The Chinese company Zijin Mining Group Co. Ltd plans to invest in developing gold, copper, and polymetallic deposits in Kazakhstan. The project was discussed last week in Astana by Deputy Minister of Foreign Affairs of Kazakhstan Alibek Kuantyrov and Zijin Mining Chairman Chen Jinghe.
Zijin Mining is currently searching for a suitable deposit in Kazakhstan. At the initial stage, the Chinese company plans to invest $100 million in the construction of a processing plant to produce concentrates of non-ferrous and precious metals, which will be sent to metallurgical plants in Kazakhstan for subsequent smelting of metals. The project will create at least 1,000 jobs. The company also intends to conduct geological exploration of new deposits in Kazakhstan.
Deputy Minister Kuantyrov informed the Chinese investors about government support measures and preferences in the Kazakh metallurgical sector, and pledged comprehensive assistance for successful implementation of the project.
Zijin Mining is a transnational mining conglomerate that owns the largest volumes of gold and non-ferrous metal resources and produces the largest volume of metal products in China. The company is implementing more than 30 large-scale mining projects in 12 countries and 14 regions of China. The company’s market capitalization in 2022 exceeded US$47 billion.
