The Prime Minister of Kazakhstan

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Share of Kazakhstan in the global titanium market to reach 14% - Sagintayev

15 June 2016, 15:45

Within the development of Kazakhstan's brands in metallurgy, the share of Kazakhstani segment of titanium in the world will increase from 11% to 14%, First Deputy Prime Minister of Kazakhstan Bakytzhan Sagintayev has said today at VII International Mining and Metallurgical Congress.

"We expect to increase the share of Kazakhstan's segment of titanium in the world from the current 11% to 14%," Sagintayev said.

According to him, in the MMC in the light of reforms it is planned to attract world-renowned multinational companies.

"Already, companies such as Arcelor, Polymetal and others operate in Kazakhstan. We intend to intensify this work," Deputy Prime Minister said.

According to Sagintayev, it is planned to start the process of introducing an international reporting standards on mineral resources of CRIRSCO.

"In the mining industry, we are moving to a simplified way of granting rights on the model of Western Australia, where the principle of "first come - first served " is widely used,” he explained.

In the long term, there will be increase in demand for steel products both in traditional and in innovative sectors of the economy, involving, inter alia, the construction of renewable energy sources, the emergence of new forms of transport, the development of electronics and information technology.

According to Deputy Prime Minister, in the first five-year plan of industrialization in the mining industry 60 new productions were put into operation in the amount of $ 2.5 billion and over 16 thousand permanent jobs were created.