Recently published research from Business Monitor International, "Kazakhstan Mining Report Q3 2012", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 06/07/2012 -- We expect Kazakhstan's mining industry value to reach US$36bn by 2016, down from our previous forecast in light of our view of an overall decline in commodity prices. Growth will be led almost entirely by the coal, iron ore and copper sectors, which together account for the majority of the value of Kazakhstan's mining industry, though we also note extremely strong growth in gold production. Copper production is also a bright spot in the country given aggressive expansion plans by Kazakhmys and Rio Tinto's commitment to invest US$100mn in exploring northern Kazakhstan for copper.
The constitution of the Republic of Kazakhstan vests ownership of mineral resources in the state. The constitution states that land may be privately owned, but underground resources are state property. The controlling body for the mining industry is the Ministry of Energy and Mineral Resources. Given the strategic and economic importance of the mining sector, the government is supportive of the industry and institutes a generally positive investment climate, although it has also shown that it will intervene when necessary.
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