Kazakhstan Requires a Critical Metals Reserve Management Plan by Year-End

en.Wedoany.com Reported - On October 28, in his annual state-of-the-nation address, Kazakh President Tokayev instructed the government to reform the national geological exploration system, study the establishment of a critical metals reserve management mechanism, and submit a specific plan by the end of 2026. The new mechanism is intended to introduce long-term financing for mining projects and offtake contracts for products, support the exploration of new deposits and the development of critical metals, and at the same time promote the opening of subsurface geological data and the participation of private capital in mineral resource exploration.

The geological exploration reform will focus on adjusting existing exploration technologies and data management methods. Tokayev required the use of advanced technologies to conduct a nationwide survey of subsurface resources, improve the openness and accessibility of geological data, and expand private capital participation in exploration activities for new deposits. The relevant requirements cover three aspects: the application of exploration technologies, the opening of geological data, and investment mechanisms for mineral exploration.

The critical metals reserve management mechanism is intended to combine financing for mining projects with arrangements for the sale of mineral products. The government needs to study specific ways to provide long-term funding support to mining enterprises and, through long-term offtake agreements with relevant production enterprises, establish stable procurement demand for mineral products. Tokayev required the competent authorities to study the above mechanism together with enterprises and to formulate policy recommendations by the end of the year.

Tokayev also required studying the establishment of a national reserve of non-ferrous and rare metals and strengthening coordination among mining development, metal processing, and export policies. In regional industrial investment arrangements, the government needs to assess the market demand for new projects and the existing industrial base. Citing the Qarmet steel enterprise and similar plants planned for construction in three other regions as examples, Tokayev required stronger overall coordination of proposed industrial projects to avoid duplicate layout.