MINEX Central Asia - a spotlight on the Kyrgyz Republic
Arthur Poliakov
Managing Director, Advantix Ltd. For over three decades, I have been organising events across Europe and Asia supporting more than 500K professionals in achieving their goals and ambitions.
www.minexasia.com
The MINEX Central Asia Forum is set to relaunch on June 19-20 in Bishkek, Kyrgyz Republic, in collaboration with the Ministry of Natural Resources, Ecology and Technical Supervision of the Kyrgyz Republic. The event comes at a time when the region's mineral wealth is gaining increasing importance, driven by the global green transition and the need for alternative supply chains of critical raw materials.
Changing dynamics in Central Asia’s Mineral Wealth Development
Kazakhstan, Uzbekistan, and Kyrgyzstan, three countries rich in minerals, are actively reforming their mineral policies and engaging with international partners to secure long-term commitments in mineral exploration and modernization of the extractive and processing industries. Each country has its unique agenda and focus.
The region has seen a significant shift towards diversification in trade and investment since 2022, with a growing focus on non-traditional markets in Europe, North America, South Asia, and the Middle East. However, China remains the primary destination for most of Central Asia's critical minerals and precious metals, with Chinese companies holding over half of the mineral extraction licenses in Tajikistan and Kyrgyzstan. The Central Asian countries would benefit from diversifying their supply chains and reducing their dependence on China as an export destination.
What the Forum offers
The Forum will provide an in-depth look at the evolving geopolitical, economic, and legislative landscape, and how these changes will impact the mining sector in four Central Asian states from 2024 onwards.
Central Asian countries will utilise the Forum to showcase their strategies, legislative updates, and projects to attract international investors and technology companies. Details of planned country-specific presentations and discussions will be shared before the Forum.
Trade and Investment opportunities ?
Several international companies will be signing MoUs, equipment supply and investment agreements at the end of the Forum.
During the Forum the Geological Service of Kyrgyz Republic is planning to present several investment projects including.
Investment Proposal for Rare Earth Metal Development from Ak-Tyuz Tailings Dumps.
Rare Earth Metals Development Opportunity at the Kutessai-II Deposit: A Strategic Investment Proposal.?
The Forum boasts a comprehensive program featuring presentations from key government agencies responsible for a wide range of critical areas, including Economic Development, Subsoil use and Environmental Management, Rehabilitation of uranium legacy sites, Carbon sequestration through climate investments, Development of Renewable Energy projects, Water Management, and more.
Key Kyrgyz Republic officials presenting at the Forum:
Akylbek Zhaparov, Chairman of the Cabinet of Ministers, The Government of Kyrgyz Republic
Daniyar Amangeldiev, Minister of economy and commerce of the Kyrgyz Republic
Melis Turgunbaev, Minister of Natural Resources, Ecology and Technical Supervision of Kyrgyz Republic
Taalaibek Ibraev, Minister of Energy of the Kyrgyz Republic
Meder Mashiev, Deputy Minister-Director, Kyrgyz Geological Service of the Ministry of Natural Resources of the Kyrgyz Republic
Asel Raimkulova, Deputy of Minister of natural resources, ecology and technical supervision of the Kyrgyz Republic
Samat Nasirdinov, Deputy Minister, Ministry of Water Resources, Agriculture and Processing Industry of the Kyrgyz Republic
Asel Seitkazieva, Deputy Director, Department of Tailings Management under the Ministry of Emergency Situations of the Kyrgyz Republic
Zhalyn Zheenaliev, Deputy Director of the National Investment Agency under the President of the Kyrgyz Republic
Kubat Abdraimov, Chairman of the Board, Kyrgyzaltyn
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Almaz Baryktabasov, President (Chairman of the Board), Kumtor Gold Company
Ilyas Tulekeyev, General Director, KAZ Minerals Bozymchak
Alp Togay, General Manager, Eti Bakir Tereksay
Yafeng Wen, Chairman of the Board, Altynken
Martin Andersson, Executive Chairman, Chaarat
Mine site visits
Delegates will be offered a unique opportunity to visit major mining operations and hold meetings with the management.
Visit to Kumtor Gold Mine (21-22 June)
The Kumtor mine, located in the Kyrgyz Republic, is one of the largest gold mines in Central Asia. It has been producing gold since 1997 and has yielded over 13.8 million ounces of gold as of June 30, 2022. The mine operates at an impressive altitude of 13,000 feet, making it the second-highest mine globally, surpassed only by Newmont Gold mine Yanacocha in Peru.? Kumtor Gold Company will be able to invite a small group of delegates to visit Kumtor Gold Mine. The visit will take approximately 2 days (21-22 June).?
Visit to Altynken and ErAdia (21 June)
The Taldybulak Levoberezhny Gold Mine operated by Altynken, is the third-largest gold mine in Kyrgyzstan, located in the Westen Tianshan Mountain gold-copper mineralization zone, known as the Golden Belt of Central Asia. It has a throughput of 2,500 tonnes per day. Zijin Mining holds a 60% interest in the project, and Kyrgyzaltyn JSC holds the remaining 40%.
ErAdia specialises in the production and sales of non-electric initiation systems and electronic detonators.
Moody's improved outlook on Kyrgyzstan's credit ratings
On 21 May 2024, Moody’s Ratings changed the outlook to stable from negative on Kyrgyz Republic’s government credit ratings and affirmed the local and foreign currency long-term issuer ratings at B3.? The change to a stable outlook reflects Moody’s assessment that the balance of risks has returned to stable. ?Moody’s expects Kyrgyz Republic’s economy to show continued resilience despite the shocks emanating from the invasion of Ukraine and Kyrgyz Republic’s ongoing tight links to the Russian economy. Concerns around the performance of the gold sector and foreign direct investment following the nationalisation of the Kumtor gold mine have eased and potential growth is expected to remain at around 4 per cent in the medium-term,? ?the statement says.
Kyrgyz parliament voted in favour of removing the Kyrgyz Republic - a spotlight on the host countrymoratorium on uranium and thorium mining
On 27 May the Committee on Budget, Economic and Fiscal Policy of the Jogorku Kenesh (Parliament) of the Kyrgyz Republic agreed to remove the moratorium on prospecting, geological exploration and development of uranium and thorium mineral deposits. Information about the bill was presented by the Minister of Natural Resources, Ecology and Technical Supervision Melis Turgunbayev. The Minister noted that the adoption of the draft law will be accompanied by the introduction and enforcement of environmental protection standards by subsoil users, including minimising emissions of harmful substances, ensuring the safety of workplaces and compliance with standards for permissible impact on water and soil resources.
The Kyrgyz Government is raising funds to move unstable nuclear waste dams
Reuters reports that the dams holding some 700,000 cubic meters (185 million gallons) of uranium mine tailings in Kyrgyzstan have become unreliable following a 2017 landslide. A further landslide or earthquake could send their contents into a river system used to irrigate Kyrgyz, Uzbek and Tajik farmlands, the studies at the Soviet-era radioactive waste disposal facility showed. That event would possibly displace millions in those three countries. The Bishkek government and G.E.O.S. estimate that 22-25 million euros would be needed to move the waste from the two unsafe locations to one further away from the river.