1.5 Billion Tenge Invested in Geological Exploration In Kazakhstan’s Karaganda Region

Ten geological exploration projects are currently being implemented In the Karaganda region, with around 1.5 billion tenge of investments in 2015, Nurmukhambet Abdibekov, Governor of Karaganda, has reported.

“Six state geological exploration projects with a total of more than 3.6 billion tenge are currently being implemented in the Karaganda region, with more than 560 million tenge of investments expected in 2015. In addition, four more geological exploration projects are being implemented with foreign partners at a cost of 5.5 billion tenge, of which more than 900 million tenge is intended for this year,” announced Mr Abdibekov at a meeting to discuss the expansion of Kazakhstan’s mineral raw material base.

Exploration is taking place in parts of Altynshokinsky, Kenkazgan, and Saryadar as part of the state programme, announced Galym Nurzhanov, Chair of the Board of Kazgeologiya, the national geological exploration company. In addition, exploration projects are expected to go ahead on deposits in the Itauz, Kireisko-Oparskoi and Tastinsky areas.

He also presented projects that are being implemented with foreign partners.

“Australian-British company Rio Tinto’s current project aims to locate at least one deposit of world class copper with minimal ore reserves of 1 billion tonnes with a copper content of at least 0.7%. Investments in the exploratory stage amount to 15 million USD, of which 1.45 million USD is intended for use in 2015,” noted Nurzhanov.

The company is also obliged to train Kazakh specialists.

There is also another project currently ongoing with Korean company KORES.

“It expects to find deposits of complex ores using advanced geological exploration technologies. The total amount of investments in the exploratory stage is 2 million USD, of which 1.1 million USD is to be used in 2015. The expected result is to find 4.4 million tonnes of zinc reserves, 2.9 million tonnes of lead, and 2,500 tonnes of silver,” reported Nurzhanov.

Geological research, electrical surveys and drilling work, geophysical research of wells, selection and sample treatments have all been planned for 2015.

At the meeting, it was announced that work on projects will start in July. New technology in airborne geophysical work will allow surveys to take place with depths of up to 2.5 km underground. Previous surveys have delved no more than 300-400m underground.

“We hope that this will be the start of large and productive journey. We will turn this into a reality. I think we will get considerable results,” concluded the Akim (mayor) of the area.

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