Timur Toktabaev, the Director of Subsoil Use Department of the Ministry for Investments and Development, says that investments are needed at all stages of the exploration and mining process.
The Junior Capital Market on the Toronto Stock Exchange is $ 58 billion (market capitalization). Large players choose projects for further investments among them. Kazakhstan doesn’t have many to choose from, although the potential is enormous. The speaker cited the example of the experience of the National Geological Exploration Company “Kazgeology” and Canadian airborne geophysical company Geotech Ltd .: their joint venture has discovered several deposits. “But no one believed in it, saying that there was nothing left,” says the expert.
With the adoption of the new Mining Act in 2017, it is going to be almost all the 8 types of licenses in Kazakhstan, which operate in Australia. “The processing time of the license will take only 3 days. If you pay for 2 square kilometers, which is approximately $ 115, you have to invest nearly $6500 minimum for the work program. This kind of exploration is expected in Kazakhstan. Any individual can do it. A geologist who was working in Soviet times, would take a license and attract attention, but now he does not have rights, he cannot get through”- as Timur Toktabaev describes the situation.
Learn more about our joint venture with KazGeotech here.
Read the article in Russian “Крупные месторождения начнутся с юниоров”.