Kazakhstan, South Korea eye to cooperate in geological exploration

19 January 2018 13:25 (UTC+04:00)

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By Kamila Aliyeva

Kazakhstan and South Korea intend to further develop cooperation in geological sphere.

Chairman of the Board of the Kazgeology JSC Galym Nurzhanov and South Korean Ambassador to Kazakhstan Kim Dae-sik discussed cooperation in the field of geological exploration, the press service of the Kazakh Ministry of Investment and Development reported on January 19.

At present, Kazgeology attracts world companies in the field of geological exploration, according to the head of the JSC.

“A number of multinational and large foreign mining companies are already operating. One of the world's investors - the South Korean national corporation Korea Resources – has been implementing a project for the exploration of polymetallic ores at the Dyusembay site in the Karaganda region since 2015. Last year, within the framework of the Kazakh-Korean business forum, a memorandum of cooperation was signed for geological exploration with the Korean Institute of Geological Sciences and Mineral Resources (KIGAM), he said.

In his turn, the ambassador noted that Kazakhstan has large reserves of various rare-earth metals, including lithium.

“The proposal to investors to consider this sector for investment together with the government of Kazakhstan did not leave our new government indifferent. Also we are interested in such elements as nickel and cobalt, without which it is impossible to manufacture batteries for today,” Kim Dae-sik said.

He expressed his readiness to assist Kazgeology JSC in cooperation with large companies such as Korea zinc, LG Chem, Daewoo and POSCO for the implementation of investment geological exploration projects.

Kazgeology is engaged in the exploration of solid minerals, uranium, hydrocarbon crude, and underground water. The company was founded in 2011 and is based in Astana, Kazakhstan.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva