A group of major Canadian companies visited Astana to discuss with Kazakh officials the potential launch of a U.S.-Canada regional hub as part of the 13th Astana Mining and Metallurgy Congress on June 1-2, reported the Kazakh Embassy in Canada.
A special session was held to assess the opportunities, legal framework and cooperation platforms for the U.S.-Canadian companies doing or considering doing business in the mining sector of Kazakhstan, including Hatch, Cameco Corporation, Barrick Gold, Arras Minerals, Nutrien, Teck Resources, B2Gold.
It is reported that the U.S.-Canada hub will offer guidance and support for the businesses in Kazakhstan and other Central Asian countries as a first step in the mining sector and serve as a vital platform for direct dialogue between North American businesses and the host government and state-owned enterprises.
“These collective efforts position Kazakhstan as an attractive investment destination, promote international collaboration and foster a thriving mining sector that upholds the highest global standards,” reads the release.
The Canadian representatives positively assessed the progress of Kazakhstan’s subsoil use reforms and the government’s efforts to develop the geological industry.
“The resource potential of Kazakhstan has not been fully exploited and Canadian companies, with their substantial experience and advanced technology, can assist in this process,” said Canadian businesspeople.
Kazakhstan has been improving its mining sector since 2018 through the enactment of the Code “On Subsoil and Subsoil Use”. New legislation has made the Kazakh mining industry more appealing by aligning the national regulatory framework and industrial policy approach with leading mining jurisdiction benchmarks, ensuring competition, transparency, clear and straightforward expenditure commitments, and implementation of the international standards for reporting mineral exploration results, mineral resources and reserves, in line with the Committee for Mineral Reserves International Reporting Standards (CRIRSCO).
Source: The Astana Times
