Investment and Development Ministry attracts new investment in geological exploration
The meeting was held on the sidelines of the official visit of Japan Prime Minister Shinzo Abe to our country. The parties discussed Kazakh-Japanese joint project on preliminary geological exploration in Kazakhstan. JOGMEG and Kazgeology are going to start the project in 2016 spring on Kyzemshek (Karaganda region) and Zhanaarkalyk (Kostanay region) deposits of rare-earth metals, mainly, yttrium. Alongside, the parties agreed on possible implementation of joint projects on processing of rare-earth metals in Kazakhstan. Following today's meeting in the Ministry of Investment and Development, JSC Kazgeology and JOGMEG agreed to sign a memorandum of mutual understanding and cooperation in minerals tomorrow at the Kazakh-Japanese Business Forum. JOGMEG Corporation was established in 2004 to ensure stable and constant supply of oil, gas and mineral resources for the support of Japanese industry and contribute to the development of industry and life standards rising in Japan. JSC Kazgeology was established by the Resolution of the Government of the Republic of Kazakhstan as of June 21, 2011 in fulfillment of the Presidential Decree on ensuring effective development in the territory of Kazakhstan and creating favorable living environment and new mineral raw material base for the fund of future generations, as well as ensuring realization of economic and geopolitical interests of the country in Kazakhstan sector of the Caspian Sea shelf.
