Kazakhstan's Gold Resources Increase by 417 Tonnes After Geological Exploration

Kazakhstan is expanding its mineral resource base following geological exploration that has identified additional oil and gold resources. In the Kyzylorda Region, an additional 308,000 tonnes of oil were recorded, while the country's gold resources increased by 417 tonnes, 24KZ reports.

Kazakhstan recorded an increase of 417 tonnes in its gold resources last year following geological exploration. The figure includes both newly registered deposits and previously known deposits whose resources have been reassessed.

Margulan Baibatyrov, Deputy Chairman of Kazakhstan's Geology Committee:

– Two major deposits, Ulken-Karashoky and Mailykara, have been reassessed. Another 10 sites have also been added to the state register. Most are relatively small, although Takyr-Kaldzhir is worth highlighting.

The figures point to mineral resources that have yet to be fully developed. Experts caution that the amount of gold ultimately recovered could be up to 50% lower than the estimated resources, depending on the gold content of the ore, the depth of the deposits and whether extraction is economically viable.

Telman Shuriyev, Independent Mining and Metallurgy Expert:

– Only gold bullion purchased by the National Bank through three refineries can be counted as part of the country's official reserves. Under the law, it is this refined gold that qualifies for inclusion in foreign exchange reserves. Kazakhstan is also among the world's top 10 gold buyers.

Turning mineral resources into commercially viable reserves requires further exploration, investment and technology. According to the Geology Committee, the Ulken-Karashoky and Mailykara deposits are already in operation, while other sites are undergoing the procedures needed before extraction can begin.

Meanwhile, the government is expanding its geological exploration programme.

Margulan Baibatyrov, Deputy Chairman of Kazakhstan's Geology Committee:

– We are not relying solely on private investment. The government is also conducting geological exploration and surveys. We are currently carrying out what we call GS-50, a programme of detailed geological mapping. I believe this work will lead to significant increases in identified mineral resources in the future.

Kazakhstan's state register currently lists around 10,000 mineral deposits of various types, and ongoing exploration continues to expand that number. The next challenge is to turn the country's identified mineral potential into viable mining and processing projects.

Authors: Alisher Ashimov, Artur Gorshnyakov, Dias Kovlanbayev, Galymzhan Abdylakhat