Kazakhstan has become the first country in Central Asia to join the World Bank Group's global initiative, the Metals and Minerals Compact.

The official ceremony for Kazakhstan's accession to the global initiative took place on October 16 on the sidelines of the Annual Meetings of the World Bank Group and the International Monetary Fund in Thailand. From the Kazakhstani side, the Chairman of the Board of JSC "National Geological Survey" of the Ministry of Industry and Construction of the Republic of Kazakhstan, Yerlan Galiyev, attended the event.

Within the framework of the tasks set by the Head of State in the Address to the People regarding the development of the mining and metallurgical complex and the attraction of investments into economic sectors, the Ministry of Industry and Construction of the Republic of Kazakhstan and the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan, together with the World Bank, developed the Country Strategy (Compact) for Metals and Minerals. The document defines the main areas of partnership for 2026–2030 and combines the financial, analytical, and technical support instruments of the World Bank Group.

The Compact is based on Kazakhstan's strategic documents, including the National Development Plan until 2029, the Concept for the Development of the Geological Sector for 2023–2027, and the Comprehensive Plan for the Development of the Rare and Rare Earth Metals Sector for 2024–2028. One of the key benchmarks is helping attract around $20 billion in investment by 2031. The funds are expected to be directed toward expanding the mineral resource base, developing mining and processing facilities, introducing modern technologies, and building the necessary infrastructure.

The Compact provides for three main areas of cooperation:

First — improvement of state policy and regulatory mechanisms in the mining and metallurgical complex. This will create the necessary conditions to ensure a transparent and predictable environment, improve the investment climate, and implement international environmental and social standards.

Second — development of geological exploration, infrastructure, and human capacity. Among the priorities are the digitization of geological data, the development of energy and transport infrastructure, the introduction of modern metal processing technologies, and the training of qualified personnel.

Third — attraction of private investment in the mining and deep processing of mineral raw materials. Support for investment projects using the financial and guarantee instruments of the World Bank Group, the development of high-value-added production, and the attraction of international investors are provided for.

“Kazakhstan is committed to the principles of responsible and sustainable development of the mineral resource sector. Cooperation with the World Bank Group contributes to the implementation of national priorities in the field of raw material processing and the expansion of high-value-added production. We look forward to further strengthening the partnership, which will contribute to increasing the competitiveness and sustainability of the industry, diversifying the economy, and making more effective use of our country's natural resource potential,” noted the Minister of Industry and Construction of the Republic of Kazakhstan, Yersaiyn Nagaspayev.

The implementation of the Compact will contribute to the development of deep raw material processing, the creation of new jobs, and the further strengthening of Kazakhstan's positions in global production chains.

#Industry #Land resources

• 
• 
• 
•