Central Asia’s largest tin deposit to give impetus to Kazakhstan’s non-ferrous metal industry
Tin stripping operations will begin in May at Syrymbet, Central Asia’s largest and Kazakhstan’s only tinny deposit with an annual capacity of two million tonnes of ore, said North Kazakhstan Region Akim (Governor) Kumar Aksalakov at a late February meeting.
The facility is expected to help develop a domestic technologically advanced non-ferrous metal industry. Tin deposit reserves are currently estimated at 99.2 million tonnes, of which metal tin reserves are 484,940 tonnes, reports Skinvest.kz. Extraction of tungsten, copper, and fluorite is also planned.
Development of the tin deposit began in 2013 and will be completed in 2021 at a cost of 100 billion tenge (US$264.7 million). This year, four billion tenge (US$10.59 million) has been invested.
In 2018, investment in the region increased by 8.1 percent, reaching 212 billion tenge (US$561.16 million). There, Chinese company Tielin Logistics Invest Co. is implementing projects on feed and woodworking, and construction began on the wheat processing plant KAZMEAL. An inactive plant will also be transformed into a modern data center.
“We allocate funds for the restoration of idle industrial facilities, which are then offered to investors on terms that are favorable,” the akim said. “Today, seven large investment projects are under development, which will attract more than 80 billion tenge (US$211.76 million) to the regional economy and create more than 1,500 new jobs.”
Kazakh President Nursultan Nazarbayev tasked the new government, appointed Feb. 25, to “take effective steps in improving living standards, stimulating the economy and implementing strategic objectives.”
Funds from the state budget and the National Fund will be allocated to improve regional development policy, social welfare for citizens of low socioeconomic status and housing options for socially vulnerable groups. As a result, akimats (administrations) are expected to play a greater role in advancing these socially-oriented measures.
“Akims, the government, the party and the Atameken National Chamber of Entrepreneurs should help people with social assistance,” said Nazarbayev Feb. 27 at the 18th Nur Otan Party Congress.
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