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"Kazakhmys": in 2014, exploration will cost at least 25 billion tenge..

12 February 2014

According to Bakhtiar Krykpysheva, General Director of LLP «Corporation» Kazakhmys «, to enable the planned implementation of the Comprehensive Plan, providing for social and economic development of Satpayev and Zhezkazgan and Ulytau district in the period from 2012 to 2020, exploration of new areas in the region allocated more than 25 bln… In December 2013 the document was revised by the Government of the country, resulting in a funding amount increased to 351.5 billion. Tenge. Bakhtiar Krykpyshev sure that the implementation of the Comprehensive Plan will provide opportunities to reduce dependence on the city-forming enterprise, to create new jobs (in particular, the company will be able to save about 30 thousand. Jobs), to the emergence of new projects and will be able to diversify the economy.

Update of the Comprehensive Plan provides for 50 additional events, 28 of which are aimed at improving the social and communal infrastructure, 14 involve industrial and innovative development, another 8 are designed to increase the mineral resource reserve. According to the General Director of the corporation, additional funds will be used for exploration work on Zhezkazgan deposit, as well as search operations in new areas. It is at this stage is allocated 25.1 billion. Tenge, and in this approach the mine can last up to 40 years.

Bakhtiar Krykpyshev also said that some of the work will be done by the state, because they are too ambitious for a single enterprise, and maintain such a long and resource-intensive process alone is very difficult. In the case of the discovery of promising deposits, as well as confirmation of stocks will be the distribution contracts. Existing procedures for the allocation do not guarantee that it is «Kazakhmys» will be the developer of the newly discovered fields, despite more than a wealth of experience, it is quite possible that the work will be carried out by other companies.

Bakhtiar Krykpyshev also denied rumors that has developed a comprehensive plan is none other than the financial assistance of private companies by providing funds from the national budget. Approved documents are clearly defined as areas of responsibility, and the required investments from both the «Kazakhmys», and from the state. It is planned to consider the possibility of including Zhezkazgan ore in the category of low-profit in order to reduce the tax burden on the company.

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