Chinese Mining Giant Zijin to Invest $100 Million in Kazakhstan’s Mineral Sector
China’s Zijin Mining Group, a major player in the global mining industry, plans to invest $100 million in developing gold, copper, and polymetallic deposits in Kazakhstan, as discussed in a recent meeting between Kazakh officials and Zijin’s Chairman, Chen Jinghe.
The investment project, the Ministry of Foreign Affairs of Kazakhstan reported, includes the construction of a processing plant for non-ferrous and precious metal concentrates. These concentrates will be further processed at local metallurgical plants, boosting Kazakhstan’s industrial capacity.
The initiative is expected to create at least 1,000 jobs and support the growth of small and medium-sized enterprises in the region.
Zijin Mining is currently in the process of identifying a suitable deposit for the project. Additionally, the company has expressed interest in conducting geological exploration in new areas, which could potentially expand Kazakhstan’s mineral resource base.
“We attach great importance to the mining industry. The concept of development of the geological industry of the Republic of Kazakhstan notes the special importance of exploration and production of minerals for the country’s economy. We are ready to provide comprehensive assistance in the successful implementation of your project in the territory of Kazakhstan,” Deputy Foreign Minister Alibek Kuantyrov said in a statement.
This investment by Zijin Mining can be seen as another strategic move in China’s ongoing efforts to secure access to critical minerals worldwide. The project aligns with China’s broader initiative to diversify its mineral supply chains and strengthen its position in the global resources sector.
Kazakhstan boasts a wealth of mineral deposits and is a key player in global mineral production. The nation leads the world in uranium extraction, contributing a third of global output in 2021, according to the US Geological Survey.
Additionally, Kazakhstan ranks prominently in several other mineral categories: it’s the third-largest producer of titanium, the seventh for zinc, the eighth for lead, and holds the eleventh position in gold production worldwide.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
