Kazakhstan has become a very popular country for international firms to invest in as the benefits the country offers, particularly cash back on profits, made investments in the region all the more enticing. The efforts to mine gold in the country have also become more interesting in recent time. This is especially as so many different outside firms have been using gold mining as a way to make it easier for them to diversify their investments and to even potentially get a greater amount of money for their efforts.
Open to Future Mining
Gold mining in Kazakhstan has become prominent in recent years as the country is encouraging outside firms to invest in this mineral rich country. The national law says that no parts of the country’s economy are closed to outsiders. This means that international firms have free reign to do what they feel with fewer regulations involved compared to many other countries.
A good variety of gold mining firms have set up shop in the country. These include the Zhangqiu Ruinan, Angola and Earth Metallurgical Solutions groups. These groups are taking advantage of cash back investment plans and reduced taxes on their profits. The fact that workers may be eligible to move into the country without having to deal with as many visa regulations and procedures as with other places is a huge positive to find.
How Much Gold?
The Prime Minister’s office of Kazakhstan states that about ten tons of refined gold is been mined in the country on an annual basis. This is a small fraction of the estimated 1,500 tons of gold that Kazakhstan is reported to have in its reserves. The total amount of gold within the country’s reserve has doubled within the past ten years although much of this is based off of the estimates made within the country.
The Big Mines
The Aksu, Zholymbek and Bestyube mines are among the best mines to look into when finding gold in Kazakhstan. These are all operated by the Kazakhaltyn Mining Concern. Each of these mines has about 600 tons of gold to mine according to the most recent estimates.
The Suzdal mine, which is owned by Celtic Resources Holdings, has been getting more than 30,000 ounces of gold on an annual basis in recent time. Celtic is expected to triple its efforts within the country to acquire more gold and to get it out as quickly as possible.
Like with many other countries where gold mining has been popular in, there are worries over how gold mining activities in Kazakhstan could negatively impact the environment. These include concerns over land degradation as more people are moving around the region as the larger mines require labor.
The open-pit nature of these mines has also created concerns over how the water supplies around the country could be impacted. Any form of mining can cause disruptions in the environment that can easily entail pollution and other serious threats that can get into the region, thus making it harder for air quality and other points around the region to be treated well enough. Whether or not the national government will add any new regulations as to how mining deposits are to be used is unclear at this time.
The Kazakhstan gold economy has grown quite a bit and today it is a place that has a strong potential for miners to explore. The chances that people have for finding gold in the region could certainly make for an interesting chance for the country to become more popular among those looking to find gold in the region for the future.
Such a large country with vast regions that are relatively unexplored still today, Kazakhstan hold great potential for gold mining for both small-scale artisanal miners and large mining companies as well. Spot price of the metal will have a large impact on the development of more mines in the near future.