The government of Kazakhstan, together with some private investors plans to begin active development of the local Zhetim-Too field, the country’s largest deposit of ferrous and non-ferrous metals next year, according to recent statements, made by an official spokesman of the Kazakh Presidential Administration.
It is planned, the development of the field will be conducted by local business. Representatives of the Kazakh government have also denied reports of some Kazakh and foreign media about the transfer of the field under the control of Chinese investors. According to them, the field will remain in state property.
According to Nurgazy Anarkulov, head of the press service of the Kazakh Presidential Administration, a separate state company will soon be established, that will focus on the development of the field.
The project will create more than 1,000 new jobs. The development period will be conducted within the next 55 years.
Since the collapse of the USSR, a significant part of mining fields, located in Kazakhstan, has been transferred under the control of the Chinese companies, however there is a possibility such a situation will change, as the newly elected Kazakh President Kassym-Jomart Tokayev plans to end with the monopoly of Chinese business in the domestic market.
By: Eugen Gerden