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.
