister of Industry and Construction, Iran Sharkhan, has emphasized the significance of investing in sports infrastructure projects, believing they could generate substantial economic growth and provide new opportunities for job creation and sports tourism.
