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British Investments in Kazakhstan

The UK role in the development of Kazakhstan’s mining sector

MINEX 2015[In Kazakh]

Distinguished guests, ladies and gentlemen

I am delighted to be here at this year’s Mining and Exploration Forum. Thank you to the organisers for the opportunity to give a British perspective on Kazakhstan’s mining sector. This is a sector of great importance to Kazakhstan’s economic development. But it is also a sector which has great potential yet to be realised.

[In English]

Ladies and Gentlemen

The challenges faced by Governments, communities and miners when accessing natural resources are many. But we all agree that the benefits, both commercially and socially, are worth it. Future development will depend on various factors, including mineral commodity prices and Government policies to encourage the growth of the industry.

Kazakhstan is known to have significant untapped resource wealth. Mining, through its contribution to regional development, can make a key contribution to economic and social development. The potential for Kazakhstan and for Central Asia countries to fund their development through well-managed investment in the extractives sector is enormous.

Over 90% of Kazakhstan’s mineral resources are under-explored. Many local companies use outdated technologies developed over 30 years ago. So - there exists a great opportunity for collaboration.

Dr Carolyn Browne speaking at the ForumAnd the United Kingdom is well placed to assist in this development. During Prime Minister David Cameron’s historic visit to Kazakhstan in 2013, it was agreed to establish an inter-governmental commission in order to help promote much stronger business-to-business links in a number of sectors, including mining, science and innovation.

A Mining business-to-business Sub-Group of the IGC has now been established. Its aim is to help Kazakhstan transform its mining sector into a world class industry that can fuel economic growth.

The UK Mining Sub Group currently includes over 70 firms from both the UK and Kazakhstan, ranging right across the supply chain. It has already taken a number of important steps in order to bring UK expertise, technologies and finance to Kazakhstan’s mining projects. I was delighted that MINEX Central Asia joined the Mining Group recent meeting last month in London at the time of Prime Minister Massimov’s official visit to the UK.

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