According to the latest official statistics, the "mining and quarrying" sector (excluding the production of oil and gas) plays an important role in the Kazakh economy, with a contribution of 4.9% to the country’s GDP based upon the results of 2019.
Kazakhstan's state balance takes into account mineral reserves for 102 types of mineral raw materials, including 40 types of solid minerals.
If compared with world reserves, Kazakhstan ranks:
- first in terms of total reserves and quality of chrome ores (according to the US Geological Survey, 86% of the world's reserves of chrome ores are in Kazakhstan and South Africa);
- second in terms of reserves and resources of uranium and silver;
- third for confirmed reserves of lead and proven reserves of manganese ores;
- fourth for confirmed reserves of zinc;
- fifth in terms of proven reserves of iron ore (and in terms of their quality, Kazakhstan ranks third in the world);
- eighth in terms of (i) the quantity of confirmed reserves of tin, with the quality (Syrymbet deposit) being not inferior to the main world producers and (ii) gold reserves (mainly represented by small and medium-sized deposits by the standards of the industry);
- ninth in proven cobalt reserves and confirmed reserves of titanium dioxide; and
- thirteenth in terms of proven nickel reserves and bauxite reserves (the latter being in eighth place in terms of mine production).
From 2000–17, USD79 billion was invested into the mining sector.
First published in Chambers and Partners, ‘Mining 2021’ Global Practice Guide.