Toronto, 7 March 2023 (TDI): Invest Kazakh announced that Kazakhstan had opened its first National Pavilion at the annual exhibition of the international mining industry in Canada. 

The Kazakhstani pavilion was presented to display the country’s rich mineral resources. Government authorities and corporate executives inaugurated Kazakhstan’s National Pavilion.

Kazakhstan’s Deputy Minister of Foreign Affairs, Almas Aidarov, emphasized the importance of the mining and metallurgical industry to Kazakhstan’s economy.

He declared the mining and metallurgical industry was the country’s “second economy” after oil and gas. He noted that the metallurgical sector accounts for about 20% of national exports.

He also invited the international market to explore over 60 deposits of precious and base metals. The country’s delegation included about 50 representatives from the public and private sectors.

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They highlighted the potential for economic cooperation between Kazakhstan and other countries. Darren Klinck, President of Arras Minerals, pointed out the relevance of the PDAC conference as a platform for international cooperation in the mining industry.

He noted that the event offers a unique opportunity for enterprises to display their products and services. It also allows networking with peers and learning about industry trends and technological advancements.

The Association of Geologists and Developers of Canada (PDAC) organized its annual conference and exhibition for the international mining industry.

The expo established a distinct arena for international mining collaboration with up to 25,000 visitors from over 130 countries.

Kazakhstan-Canadian Business Forum

The Kazakhstan-Canadian Business Forum, titled “New Horizons of Cooperation in Mining,” was held in Toronto. The summit examined new avenues of cooperation in the mining industry.

The Embassy of Kazakhstan in Canada, JSC “NC “KAZAKH INVEST,” and Canadian enterprise “Hatch” organized the event as part of the largest global miners and prospectors conference, “PDAC-2023.”

Toronto’s Canada-Kazakhstan Business Forum coincided with the Kazakhstan National Pavilion’s inauguration. The event included leading executives of leading Canadian companies and representatives of government bodies and business associations.

During the summit, the Deputy Minister of Foreign Affairs stated Kazakhstan values long-term collaboration with Canada based on friendship, shared values, and mutual support.

According to him, Kazakhstan is Canada’s most significant trade and investment partner in Central Asia.

He declared that the trade turnover between Kazakhstan and Canada in 2022 amounted to $838.6 million, which is 69.2% higher than in the same period last year.

Since 2011, the inflow of direct investments from Canada to the economy of Kazakhstan amounted to about $2.7 billion.

During the forum, participants discussed the potential of Kazakhstan’s mining industry and explored avenues for investment and collaboration.

Yerlan Akbarov, the Chairman of the Committee of Geology of the Ministry of Industry and Infrastructure Development of Kazakhstan, discussed mining and metallurgical investment opportunities.

Canadian representatives also commended Kazakhstan’s mining industry prospects. They underscored the country’s strategic importance as an investment partner.

The forum inked memorandums between LLP “Company Kazakhmys” and First Quantum to jointly implement geological exploration projects in Kazakhstan and with Bureau Veritas to establish an international geochemistry laboratory in Kazakhstan.

The summit permitted participants to analyze potential business opportunities. It also provided a platform for exchanging knowledge and experience and establishing partnerships and collaborations.

The event also highlighted the growing importance of Canada-Kazakhstan economic relations. The two countries have firmly committed to strengthening their partnership and expanding their cooperation in various fields.