Prime Minister of Kazakhstan Olzhas Bektenov gave instructions on development of geological exploration in the country at a government session on December 3.
In his speech, Bektenov recalled the President’s task to increase the area covered with geological exploration from 1.5 to 2.2 million square km before 2026.
“Now, the area covered with geological exploration has been brought to 2 million square km. As part of international cooperation with geological services of other countries, joint search for promising mineral reserves in East Kazakhstan region is underway. The information obtained is uploaded to the unified subsoil use platform, which enables to automatically issue licenses and conduct further monitoring of the implementation of subsoil user obligations,” said the Kazakh Premier.
According to him, the mechanism of an enhanced model contract has been introduced in the field of hydrocarbons, which aims at increasing the competitiveness and attracting investments in geological exploration of challenging reserves.
“Searches are being completed for rare earth metals at 12 sites with government funding. Lithium is of particular importance, the search for which is underway near the Bayankolskaya area, Aral and Caspian regions. Besides, this year the area for exploration of solid minerals covering nearly 1 million square km has been opened, which helped attract major international companies such as Riotinto, Fortescue, Arras Minerals and others,” said Bektenov.
The Prime Minister went on to add that despite Kazakhstan’s leading position in reserves of some metals there had been a decline in their production.
“Low activity is observed in exploration works aimed at expanding solid minerals and hydrocarbons reserves. It’s necessary to change the existing approaches to work. Development and clear implementation of the state policy on rational and efficient use of the existing mineral resource base and exploration of new reserves are needed,” said the Prime Minister.
According to Bektenov, it’s necessary to develop concrete measures and preferences to attract investments. The National Geological Service, established upon the instruction of the Head of State, needs to be given the proper support and powers as well as scientific and technological infrastructure.
Noting the geological exploration was associated with high geological and financial risks, the Prime Minister highlighted that the government attached great importance to support this field, create favorable conditions to attract investments, develop new incentive mechanisms and further improve the legislation. (Kazinform)
