Astana International Exchange (“AIX”, “Exchange”) and Aurora Minerals Group partnered at the PDAC (Prospectors & Developers Association of Canada) Convention to host ‘Kazakhstan Day’ to highlight prospects of Kazakhstan minerals market, new opportunities for investors and businesses, and improvements in the local legislation.
The speakers at the ‘Kazakhstan Day’ represented the Government, local and transnational companies and consulting agencies and discussed the development of the Kazakh mining industry, shared success stories of introducing innovative technologies in geological exploration and outlined the challenges to be addressed when entering the Kazakhstan mining market.
Tim Bennett, CEO of AIX, commented:
“We are focused on developing the junior mining market in Kazakhstan, with a dedicated market segment and building up an ecosystem of brokers and advisors to connect with different types of projects and investors. We are about to launch an investment web portal for foreign investors with an interest in Kazakhstan and for project owners to put their best foot forward in terms of attracting foreign capital.”
Garry Wright, General Director, Rio Tinto Exploration Kazakhstan, said:
“With modernization of numerous codes – mining, tax, ecology – the country starts to rip the benefits of its hard work by seeing a slow but noticeable increase in new international explorers in Kazakhstan. It has an additional benefit of attracting new service providers partnering with local companies to bring in new exploration technologies.”
Mirek Benes, Executive Director, Kazzinc Exploration Kazakhstan said:
“Recently introduced reforms to the subsoil law significantly improved the investment climate for developing natural resources in Kazakhstan. To evolve from the initial “gold rush” and bridge over a 30 years gap in exploration, all stakeholders will need better understand reality and appreciate the value created through a long-term commitment and the best industry practice.”
Kaisar Kozhamuratov, Partner, Aurora Minerals Group said:
“In January 2021, Aurora Minerals Group was able to establish a new local entity at AIFC for a foreign investor and obtain for him 10 mining licenses within only 14 business days.”
