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20002011.
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Mining&Metallurgy2012

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Axens 77
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58
Barclays 45
BG Group
23
BHP Billiton
6162, 64
Bechtel Hydrocarbon Technology
Solutions 77
Chris Morgan Associates Ltd.
30
Conocophillips North Caspian Ltd.
80
Dala Mining
45
Fonet Er-Tai AK Mining
55
Human Capital Lead
69
ENRC
21, 23, 29, 31, 36, 46
ExxonMobil Kazakhstan Inc.
80
Inpex North Caspian Sea Ltd.
80
Iteca
6667, 69
ITE Group Plc
67
Jinsheng SAT (Tianjin)
Commercial & Trading Co.
42
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kaspi bank
85
KMG Kashagan B.V
80
KSP Steel
31
Metso 5253
Minmetals Resources
64
Multiplex Resources
56
NCOC 80
Nippon Steel
64
Norsk Hydro
64
Nova- 56
Oriel Resources Limited
29
ORPEK Mineral Resources
56
Repsol 78
Rio Tinto
62
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26, 3738, 4042
Shell Kazakhstan Development B.V. 80
Sinopec 78
Societe Generale
45
Standard & Poors
46
Sumitomo Metal Industries
64
Technip Italy S.p.A.
77
UOP Limited
77
Vale 64
Vertex Holding
58
Yanzhou Coal Mining
64


28, 3031, 66, 6870

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Mining&MetalIurgy2012.
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Kazakhstan,

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42

l 2012# 3l

Kazakhstan

STRENGTH THROUGH COOPERATION






. :

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050008, ,
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e-mail: vitaliy.golovchenko@esab.kz, www.esab.ru



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21 2011
27
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l 2012# 3l

Kazakhstan


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Kazakhstan

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l 2012# 3l

Kazakhstan

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1,6

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2004

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372,9

363,7

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2005

2,8

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2006

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153,8

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211,1

75,7 14512,35

2007

15,5

0,6

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142

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116,9

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326,39

73,37 17764,83

2008

193,79

15,6

2055

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23,6

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238,8

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154,1

48,4

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80,3

344,6 22266,7

2009

168,87

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38,3

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532

563,1

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165,5

955,6

120,6

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157,6 4655,75 16443,51

202,8

74,0 21376,1

2010

1,3

1708,8

23,3

19,4

20,4

7,3

55,8

0,8

73,7

0,8

0,4

5,8

207,7

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826,3

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729,3

690,9

594,4

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122,2

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186,9

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650,2

236,0

908,8

123,0

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5257,3 16684,8

198,7

49,9 22190,7

2011

3,5

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785,8

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138,4

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240,6

63,3 20298,8

20102011

15698,7

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5378,5

1013,4

1080,4

1138,4

Kazakhstan 2012# 3

57

-
3.

2011 ., $ ( $20298,9)
68%

1160,1

30%

1044,9
1022
824,9

804,5
785,8

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58

l 2012# 3l

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

53,5

96,1

100,3

129,9

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60

l 2012# 3l

Kazakhstan

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Kazakhstan 2012# 3

61


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564
65430
116
4,8

701
175713
251
6,2

903
210848
233
7,2

919
126884
138
6,0

1047
60035
57
3,2

1123
113706
101
5,2

2002
9
8
39
56
475

2003
9
11
26
46
475

2004
9
15
3
26
596

2005
11
16
38
65
564

2006
14
23
139
176
701

2007
16
29
167
211
903

2008
16
32
79
127
919

2009
14
23
23
60
1047

2010
18,1
37,2
58,4
113,7
1123


2011 20102011
1008
-10%
162439
43%
161
59%
5,6
9%

, $
<200
200 1
>1

62

l 2012# 3l

Kazakhstan

2000
9
16
14
39
392

2001
8
10
48
67
380

2011
16,9
39,0
106,6
162,4
1008

10%
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- 2011 .

,

$
11 776
Petrohawk Energy
8 391

BHP Billiton
KazakhGold Group

8 178

Uralkali

100

7 359
7 165
5 499
5 390
4 949

Barrick Gold
Alpha Natural Resources
Polymetal International
Mitsubishi
Peabody Energy

100
100
83
25
100

4 948

Norsk Hydro

100

4 750

BHP Billiton

100

4 112

100

3 908
3 527

3 473

2 689
2 129

Equinox Minerals
Massey Energy

Anglo American Sur


Macarthur Coal
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Operations
Chesapeake Energy
- assets
Consolidated
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Riversdale Mining
Western Coal
International
Coal Group
Cairn India
Fronteer Gold

, %
100
73

1 950

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1 913

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1 836

1 762

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Cliffs Natural Resources

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Walter Energy

100

100

Arch Coal

100

Vedanta Resources

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(CITIC, Baosteel, Anshan


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18
100

15

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25

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49

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85

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20

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100

Jinchuan Group

100

Weida Medical Applied


Technology

63

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100

1 514

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Industries
Drummond
Colombian operations

Northgate Minerals

1 391

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1 360

1 192

1 171

Ventana Gold

AUX Canada Acquisition Inc

(EBX Group)

100

1 127

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1 524

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Kazakhstan 2012# 3

63


M&A 2006 2011 .
, $

-

2006

2007

2008

2009

2010

2011

83642
13242
15549
6156
8480
48113
530
175713

143369
18045
3040
16147
7271
22976

210848

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3718
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16657
6613
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38297
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144%
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-

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l 2012# 3l

Kazakhstan

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Kazakhstan 2012# 3

65


III -
Astana Mining & Metallurgy
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Kazakhstan


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l 2012# 3l

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73


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Kazakhstan

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l 2012# 3l

Kazakhstan




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Kazakhstan


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Conocophillips North Caspian Ltd. (8,4%),
ExxonMobil Kazakhstan Inc. (16,81%),
Inpex North Caspian Sea Ltd. (7,56%), Shell
Kazakhstan Development B.V. (16,81%)
Total E&P Kazakhstan (16,81%),
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Kazakhstan

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l 2012# 3l

Kazakhstan




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.

Kazakhstan 2012# 3

85

2
0
1
2
_
3

Eurasian Vision
of Global Problems

Investors and the State:


to Revive the Silk Road

We are Implementing
the Plans and will go Forward

Mineral Resources
Exploration 20002011:
Reserves, Production,
and Investment

Iteca: Strengthening
a Leading Position

Mining&Metallurgy2012

FORUM

Eurasian Vision
of Global Problems

88

In late May, Astana became again a meeting place for representatives of the
political, business and scientific elite, the center of discussion of problems and
prospects of global economic transformation. Some 8,000 delegates from more
than 90 countries, including eleven Nobel laureates, four participants of the global
rating A Hundred Thinkers of Our Time, also current and former heads of the
states and governments, and heads of international organizations and regional
associations arrived in Astana for the Fifth Astana Economic Forum (AEF). Taking
into account the scope and scale of the considered topics, we can state today that
the dialogue platform of the AEF has no analogue throughout the Eurasian region.
l 2012# 3l Kazakhstan

G-GLOBAL inaction

pening theevent, President


of Kazakhstan Nursultan
Nazarbayev noted that interms
of content theAEF, isin fact,
becoming a transponder of
Europes vision of problems
of global development and
economic transformation of
theworld. Although thelatter
topic has been discussed inthe
world for a few years, however,
many of theideas and theories
proposed have not helped
to overcome theshortage of
practical solutions. As a result,
theglobal economic crisis has
turned into social one, which
has spread to many countries,
including developed ones.
According to thePresident
of Kazakhstan, today enormous
funds are allocated to rescue
certain national economies,
to maintain thebalance of
theWorld Bank and IMF.
Unfortunately, theabove are
all thepositive steps taken by
theG-8 and G-20. But every
billion dollars islikely to raise a
billion of new social problems.
As they say, its like putting
out a fire with gasoline. Such
a half-way approach to global
recession response isthe
striking evidence of one more
systemic crisis corrosion
of international relations.
Onthe one hand, thecreation
of theG-20 considerably
e x p ande d t her ange of
d i a l o g u e o n r e f o r m i n g
theglobal economy. However,
today, four years following
thefirst summit of theantirecession G-20, this format
no more seems suf f icient.
Moreover, atthe last World
Economic Forum inDavos,
many world leaders f inally
agreed that its time now to
do something with capitalism,
or more exactly, with its neoliberal modification.
Inview of this, atthe end
of 2011 President Nazarbayev
proposed inthe framework of

theAEF to test a new format


of dialogue, which he calls
G-GLOBAL. This idea received
widespread suppor t among
p o l i t ic ians , e x p er t s an d
business circles. As a result,
during a few months more than
30 thousand users from 140
countries had become regular
users of thecommunicative
website G-GLOBAL. Infact,
an intensive search for ways
of forming a new stable and
equit able wor ld order of
the21st century began.
Nursultan Nazarbayev
presented theAEF participants
a series of findings made onthe
basis of proposals submitted
under this initiative. First,
theinternational community
isgoing through one of
themost controversial and
difficult stages of its history.
Never before has mankind
had such great potential for
successful development and
self-destruction. Realization
of this makes ittopical
thesolution of global problems
solely onthe basis of a
comprehensive approach.
Second, this level of global
communicat ions , enabling
today to shorten distances,
to compress thetime, and
to overcome thehistorical,
political and other barriers
has never been before. Along
w ith that , this potent ial
should not become a tool
of information provocation,
deliberate collapse of themoral
foundations and public order
inthe undesirable societies.
Third , today thewor ld
islearning to live inthe new
conditions. Society has to
follow thepath of progress
and growth of technologies and
levels of public relations. For
this, itis important to actively
learn thesuccessful experience
of development. Kazakhstan
isready for such cooperation.
Itshows readiness to learn and
share its experience with its
friends.

Fourthly, thestructure of
theglobal world inthe 21 st
centur y should t ake into
account thepeoples desire
for justice. Justice inthe 21st
century isnot only a moral. Itis
one of thecrucial conditions
for successful national and
global development. Inthe
21st century immoral are those
socio-economic models that are
built onpumping thenatural
resources of thethird world
count r ie s. There source s
inthose countries will deplete
one day, and we will come again
to a dead end.
Fifthly, itis important to
pull out theentire system of
international relations from
thestate of stagnation. Itis
necessary to form transparent
world politics with a high level
of trust between thestates
as thefoundation and with
their mutual responsibility
for t hepresent day and
thefuture of every region and
theentire world.
According to Pres ident
of K a z akhs t an , G- GLOBAL
as a civilized initiative of
theinformation epoch showed
its incredible popularity for
thesix month per iod. It
demonstrated thepossibility
of f inding an answer to
thesystemic crisis that had
hit theglobal economy, moral
foundations and international
relat ions I believe that
all together we will be able
to achieve themain goal of
G-GLOBAL to propose to
theinternational community an
attractive and effective model
of international relations inthe
21st century.

Theprinciples of
thenew world order

urther, Nursultan Nazarbayev


pr e s en t e d t o t heAEF
delegates five principles of
G-GLOBAL, which, inhis opinion,
could become a fundamental
basis for thenew world order.

Thef irst pr inciple


isevolution, but not revolution.
Mank ind has exhausted
thelimit for revolut ions
and world wars back inthe
l a s t c e n t ur y ; s o t o d a y,
thesuccessful updating of
theglobal architecture can
only be evolutionary. Thepath
of reforms isthe only way to
progress inthe 21st century.
Thesecond pr inc iple
is fairness, equalit y,
a n d c o n s e n s u s . To d a y s
classification of countries for
major and minor, leading and
lead ones isout of date from
theviewpoint of civilization.
An alternat ive to theold
geopolitical practices isthe
fair approach to development of
theglobal economy, a monetary
system and policies that are
based onthe equality of all
thecountries. Inprospect,
itis vital that global solutions
atall levels (including theUN,
international organizations,
regional associations, forums,
and summits) are taken only by
consensus.
Thethird principle isglobal
tolerance and trust. This
involve s not only int erethnic, inter religious and
intercultural mutual respect.
Relations between thestates
should be tolerant, regardless
of their geopolitical weight
and inf luence , his tor ical
e xper ience , and level of
development of theeconomies
and society.
Thefour th pr inc iple
is global transparency. Peace
inthe G-GLOBAL format isa
transparent communit y of
nations. There should be no
double standards, degrading
themerit of thenations, both
of thelarge, medium-sized
and small ones. Maximum
openness and transparency
in in t e r n a t i o n a l a f f a i r s
isneeded.
ThePresident of Kazakhstan
called construc t ive mult ipolarity as thefifth principle,

Kazakhstan 2012# 3

89

FORUM
inthe framework of which itis
necessary to create a balanced
system of geopolitical curbs
and counterweights. Within
this system there should be no
place for geopolitical snobbery
or psychology of blocking,
which isa negative legacy of
thebipolar world. Powerful
integration associations have
to co-exist peacefully and work
closely within this system.
TheEurasian Economic Union,
which we are now creating,
w ill become one of them
inthe near future. I believe
that only inthe condition of
constructive multi-polarity,
will theworld solve pressing
issues of theglobal economy
and will acquire sustainable
development.
To d is cu s s t h e s e f i v e
pr inciples, Nursultan
Nazarbayev proposed to create
a special web portal which will
be segmented by themain ideas
of G-GLOBAL. Among them, there
are thereform of theglobal
economy and monetary system,
creating a nuclear-free world,
thestrengthening of global
secur ity, theexpansion of
dialogue between cultures and
nations, theimplementation
of theconcepts of global
energy and env ironmental
development , including
Kazakhstans initiative Green
Bridge. Inhis opinion, all these
areas could form thebasis for
developing theGlobal Strategy
of theFuture. TheInternational
Institute of Predictions which
could be set up onthe basis
of theEurasian Economic Club
could help with scientif ic
studies of theglobal strategy of
thefuture and experts opinions
onthat.
Inconclusion, thePresident
of Kazakhstan urged theAEF
par t icipant s to adopt
theAddress to theUN to
conduct inAstana inMay
2013 a Global Anti-Recession
Conference to develop theanticrisis plan of action.

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Kazakhstan

Common positions

arge-scale conceptual ideas


expressed by Nursultan
Na z ar bayev gave suppor t
and development infurther
speeches of theparticipants
from abroad atthe main plenary
session of theAEF.
Thus, a special guest of
theforum, Turkey s Pr ime
Minister, Recep Tayyip Erdogan,
said that therecession isa
common problem, which to
solve thecombined efforts of
theinternational community
are required. Today, when
t heEurop ean and global
economy are slowing down,
credibility and trust play a
key role here, as without them
there will be no investment,
no money, and no welfare of
thepeople. Inthis regard,
theG20 should play a more
serious role. Along with that,
he criticized thesubjectivity
exhibited by therating agencies
which inthe evaluation of
theemerging markets are often
based onpolitical or ideological
motives. They should fairly
consider theemployment and
economies , and only then
evaluate. Otherwise, this would
harm thestates to which they
assign ratings. Speaking about
theachievements of his country,
Turkeys Prime Minister noted
that today Turkey has one of
thefastest growing economies
inthe world. Over thepast nine
years, theeconomy of Turkey
grew fourfold, and Mr. Erdogan
could share that successful
exper ience. Of course,
ever y countr y has its own
conditions, inwhich itcombats
therecession and defines its
strategy for economic growth.
However, interms of financial
polic y and thesystem of
incentives, we could be an
example for theothers and
co op er a t e in ov ercoming
therecession.
High appraisal to theAstana
Economic Forum as a platform

onwhich thepresent day


discussion of key issues takes
place was given by theUN
Secretary-General Ban Ki-moon
inhis welcoming speech for
theforum, which was read by
Under-Secretary-General for
Economic and Social Affairs Sha
Zukang to theAEF participants.
As indicated inthe address
to theparticipants, in2030
theworld will need atleast 50%
more food, 40% more energy,
and 30% more water, as well as
millions or even billions of new
jobs, and therefore to resist
theexisting challenges can only
be possible through creative
unconvent ional t hink ing.
Inthis regard, a new economic
model should be based
onenvironmental sustainability
and social development, with
attraction of new segments of
thepopulation, as well as with
taking into account thefiscal,
budgetary, intergovernmental,
soc ial and env ironment al
aspects.
Ex-President of Germany
Horst Koehler inhis speech
deepened into theissue of
observance of theprinciples
of social justice. Stating that
theeconomic recession has
not ended yet, he noted that
one of theunderlying causes
of this problem isthe lack of a
common format of regulation,
and thus, itis necessary to
develop common approaches to
solving global problems. Inthis
regard, theobser vance of
ethics should become themain
condition. The society inits
unrestrained avarice, inthe
pursuit of short-term profits
and f inanc ial we l l-b e ing
became neglecting morality
InBerlin, one can buy a
postcard with theslogan: If
everyone starts thinking only
about yourself, we will all lose.
Itreally has a deeper meaning.
We have to take into account
thevalue of all thenations
inthe world. We need a global
ethic. Truthfulness, tolerance,

equalit y, par tnership and


equitable economic order
these are thepriorities mankind
should adhere to inthe future.
Only then we can succeed.
Deputy Managing Director
of theInternational Monetary
Fund , Min Zhu said that
theworld isentering thestage
of slow economic growth. For
example, in2012 global GDP
grew by 3.5%, compared to
last year s 4%. Thegrowth
it s e l f isb e coming mor e
heterogeneous, ranging greatly
from country to country. As
a result, thefoundation of
theglobal economic situation
ischang ing t hemain
dr iver isshif t ing towards
thedeveloping countr ies;
t hel a t t er ar e l ike ly t o
account for more than 50%
of global GDP inthe current
year. Thefor mer leaders ,
thedeveloped countries, by
contrast, are slowing down as a
result of unresolved issues with
sovereign debt and thebanking
sector. TheIMF predicts that
thesituat ion w ill fur ther
deteriorate, and stabilization
inEurope can hardly be
expected before 2016.
Speaking of Central Asia, Min
Zhu said that thecountries of
this region well tolerated global
financial turmoil, ingeneral.
Along with that, inthe condition
when theinvestment capital
flows are extremely unstable,
for us itis quite important to
diversify theeconomy so as to
move away from its pronounced
dependence onraw materials.
Thesecond objective isto
rehabilit ate thef inanc ial
sector, which w ill protect
against external shocks.
A regular par t icipant of
theAEF, Nobel laureate Robert
Mundell, also drew attention
to thechanging balance of
interests and power between
thedeveloped and developing
countries. There are always
prerequisites that such
rebalancing will take place

FORUM
atthe IMFs and World Banks
level. He thinks thesignificant
event isthat theyuan isnow
a part of short-term loans of
theIMF, along with thedollar,
pound and euro. This isthe
event we were waiting a long
time for. Thesame islikely to
happen with theRussian ruble,
because theRussian economy
isgrowing rapidly and already
exceeds many of theeconomies
of theEuropean Union. Also,
he al so listed three main
problems inthe worlds financial
architecture. These are unstable
pr ices for r aw mater ial s ,
thevolat ilit y of cur renc y
exchange rates, and thelack of
monetary coordination between
theeuro and thedollar. If we
want to have a global credit
system, we should not let these
two currencies be unstable
with respect to each other. My
idea isthat theU.S. should buy
theeuro, theEuropean Central
Bank should buy dollars inorder
to balance theexchange rates of
both thecurrencies. According
to Mr. Mundell, theoptimum
corridor for therate of exchange
isthe range of $1.25 to $1.30
per euro. Such stabilization
would be a good anchor for
further expansion of theglobal
monetary system. Here, China
could be involved with thehuge
monetary reserves itcurrently
possesses Inthe condition
when theyuan isalmost
stabilized against thedollar, we
would be able to stabilize 50%
of theglobal economy.
As for a new global reserve
currency, itmust necessarily
appear inthe next 1020
years. Moreover, according to
Robert Mundell, itmust not
necessarily be a monetary unit
of a particular country. This
may be theright of shortterm borrowing from theIMF.
For example, thesolution can
be to set six ounces of gold
as thescope of such right
and to add gradually to this
system theruble, pound, yen,

92

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Kazakhstan

and yuan. However, currently,


these r ights of shor t-term
borrowing from theIMF cannot
work because they are based
ontwo currencies which are
absolutely unstable against
each other.

Lessons from Europe

f ter themain plenar y


session, further work of
theAEF continued inthe form
of individual sessions, briefings,
roundtables, conferences and
forums. Intotal, 55 events of
various kinds were held during
thethree days. Thevariety
of topics considered atthe
forum could be conditionally
divided into three main groups:
1) F inanc ial c ap it al and
theglobal economy,
2) Industrial and innovative
development, and 3) Sustainable
development and global
social condition. Yet themost
discussed topic, both atthe
open discussions and inthe
margins of theAEF, was about
Europe. Itis quite topical for
theformer Soviet Union today,
where integration processes
are inprogress: theexperience
of theEU (both positive and
negative ones) should be taken
into account by theCustoms
Union and Single Economic
Space member countries.
No wonder that thefuture
of theEurozone countries was
therefrain atthe briefing The
Dialogue of Leaders: TheNew
F i n a n c i a l a n d Ec o n o m i c
Policy. Thebriefing became
theending event atthe AEF
2012. During thediscussion,
thefor mer Br it ish Pr ime
Minister Tony Blair said that
thecurrent world economy
isvery vulnerable, and thekey
to changing thesituation isthe
availability of a coordinated
policy for fur ther grow th.
This isespecially pressing for
theEuropean countries which
have no alternative to carrying
out fundamental structural

reforms inareas such as social


security and pensions, labor
market and others. According
to Mr. Blair, if Europe isable
to balance themacroeconomic
growth and macro reforms,
itwill have a good chance
to get out of this recession
successfully.
Inhis turn, Italian exPrime Minister Romano Prodi
said that European countries
should come to a truce to calm
down thefinancial markets to
develop a common strategy. He
said if we have therefinancing
rates rising as inGreece, we will
not be able to implement these
strategic reforms. Therefore, we
need an immediately long-term
strategy to develop measures
to overcome theeconomic
recession.
E x-Pr ime Minis ter of
theNetherlands, and now
President of theClub de Madrid
Wim Kok al so agreed with
thenecessity of structural
r e f o r m s a n d a u s t e r i t y.
However, he believes that
itis necessar y to develop
targeted, selective initiatives
to achieve, atleast, higher
rates of economic growth, since
theunemployment, especially
among young people insome
countries of Europe, has already
reached 40%.
Kazakhstans Prime Minister
Karim Massimov expressed his
vision of thesituation inthe
Eurozone. He compared itwith
therecession inSoutheast
Asia. Inhis opinion, those
advices and recommendations
theIMF and World Bank gave
to theASEAN countries 10
12 years ago, could be a help
to thecountries of Europe
today. Politically, this will
be painful measures, but this
isthe only option Inour
view, Europe, atleast, some
parts of it, isstrong enough
to survive. Themain problem
of theEU isthat when inthe
Eurozone thepolitical and
monetar y unif ication took

place, thequestion of a unified


budget system had not been
resolved. This iswhat we are
currently discussing inthe
f ramework of theCustoms
Union. Thepolitics should not
go far ahead of theeconomy;
otherwise, we will fail. Inmy
opinion, first we should see a
single Ministry of Finance for
theEuropean Union, and only
then theeuro will be able to
become stable.
According to E xecut ive
Director of theReinventing
Bretton Woods Committee, Marc
Uzan, what ishappening today
inthe Eurozone isnot a crisis
of theEuropean currency, but
crisis of management. We have
a credit and monetary union,
but we have no economic union
and political union. This isthe
same level of theproblem we
face globally.
Inthis regard, Deputy General
Secretar y of theEurasian
Economic Community Sergei
Glaziyev noted that to come out
of therecession thestructural
reforms of theeconomy and
a new system approach are
required, when thereal and
financial sectors are considered
as a single unit and institutes
ensure this interrelation. As
we work inthe open global
world today, institutes should
be global as well. I.e. those who
print world currencies should
take responsibilit y before
theother world and comply
w ith cer t ain limit at ions.
Those who have possibility to
multiply money should make
particular limitations, clear to
everyone.
Itis of note that practically
a l l t h e p a r t i c ip a n t s o f
thedebate agreed with such
viewpoint. This means that
t hecons ensu s , atl ea s t ,
inthe framework of theAEF,
isreached. Thematter iswhen
theconsensus will become a
global one.
Editorial

Foreign Investors Council

Investors and the State:


to Revive the Silk Road

The 25th plenary session of the Foreign Investors Council chaired by the
President of the Republic of Kazakhstan that took place on May 22 in Astana
addressed the development of Kazakhstan as an international trade, logistics,
business and financial hub. In his speech at the event, the President had
urged the transnational corporations to actively participate in the New Silk
Road megaproject, and in response the foreign investors presented their
vision of the given initiative.
94

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Kazakhstan

Kazakhstans plans

heabove topic for


theanniversary meeting
of theFIC was not chosen
by chance. Indeed, today
Kazakhstan has this unique
opportunity to become both
a business hub inthe Eurasian
region and a transcontinental
economic br idge bet ween
theeconomic systems of
Europe and theAsia-Pacific
region.
Firstly, our countr y has
a f avor able geogr aphical
location: Thetranscontinental
routes such as North-South,
West-East, South-East Asia
Central Asia region go through
Kazakhstan. Located inthe
heart of Eurasia, we are able to
connect themarkets of China,
Europe, Russia, theCIS, and
thePersian Gulf states.
Secondly, thecontinued
grow th of f reight traf f ic
between theEU and China
will add to that. Theannual
volume of trade between them
already exceeds $500 billion
with average annual growth
of 8%. With this, thetransit
route from China to Europe
via Kazakhstan has a distinct
advantage: itis comparatively
shorter than theroute by sea
through theSuez Canal. As a
result, we expect that by 2020
thetrade operations between
thecountries neighboring to
Kazakhstan will increase by
1.5 times to $1 trillion.
Thirdly, theabove
isKazakhstans integration
policy, which provides direct
access to themarket s of
theCustoms Union. Atthe
F IC m e e t i n g , N u r s u l t a n
Nazarbayev told theinvestors
that theSingle Economic Space
will start operating atits full
pace inJuly 2012, while by
theyear 2015 theSES members
will approach thecreation of
theEurasian Economic Union.
According to him, all this will
contribute to free movement

of capital, goods and human


resources.
Theother impor tant
f ac tors that are seen to
add to raising international
capital into thedevelopment
of Kazakhstans hub are a
favorable investment climate
and thepolitical and economic
stability of therepublic.
Inthis regard, thePresident
resorted to theFIC members
with a proposal to launch a
joint large-scale project New
Silk Road. Kazakhstan will
have to reinstate its historical
role and become thelargest
business and transit hub inthe
Central Asian region, a bridge
between Europe and Asia. As

a d v a n t a g e o f t h e N e w
Silk Road.
According to Mr. Nazarbayev,
thecore element of theNew
Silk Road, thetransportation
and logistics hub, will be
developed onthe basis of
thefollowing projects and
directions:
First , a nat ional mult imodal transpor tat ion and
logistics company of world
class isalready being set up
onthe basis of Kazakhstan
Temir Zholy JSC. Its goal isto
create a system of multimodal traffic and high speed
corridors for delivery from
door to door . This w ill
prov ide thetechnological

Kazakhstan will have to reinstate


its historical role and become
thelargest business and transit
hub inthe Central Asian region,
bridge between Europe and Asia.
Nursultan Nazarbayev
a result of implementation
of this megaproject, by 2020
thefreight transit through
Kazakhstan islikely to increase
almost twice with thefurther
increase of to 50 million tons,
as theminimum.
ThePres ident believes
that to implement this large
project, itis necessar y to
combine ef for ts to create
integrated international hubs
atthe key transport corridors
of Kazakhstan a trade and
logistics hub, financial and
business hub, innovation and
technology hub, and tourism
hub. As a result of their
ter r itor ial and func t ional
connectivity, a synergistic
effect isexpected to emerge
which will implement theFour
S Principle Speed, Service,
Safety, and Stability. This
exactly isseen as themain
source of compet it ive

interaction between all modes


of transport.
Second, Republic of
Kazakhstan isac t ively
developing its eastern gates,
theInternational Center for
Boundary Cooperation Khorgos
onthe border with China.
According to theMinister of
Economic Development and
Trade, Bakytzhan Sagintayev,
ongoing construction of a
mult i-func t ional logist ics
hub of A Class isalready
inprogress, which will involve
cargo handling terminals that
will perform also commercial
and production functions,
to ser v ice thecont ainer
freight turnover. To create
an industrial and logistics
hub atKhorgos, Kazakhstan
engaged internat ional
adv is er s D el oit t e and
AECOM. T heproje c t s t o
expand theseaport of Aktau

and to build a logistics center


inthe city of Aktobe will
be implemented inthe west
of therepublic. They will
become theWestern Gate
of thecountry, giving access
to theborders of theCaspian
states, Russia and further to
Europe.
Third , t hec reat ion of
thetranscontinental corridor
Western Europe Western
China isgoing atits full pace.
Theproject with a deadline
of 2015 will help to reduce by
almost 3.5 times thetime of
delivery of cargo from China
to Europe by land transport,
compared to theroutes by sea.
Fourth, work will continue
to increase thecar r y ing
capac it y of thenat ional
rail network. Inaddition to
thealready built railways
Uzen Turkmenistan Iran
Persian Gulf and Korgas
Zhetygen thesecond railway
border corssing to theCaspian
Sea, this year Kazakhstan will
launch projects of construction
of theZhezkazgan Beineu
and Ar kalyk Shubar kol
railways with total length of
1,200 km.
F if t h , mult i-f unc t ional
logist ics centers and
warehousing centers of A Class
will be built along theentire
route from China to Russia,
namely inthe FEZ Khorgos
Eastern Gate, inAlmaty, Aktau
and Aktobe. This will add to
expanding thepotential of
Kazakhstans contract logistics
market, which, by estimate of
theMinistry of Economy, will
reach $800 million in2015.
President Nazarbayev
believes that thedevelopment
of those business activities
and theservice sector focused
onforeign nationals inAlmaty
will to thefull extent provide
theconditions for creation
of thetour ist hub. With
this, thegreater portion of
investment will be directed
for development of ski resorts

Kazakhstan 2012# 3

95

Foreign Investors Council

for winter recreation activities


and of theKapshagai beach
for summer recreat ion.
Theterr itor y of theLakes
Balkhash and Alakol, located
inrelat ive proximit y, has
al so great pot ent ial f or
t h er e g ion. A l on g w i t h
that, thedevelopment of an
oilfield services cluster and
infrastructure of theseaport
of Ak tau inwestern
Kazakhstan will give impetus
to theconstruction of nearby
sea resor t area Kenderli.
At p r e s e n t , t o p r o v i d e
comprehensive suppor t to
tour ism, theMinistr y for

96

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Kazakhstan

Foreign Affairs isconsidering


theelimination of visas for
citizens of 34 countries.
Concerning theinternational
innovation and technology
hub, Kazakhstan has plans
to set itup before 2020
onthe basis of thealready
oper at ing f ree economic
zone Park of Innovat ive
Technologies. There are 120
innovative enterprises having
registered onits terr itor y
to date; moreover, national
companies are planning to
place their research units
there. We will continue to
invest inthe development

of world class infrastructure


and will apply extra benefits
and guarantees, inparticular,
through placement of a state
order for carrying out R&D,
thePresident promised.
A key role inthe New
Silk Road project isgiven
t o A l m a t y ; t h e l a t t e r,
inthe opinion of Nursultan
Nazarbayev, w ill have to
become therepublican
leader inimplementat ion
of t he technolog ies of
t h e f u t u r e, in s a f e t y ,
environmental friendliness
and convenience for foreign
nationals.
Thus , t hepr inc iple of
one-stop shop for foreign
businessmen and investors will
be introduced inAlmaty. We
will provide a comprehensive
package of ser v ices ona
simplif ied basis starting
w ith obtaining v isas and
various permits, contacts with
government agencies, and
ending with theregistration
of companies. Using Almaty as
thepattern, such large-scale
transformations will have to
be implemented throughout
thecountry, inevery city.
Thesouthern capital ,
inpartnership with thestock
exchanges inAsia and Europe,
isplanning to establish an
int er nat ional commo dit y
exchange, which will service all
freight traffic going through
Kazakhstan. Theincrease
int r ade oper at ions and
freight turnover should give
impetus to thedevelopment of
theRegional Financial Center
of Almaty.
Having presented his vision,
thePresident then gave an
order to thegovernment to
work together with members
of theForeign Investors'
Council to discuss theabove
directions and before theend
of thecurrent year to develop
a comprehensive pl an of
action onimplementation of
theNew Silk Road project.

Recommendations
from theInvestors

In

their turn, theforeign


members of theF IC
presented a number of
practical obser vations and
recommendations onever y
direction of theKazakhstans
project.
Inpar t icul ar, theVice
President of theA sian
Development Bank , Ms.
Lakshmi Venkatachalam, put
emphasis onthe importance of
Kazakhstans role inbuilding
an impor tant mult i-modal
transpor t corr idor through
theCaspian Sea and South
Caucasus connecting China
w it h S out her n Europ ean ,
theMiddle Eastern and North
Af r ican market s. Such an
under taking would require
co n c e r t e d co l l a b o r a t io n ,
not only among government
par tners China , Turkey,
Azerbaijan and Georgia but
more importantly among private
sector counterparts who are
inthe best position to be able
to integrate key transportation
modes along thecorr idor.
Building thetranspor t
corr idor would require
not only at tract ing major
inf rastructure investment s
but also eliminating of ten
softer bottlenecks to ensure
theinvolvement of theprivate
sec tor. According to Ms.
Venkatachalam, thegovernment
of Kazakhstan and theNational
Company Kazakhstan Temir
Zholy should closely interact
with thecompanies which
have extensive expertise and
good reputation inthe area
of logist ics integrat ion.
Moreover, world class logistics
companies should be given
theoppor tunity to manage
and market entire block trains
inKazakhstan and not just
individual wagons. A good
example of this isthe APL-run
IndaLinx express container
train which connects gateway

Indian ports with major north


Indian Industr ial Centers.
Finally, according to theADB
representative, the right to
control and / or concession
Aktau sea port to pass to a
world famous international
operator, who could br ing
to thecor r idor of major
customers. Inthis regard,
she referred to theexperience
of theBlack Sea port of Poti
inGeorgia (another important
site of thecorridor), which
isnow owned by a well-proven
port operator.
For theother part, Chairman
of theBoard of Directors atJP
Morgan Chase International
Dr. Jacob Frenkel proposed
to Kazakhstan to consider
thepossibility of establishing
a specialized organization for
infrastructure development,
which will deal solely with
projects inthis area, from
ini t ial p l anning t hrough
to complet ion. Inhis
opinion, through combining
theintellectual and financial
resources within one
organization that has adequate
experience inimplementation
of infrastructure projects atall
stages, thegovernment could
achieve maximum efficiency
int heir impl ement at ion.
Such a national champion
inthe field of infrastructure
would be theonly contractor
to thegovernment, investors
and end-users, incharge of
theachievement of social and
economic goals.
Theshareholder of Eurasian
Natural Resources Corporation
(ENRC) Alexander Mashkevich
drew attention to thefact that
under theForced Industrial
and Innovative Development
program theindustr ial
enterpr ises inthe countr y
invest heavily inexpanding
theproduc t ion f ac ilit ies ,
inc r ea s ing t h er ange of
manufactured product s,
diversif ication of business,
r ais ing e x por t pot ent ial ,

and entering new markets.


Inthis context, thepriority
requirement isthe r apid
development of thetransport
and logistics sector ina way
so that itwill not constrain
t h eg r o w t h o f in d u s t r y
and national economy as a
whole. To do this, Kazakhstan
should be integrated into
theinternational transpor t
system and ensure theintegrity
of theentire production and
supply chain.
Int he opinion of Mr.
Mashkev ich, thefact that
Kazakhstan isa landlocked
country iscompensated by
thecountr ys geographical
proximity to China. Therefore,
thedevelopment of transport
facilities between Kazakhstan
and China isof great strategic
impor tance. Inpar ticular,
in2011 ENRC expor ted to
China some 5 million tons of
iron ore. Taking into account
themeasures to increase
thethroughput capacity of
theborder terminal s and
thesolving by theChinese side
of theissue to provide empty
wagons for transshipment ,
ENRC will soon be ready to
increase by double thesupply
of this raw material to China.
Inthis regard, thecompany
asked to maximize theefforts

of Kazakhstans Temir Zholy


to eliminate physical and
non-phy s ic al bar r ier s t o
inc rea s e f re ight t r af f ic.
Among themajor measures
Mr. Mashkevich called onthe
modernization of dispatcher
control systems and
introduction of an innovative
system of inter val traf f ic
control of thetrains, enabling
to increase thethroughput
capacity of thesites almost
twice. Among them, he also
listed theimplementation of
theDostyk Green Corridor
project and theorganization
of shuttle trains departing

for China according to fixed


time-tables.
Chief Oper at ing Of f icer
of theMetro Cash & Carr y
Company, Jeroen de Groot ,
lis ted thet r anspor t-andlogistics and administrative
barr iers that are currently
impeding thedevelopment of a
national network of wholesale
trade. Thef irst one isthe
irregular adequacy of theroad
infrastructure. Taking into
consideration development of
theCustoms Union, he drew
at tent ion to therequired
improvements to theNorth
South highway (Yekaterinburg

Kazakhstan 2012# 3

97

Foreign Investors Council


Almaty), which isoften closed
inwinter time. He believes
that a big challenge isalso
thenon-availability of class A
warehouses, as well as thelack
of warehouse managing
companies. Unfor tunately,
these ser v ices are of ten
concentrated inthe big cities,
inpar t icul ar inAlmat y.
Inhis opinion, this service
niche should be marked by
thegovernment as a priority
activity with theprovision
of benefits and preferences,
or itshould be included into
theForced Industr ial and
Innovat ive Development
Program. He told that thesame
preferences and state support
should be made available for
thetranspor tation vehicle
sphere, where there isstill a
lack of adequate resources.
Inhis turn, John Ferraro,
Chief Operating Officer atErnst
and Young, told that apart
from rail and road transit
potential, Kazakhstan has a
unique position as a regional
node for air passenger and
c a r g o t r a n s i t . H o w e v e r,
thechallenge to preser ve
a competitive position and
at t r ac t more inves t ment
woul d re quire solv ing a
number of issues. Thefirst is
thecost-ef fectiveness and
availability of fuel. To solve
this therepresentative of
Ernst and Young encouraged
theGovernment to consider
investing inthe production
of jet fuel. Thesecond issue
thequality of infrastructure
and air transport, logistics
and warehousing, as well as
ground handling and customs
ser vices. Itcan be solved
with thehelp of companies
that have relevant experience
inairport management and
are able to attract investment
to improve inf rastruc ture
and training of qualif ied
personnel. Thethird task isto
develop effective mechanisms
for compliance with theCivil

98

l 2012# 3l

Kazakhstan

Aviation program, designed


to comply with international
safety standards.
Cohen Vanharent s , a
member of theE xecut ive
Committee atBaker & McKenzie
International, proceeded onthe
issue raised by Mr. Ferraro. He
proposed to make Kazakhstan
thecenter of theCustoms Union
for warehousing of imported
goods. According to him,
inthe Customs Union member
countr ies thewarehousing
of goods onthe terr itor y
of one of thestates before
selling thegoods inthe

af ter clear ing customs


procedures without incurring
any addit ional taxes as a
result of that sale, Kazakhstan
can create warehousing hubs
atits principal international
airports.
P r e s i d e n t a n d C EO o f
thecompany Telia Sonera ,
Lars Nyberg, believes that
Kazakhstan has a high potential
for developing mobile Internet
services. Moreover, itis a global
trend. For example, inSweden,
TeliaSonera forecasts that in5
years from now an average
smartphone user will consume

Kazakhstan will ask all these


investors who operate onthese
strategic resources as well as
local steel companies to invest
increation of an alternative
economy, inits industrialization.
local market isstill poorly
developed. This isdue to
thefact that local laws deter
many foreign manufacturers
that have no presence inthe
Customs Union. For example,
a foreign manufac turer
who wants to store goods
inKazakhstan before they are
sold isconsidered to have a
permanent establishment
u n d e r l o c a l l a w. W h e n
themanufacturer then wishes
to take thegoods out of
thewarehouse and sell them
to a local customer, itmust
pay 20% corporate income tax
onthe sale price, as well as 15%
net income tax. As a result,
theforeign manufacturers
prefer to sell thegoods directly
from abroad and, therefore, they
do not pay taxes inKazakhstan
atal l . According to Mr.
Vanharents, by making simple
changes to its legislation to
permit foreign manufacturers
to store goods intended for sale
inthe Customs Union countries

10 times more data than today.


Inthis regard, he expressed
confidence that 3G services will
support Kazakhstans ambitious
development plans to become
a transportation, information
and technology hub inCentral
Asia. Along w ith that ,
thetechnology development
ison going. Therefore, inthe
opinion of TeliaSonera head,
thegovernment should
consider issuing 4G licenses
t o t hemobil e op er at or s
inKazakhstan atthe earliest
convenience and inthe same
equal, open and fair manner, as
was thecase with 3G licenses.
Speaking about theprospects
of forming a regional financial
hub Kazakhstan, theEBRD head
Thomas Mirow emphasized that
although thebanking system
of our country was seriously
af fected by theeconomic
recession and isstill affected
by it, therepublic still has
themost developed banks
inthe region. Moreover, our

country isthe leader among


theCIS countries inthe field
of pension refor ms , both
interms of regulation and
thegrowth of pension fund
assets. Now, for Kazakhstan
to implement its potential
role as a real financial center
inthe region, two conditions
have to be met. Thefirst one
isto ensure thehealth of
thedomestic banking system.
Itis necessary to accelerate
theresolution of issues related
to troubled loans. Second,
thelocal capital markets will
have to become deeper and
more liquid before they will be
able to start playing a greater
regional role. According to Mr.
Mirow, theplanned Peoples IPO
islikely to become themain
cat alyst for this process ,
subject to further institutional
r e f o r m in g o f t h e t a r i f f
regul at ions for potent ial
candidates.
Deputy Chairman of Board
for Business Development
atPr icewaterhouseCoopers,
Don Almeida, told that for
successful implementation of
such a program three areas will
be particularly important. They
are theincrease inawareness
and interest of theinvestors
inthe Peoples IPO, raising
standards of corporate
governance and transparency
of repor ting, and br inging
thelegislation inline with best
practices to ensure investor
confidence.

Tomorrows goals

ummarizing thesession with


theinvestors, President
Nazarbayev congratul ated
thepar t icipant s w ith
thetwenty-fifth anniversary
meeting of theBoard and
thanked them for their active
involvement and ideas. We
are a young country and we
continue learning from you,
our friends, inall these years
of independence, we were

openly discussing problems,


removing barriers for business,
so that business would feel safe
calm here.
Along with that, thePresident
of Kazakhstan proposed to
introduce a new practice of
holding meetings of theFIC.
From now on, ateach of them,
two extra topics will be inthe
agenda. Thefirst one isthe
progress of implementation
of theinvestment policy and
theprotection of theinvestors
interests. Thesecond one will
cover thedevelopment of
local content. We dedicated
thetwentieth plenary session
of theFIC to this issue already.
But , given its impor tance,
I propose to discuss this
is sue a tev er y m e e t ing.
W it h t his , t he empha s is
will be ondevelopment of
technologies. As for thelocal
content polic y, we would
like to see more high-tech
an d k n ow l e d g e -in t e n s i v e

goods and services. Inthis


regard, he proposed to devote
thenext meeting of theFIC
to theConcept of Innovative
Development of Kazakhstan till
2020 which theGovernment
of Kazakhstan iscurrently
developing. I want to say
to you frankly what we want.
Thelargest mineral deposits
are theimportant strategic
resources of our nation, and
for thefirst time inits history,
itbuilt an independent state
that has become a respected
country inthe world. So, we
will ask all these investors
who operate onthese strategic
resources as well as local steel
companies to invest increation
of an alternative economy, i.e.
inour industrialization. We will
give you such proposals.
Nursultan Nazarbayev
warned that further provision
of deposits for development
and theincrease inthe term
of operation of thedeposits

under development w ill


involve thepar t ic ipat ion
inconstruction of new facilities.
Moreover, thegovernment
w il l in v e s t jo in t ly w i t h
theinvestors. This will be your
enterprises that will operate
with thefocus onextraction
and processing of oil and gas
resources and metal s, will
create new jobs and new
technologies inKazakhstan.
For example, theChev ron
Company isa good example
of that; they are now building
atmy request specialized
plant s for manufacture of
pipes. I think they will be
developing. Theother example
isthe proposal from theTotal
Company to set up theInstitute
of Welding, and so on. But, dear
friends, this isnot enough. We
ask for greater involvement. This
isthe subject of negotiations,
and we have to jointly solve
itto make itbeneficial both to
Kazakhstan and you.

ThePresident urged the


investors to assist inoutlining
t her ight approache s t o
thetechnology development
policy and atthe next FIC
meeting that will be held
onMay 23, 2013, to share
their views as to practical
implementation of thepolicy
concept.
A ceremony of awarding
thew inner s of TheBest
Foreign Investor inKazakhstan
2012 contes t took pl ace
as par t of theanniversar y
meeting program. ENRC won
innominat ion For Direc t
Investment , BG Group
innominat ion For LongTerm Strategic Cooperation,
and Metro Cash & Carry was
selected as themost socially
responsible investor. TheGrand
Prix of thecontest and thetitle
TheBest Foreign Investor was
awarded to Tengizchevroil.
Editorial

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Aigul
Shamshildayeva

General Director Global Resources LLP

government

We Are Implementing
the Plans and Will
Go Forward
Kazakhstans First Vice-Minister
of Industry and New Technologies,
Albert Rau, answers questions
from the Kazakhstan magazine.

Mr. Rau, what results did themining sector


gain in2011? What figures onthe AIID
program indicators and mining sector
development program have been achieved?
hemetals & mining industr y (MMI)
has been and remains a key component
of Kazakhstans economy and among
thepriorities theAccelerated Industrial
and Innovative Development of Kazakhstan
focuses on. Theoutput by this industry
ismore than 7% of GDP and some 17% of total
industrial production. Themetals & mining
industry implies thedevelopment of dozens
of cities and whole regions; itaccounts for
more than 200,000 of those employed within
theindustry.
As you know, theAIID program isthe
most important economic initiative of our
President, and, thus, its implementation will

be a major challenge for our government for


thenext five years. To implement it, a 2010
2014 MMI development program was adopted,
specific investment projects were approved,
and prospective niches for attraction of
investment were identified for theindustry.
With this, gross value added (GVA) and output
and exports within theindustry were defined
as major performance indicators of theMMI
program.
As for thelast years results, compared to
January-December 2010, GVA of themetals
industr y invalue terms amounted to
1,300,085 million tenge, or 130.3%.
Theexpectations were that GVA would
reach just 841,614 million tenge, or 120%.
That over-performance of theannual plan
was due to global high demand for ferrous
and nonferrous metals, as well as their

increased demand inthe domestic market.


All this positively affected thedevelopment
of Kazakhstans metals industry, and inthe
current year itshows a relatively good pace
as well.
According to Kazakhstans Agency for
Statistics, in2011 quarry operations and
themining industry output incurrent day
prices amounted to 10,056.2 billion tenge,
with a physical index of 101.3%. Mining of
metal and iron ores reached 798.2 billion
tenge and 336.3 billion tenge, with a physical
index of 100.4% and 101.7%, respectively.
Metals output was 948.5 billion tenge
(106.5%). Of this, theproduction of ferrous
metals amounted to 785.4 billion tenge
(105.6%), of basic precious and non-ferrous
metals 1,156.0 billion KZT (107.2%), and
casting of metals 7.1 billion tenge (101,6%).

Theoutput of fabricated metal products,


except for machinery and equipment, was
109.8 billion tenge incurrent day prices, with
a physical index of 112.2%.
Theincrease inoutput of ferrous products
was mostly due to production of conversion
pig iron 3,141.0 thousand tons (108.5%),
crude steel 4,807.7 thousand tons (112%),
flat rolled products 3,092.2 thousand tons
(106.6%) and tubes of different diameters
188.1 thousand tons (118.4%). Itshould be
noted that thedomestic demand for ferrous
metals was mostly from thedomestic machinebuilding sector; thelatter demonstrated a
19.6% growth in2011.
Innon-ferrous metallurgy, an increase
inproduction was achieved owing to
production of raw silver 644.6 tons with
a physical index of 116.8%, including 640.6
tons (116.7%) of refined silver. Production of
raw gold increased by 6.4 tons to 36.6 tons
(121.1%), including 16.6 tons (123.6%) of
refined gold. Theoutput rose by 51.4 tons
to 1,918.7 thousand tons (102.8%) for raw
aluminum, by 78.4 tons to 111.2 tons (107.6%)
for raw lead, by 894 tons to 319.7 thousand
tons (100.3%) for raw zinc, and by 15.4 tons to
338.3 tons (104.6%) for refined copper.
Which of themining and metallurgical
projects launched to date are most
promising from theviewpoint of priorities
of theAIID program?
new mining companies were set up
during theperiod of 20102011 alone
under theIndustrialization Map program
inKazakhstan, which created 12.6 thousand
permanent jobs. This year we are planning to
launch 8 more projects, worth of 7.7 billion
tenge total, which will create 1.6 thousand
more jobs.
We already achieved thefirst results onthe
base metals. Theannual production of primary
aluminum atthe Pavlodar-based smelter
inKazakhstan came to 250 thousand tons a
year, while theproduction of titanium ingots
and alloys atthe Ust-Kamenogorsk Titanium
and Magnesium Plant reached 16 thousand
tons. Kazzinc launched a New Metallurgy
project to produce 70 thousand tons of
cathode copper a year, and theAktobe Copper
Company put into operation new facilities,
allowing producing 227 thousand tons of
copper concentrate a year.
Cur rently inprogress isthe wor k
onconstruction of theAktogai and Bozshagol
ore dressing and processing plants by
Kazakhmys corporation with a total production

36

capacity of 25 thousand tons of copper


cathode and 750 tons of copper concentrate
a year. Also, work iscontinued to increase
steel production atArelorMittal Temirtau
to 6 million tons, to organize production of
metallized product atSSGPO with a capacity of
1.8 million tons, to bring thecapacity of TNK
Kazchrome inthe Aktobe region to 440 tons of
high-carbon ferrohrome.
I would like to pay your at tention
to achievements inmodernization and
introduction of new productions inthe gold
mining and processing sector. Among themajor
projects I would note theconstruction of
thegold recovery plant Altyn Tau with a
production capacity of to 15 tons of Dore gold
a year and thegold recovery plant Kyzyl Gold,
located inthe Eastern Kazakhstan region,
with an annual output of 11.5 tons, also
theincrease inthe capacity of theAkbakai
gold recovery plant inthe Zhambyl region
owned by JSC AK Altynalmas by 2.8 tons of
gold a year, as well as bringing theannual gold
production atthe ore dressing and processing
plant Tort Kudyk inthe Pavlodar region to one
ton. With thecommissioning of new plants
into operation by 2014, we will get a real
opportunity to produce over 70 tons of gold,
and so Kazakhstan will be able to get into
thelist of top gold producers inthe world.
As for modernization of theexisting plants
and factories, a technical audit of 34 backbone
enterprises within theindustry for their
compliance with up-to-date technological
requirements has already been carried out.
This allowed starting work ontheir further
development and improvement. In2010 a
working group was created to review a 2010
2015 investment project of ArelorMittal
Temir tau, prov iding for theincrease
insteel production to 6 million tons a year.
Theworking group discussed and outlined a
specific action program to gain this purpose.
Inaddition last year our ministry reviewed
comprehensive plans of modernization for
six more enterprises. These are Aluminium
of Kazakhstan, SSGPO, TNK Kazchrome,
Kazakhmys Corporation, Sat & Company,
and Kazphosphate. Tot al investment
inimplementation of these plans throughout
theperiod till 2015 will be 1.72 trillion, or
$11.9 billion, and more than three thousand
jobs will be created. Due to theoutput of
20 new items of products with high added
value, such as metallized product atSSGPO,
refined selenium atKazakhmys Corporation,
and theintroduction of innovations atthe
enterprises of TNK Kazchrome, SSGPO, and

Kazphosphate, an increase inindustrial


output isexpected by 423 billion tenge (GVA).
Speaking about specific companies, I
would say that as a result of implementation
of themodernization plans atKazakhmys
Corporation, theincrease incopper cathode
production isexpected by 50 thousand tons,
while productivity islikely to rise by 30.8%,
and energy consumption to reduce by 32.2%.
By theyear 2015, theoutput by JSC
SSGPO will increase by 4.4 million tons
(125.7%) for commodit y product s, by
5.4 million tons (112.4%) for iron ore, while
thenumber of employees isexpected to rise
by 3,445 people and labor productivity by
153 thousand tons per person (113.4%). Atthe
same time, inconnection with theoutput of
products with higher added value theenergy
consumption will increase by 23%.
Concerning JSC SAT & Company, today this
holding company has assets for production of
ferroalloys onthe basis of manganese (Taraz
Metallurgical Plant, LLP Karuan inMangistau
region, as well as JSC Temirtau Metallurgical
Plant, LLP Arman 100, and LLP Saryarka Mining
inthe Karaganda region) and nickel (LLP
Kaznikel inthe West Kazakhstan region).
Due to modernization of theenterprises,
SAT & Company intends to raise production of
ferroalloys to 210 thousand tons that is17.4
times more compared to 2010. Inparallel, a
reduction inenergy consumption per unit of
products produced by 29.7% and theincrease
inlabor efficiency by 143.3 tons per person
isexpected.
Inconclusion, I would like to note that
this year we are planning to consider
comprehensive plans of modernization for
seven more enterprises.
Today, both thestate and enterprises of
theindustry agree that Kazakhstan has
to fundamentally change theapproach
to mineral resources development of
themetals & mining sector. What steps
have been taken inthis direction?
xtraction of mineral resources will
remain thelever of thenational economy
development for many years and, therefore,
thestrengthening of themineral resource
base of theMMI isa very urgent task. To
improve theefficiency of this process, we
analyzed thecurrent situation and possible
action. As a result, a draft Concept of Geology
Development inthe Republic of Kazakhstan till
2030 was developed, as well as amendments
were made to theMMI program to develop
themineral resources base inKazakhstan

Kazakhstan 2012# 3

101

government
in20102014. Currently, these documents are
atthe phase of consideration and adoption.
Among thekey novelties of theConcept are
thetaking into consideration of international
experience, amendment of theMMI-related
laws inthe part of declassification of geological
information and liberalization inmaking this
information available to potential users,
further simplifying theprocedure for issuing
licenses for mineral extraction, revision of
thecurrent classification of reserves and
resources, and introduction of high-tech and
effective operations inthe area of geological
exploration etc.
These are just theplans for now,
but we believe they can and should be
implemented. With theachievement of
theset goals, thespheres of responsibility
will become clearly outlined: thestate will
take responsibility for thehigh-risk stages
of operations atthe regional level, while
theexploration companies will engage
inexploration only. However, as noted above,
thestate will create all possible conditions
for theactive work of theinvestors: free
provision of information ina convenient
format, reduction of secrecy to a minimum,
simplification of procedures for issuing
licenses for mineral extraction, and so on.
We expect to see thefruits of theplanned
innovations inthe coming years.
Speaking about development of themineral
resources base, we should take into account
one very important aspect. As you know,
dozens of years before, one-factory towns
were created inthe places of thediscovered
and explored deposits of ore minerals that are
entirely dependent onoperation of themining
company. Atpresent, thegeological reserves
atsuch deposits are depleting, so thecurrent
time dictates to carry out exploratory drilling
atdeeper horizons inorder to maintain
theachieved level of output, as well as to
carry out geological prospecting inthe
surrounding area adjacent to thedeposits.
Recently, Vice Prime Minister Serik
Akhmetov said that thegovernment
intends to mitigate administrative
barriers inthe area of solid minerals
extraction. What measures do you think
should be thepriority?
my opinion, theprimary measures
for mitigating administrative barriers
inthe area of solid minerals extraction are:
Improving thesystem of issuing relevant
licenses and permits. This requires
themaximum reduction inthe stages for

In

102

l 2012# 3l

Kazakhstan

getting a permit, and some stages should


be simplified into procedures for getting
relevant approvals with making relevant
amendments to themineral laws.
Optimization of inspections of private
enterprises. These inspections are carried
out as per theschedules approved by
theministry. These schedules are developed
for each semester, taking into account risk
assessment. Thus, thebusiness entities,
referred to thegroup of high risk, are
examined annually, with average risk
once every three years, and with minor
risk every five years. We should continue
this work further on.
Improving themineral production laws.
Amendments should made to thelaws inthe
part of simplification of granting rights
procedures. Inparticular, thelegislation
should provide for theallowable percentage
of underperformance or over-performance
of themining plan by 20%30% by mining
companies. This will allow not executing
theaddendum to thecontract every time
theproject approval procedure which now
takes a very long time. Moreover, itwould be
right to return to thepractice of approving
theamendments to themining plan by
theterritorial division of theCommittee
for Geology and Mineral Resources only,
and not to make changes to thetechnical
development projects every year, which also
pass through theprocedure of approval with
theconcerned government agencies, which
also takes time.

ores and other raw materials, also for


thechemical and petrochemical industries,
as well as for production of mineral
fertilizers. We are also looking forward
for implementation inour republic jointly
with Germany of infrastructure and social
projects.
Intheir turn, German companies are
mostly interested inthose our resources,
which are not under development yet. These
are theso-called rare-earth elements 17
metals, including scandium and dysprosium
used inthe manufacture of a wide range of
innovative products: from space stations
and medical scanners to mobile phones
and batteries for electric vehicles. Further
on, we have plans to carry out geological
exploration, to evaluate reserves, to start
drilling, extracting and processing. We
also draw attention to thedevelopment
of secondar y resources, as billions of
tons of them have piled up by now. These
dumps contain a lot of useful components,
especially rare metals, which are so needed
by high-tech industries inKazakhstan.
As you know, until now all thesearches
of access to rare metals and places of their
extraction have led to China, because
95% of all thedeposits of rare metals
under development are located inChina
(although, China accounts for just one third
of theworld reserves of these elements).
However, today we see a similar interest to
our country from major customers, such as
Japan, France, USA and others.

InFebruary of this year, as part of


theinitiative Mineral Resources
inExchange for Investment, Kazakhstan
and Germany signed a partnership
agreement inthe area of raw materials
and technologies. Could you provide
thedetails of this? Isthere similar work
with other countries?
ndeed, during thevisit of President of
Kazakhstan to theFederal Republic of
Germany, a bilateral intergovernmental
agreement onpar tnership inthe raw
materials, industrial and technological areas
was executed between thetwo countries.
Also, 50 commercial contracts, worth over
3 billion euros, were signed. So, we are
coming to a new level of long-term strategic
partnership.
Kazakhstan ispr imar ily interested
inbr inging German technologies to
Kazakhstan for processing of crude oil,
natural gas, iron ore, nonferrous metal

Russian experts urged Kazakhstan


to join efforts to develop ferroalloy
productions and steel industry. What
are theprospects of such cooperation
inthe light of creation of theSingle
Economic Space?
want to say that work inthis direction
isactually inprogress. Thus, theRussian
F e d er a t ion s Min is t r y of Re g ional
Development reviewed a draf t 2012
2017 Action Plan for Implementation
of theInter-Regional and Cross-Border
Cooperation Program between Russia
and Kazakhstan, proposed by our side.
Currently, as part of theaction program, we
are considering theissue of implementing
an investment project for setting up a
casting and mechanical production for
bulk manufacturing of components for
themechanical engineering industry and for
casting of ferrous and nonferrous metals by
application of up-to-date technologies.

mineral industry

Mineral Resources Exploitation 20002011:

Reserves, Production, and Investment

Mineral resources management and exploitation is the foundation


of the social and economic development of Kazakhstan and remains
one of the most attractive areas for investment. Total investment in
production of various minerals in the last 12 years exceeded $200
billion; however the intensive operation of the existing fields by the
mineral producers requires the strengthening of the role of the state
in advanced study of mineral resources.
104

l 2012# 3l

Kazakhstan

azakhstan isrichly endowed


w ith mineral resources;
this makes thecountry among
thetop world leaders interms
of this. Moreover, themineral
resources of Kazakhstan are
presented, mainly, by deposits
of hydrocarbons, uranium, nonferrous, ferrous, precious and rare
earth metals, thedevelopment of
which large foreign investment
isattracted.
Currently, more than 80% of
explored mineral reserves are
being developed by mineral
producers ona contract basis.
OnJanuary 1, 2012 thetotal
number of operating facilities
covered by monitor ing was
2 ,529. T his incl ude s 827
facilities of therepublican
level, including 243 engaged
inhydrocarbons production,
384 engaged insolid minerals
mining , and 200 engaged
ingroundwater production.
With this, theexploitation of
mineral resources iscarried out
at1,676 sites.
In20002011 total investment
inmineral production reached
$200.2 billion; of this, $18.1
billion was directed to conduct
geological exploration (Table 1).
Compared to 2000, theannual
volume of investment increased
by more than 5 times and totaled
$20.3 billion atthe end of 2011.
$1.5 billion, or 8% of thetotal
investment inthe mineral
and raw material sector was
directed to conduct geological
exploration (Chart 1).
In2011, theoil and gas
industry remained thepriority
sector for investment. Itwas
invested by approximately $13.8
billion, or 70% of all investment
inthe mineral and raw material
sector. Investment inthe mining
sector accounted for about $6.2
billion 30%), including $1,160.1
million incoal mining, $1,044.6
million inuranium mining,
$1,022 million inpolymetallic
ore mining, $824.9 million
incopper mining, $804.7 million
ingold mining, $785.8 million

inmining of iron ore, manganese,


etc. Itshould be noted that
inv e s t m en t ing e o l o g ic al
prospec t ing inthe mining
sector accounted for only 3% of
thetotal investment (Chart 2).
According to predic t ions
for 2012, following theend of
theyear thecapital investment
inthe mineral and raw material
sector islikely to reach $21.6
billion, including $1.6 billion
for carr ying out geological
exploration.
Investment ac t iv it ies of
themineral producers had
a pos it ive ef f ec t ont he
soc io - economic indicator s
inKazakhst an. Thus , over
thepast 12 years, they invested
$2.3 bn insocial development
and local inf rastruc ture
(incl uding $317.5 mil lion
in2011), $905.5 million ($162.6
million) intraining of specialists,
$308.1 million ($20.2 million)
inacquisition of technologies
(Char t 3). During this time,
thenumber of employed within
themineral and raw material
resources sector increased from
175 thousand people in2000 to
181 thousand in2011.
In20002011 themineral
p r o d u c e r s p a i d 1 3 , 8 4 4 .7
billion tenge as taxes and
other mandator y payment s
to thebudget of Kazakhstan.
Inthe last year alone, this
indicator was 3,653.6 billion
tenge, including 1,172.2 billion
(or 32% of thetotal amount of
taxes and mandatory payments
to budget) was paid as mineral
extraction tax, 908.6 billion
tenge (25%) as corporate income
tax, 39.6 billion tenge (1%) as
social security tax, 18 billion
(less than 1%) as VAT, 3.3 billion
(<1%) as bonuses, and 1,511.9
billion tenge as other taxes and
fees (Table 2).

Gold

old and gold deposits are


located in16 mining areas,
themost important of which are

theKalbinsky and Rudno-Altaisky


deposits inEast Kazakhstan
(Bak yrchik , Bol shev ik , and
Ridder-Sokol noe deposit s),
Kokshetausky and ZholymbetBestobinsky deposits inNorth
Kazakhstan (Vasilkovskoye,
Zholymbet etc.), Shu-Ilisky and
Jungarsky inSouth Kazakhstan
(Akbakai, Beskempir, Arharly,
etc.), and Maykainsky and North
Balkhash inCentral Kazakhstan
(Maykain, Boschekul , Sayak,
etc.), as well as Zhetygarinsky
and Mugojarsky inWestern
Kazakhstan (Komarovskoye,
Varvarinskoye, Jubileinoye, etc.).
Today, mineral production of
gold isbeing carried out at119
sites; of them, gold isbeing
mined at39 sites, exploration
isbeing carried out at30 sites,
and combined exploration and
mining at50 sites. In20002011,
over 400 tons of gold was mined
inKazakhstan, an increase by
about 600 tons. Total investment
for this period reached $4.3
billion (an increase by 13 times);
of this, $0.4 billion was directed
to carry out exploration. Some
85% of this amount was mined
by companies such as Kazzinc
(25% was invested inmining of
gold in2011), Mining and Metals
Concern Kazakhaltyn (13%), JSC
Varvarinskoye (13%), JSC FIC
Alel (9%), LLP Bakyrchikskoe
Mining Company (9%), LLP Metal
Trading (5%), LLP Jubileinoye
(3%), DTOO Mining Enterprise
Sekisovskoe (3%), LLP JV Saga
Creek Gold Company (2%), and
JSC Maikainzoloto (2%).

Copper

hegreater portion of copper


reserves and copper-bearing
beds recorded inthe state
balance sheets are concentrated
inEast and Central Kazakhstan.
A number of pyrite-polymetallic
deposits ineastern Kazakhstan
(Ar t emy ev sko e , Kosmur un ,
Akbastau, etc.) are thereserve for
theenlargement of themineral
and raw material base.

Theporphyry copper deposit


Nurkazgan, bearing high quality
ores, inCentral Kazakhstan,
and one of thelargest deposits
inthe country Zhaman-Aibat
inthe Zhezkazgan mining
area were put into operation.
TheAktogai and Bozshakol
porphyr y copper deposit s,
where theconstruction of
ore dressing and processing
facilities isin progress, and
theAydarly and Koksai deposits
have considerable potential.
Atthe present moment ,
mineral production of copper
isbeing carried out at40 sites;
of them, mining isin progress
at14 sites, exploration at8
sites, and combined exploration
and mining at18 sites. In2000
2011, more than 6 million tons of
copper was mined inKazakhstan,
an increase of about 4 million
tons. Total investment during
this period increased threefold,
reaching $4.7 billion; of them,
$110.4 million was allocated
for geological exploration. All
capital investments in2011 were
made by Kazakhmys Corporation
(81%), LLP Copper Technology
(14%), LLP KazCooper (2%), LLP
TheAktobe Copper Company
(1%), and LLP GRK MLD, LLP
KazGeorud LLP, Koksai-Muzbel,
LLP Tarutinskoye, and LLP Fonet
Er-Tai AK Mining.

Polymetals:
lead, zinc

To

develop theSMEs
engaged inpolymetallic
ore mining, thelarge deposit
Shalkiya inSouth Kazakhstan
will be under development
inthe coming years. Onthis
basis, a new zinc plant will be
constructed. Theconstruction
of mines onthe basis of mining
deposits Novoleninogorskoe,
Dolinnoye, and Obruchevskoye
inEast Kazakhstan iscurrently
inprogress. An ore dressing and
processing enterprise operates
onthe basis of theproven
chalcopyr ite deposits with

Kazakhstan 2012# 3

105

mineral industry
LLP ER-TAY, LLP ORPEK Mineral
Resources, Multiplex Resources,
LLP Shalk iyaZinc , and JSC
Zhairemskiy ore dressing and
processing plant isminor (less
than 1%).

thename 50 Years of October,


Kundyzdy, Priorskoe, and others,
where thesetting up of mining
and metal facilities are planned.
Ingeneral, mineral production
of polymetallic ore isbeing
carries out at33 sites; of them,
mining isbeing carried out at19
sites, exploration at2 sites,
and combined exploration and
mining at12 sites. Over thepast
12 years 1.3 million tons of
lead and 7 million tons of zinc
were produced inKazakhstan,
an increase of 0.7 million tons
and 1 million tons, respectively.
Total investment inpolymetallic
ore mining during this period
reached $6.6 billion; of this,
just $98.1 million was allocated
for exploration. Based onthe
2011 year results, thecapital
investment in2011 increased
f ivefold, compared to 2000,
to $1,022 million, including
$19.1 million for exploration.
Among thelargest investors,
there are such companies as
Kazzinc (71%), Kazakhmys
Corporation (22%) and LLP
Nova-Zinc (5%), theproportion
of theothers JSC Shaimerden,

Bauxite

hereser ves of hard-toprocess bauxite of theEast


To r g a i b a u x i t e - b e a r i n g
region (Krasnooktyabrskoye,
Ayatskoe, and other deposits)
form thebasis for theSMEs of
thealuminum industry. Earlier,
this hard-to-process bauxite
was considered unsuit able
for product ion of alumina,
but with theintroduction of
new technology developed by
thePavlodar aluminum plant,
theconditions for production of
alumina from low-grade bauxite
were created. Theprospects
for development of theraw
materials industry today are
associated primarily with noncustomary types of alumina raw
material. Nepheline-leucite and
nepheline rocks, also alunite
secondary quartzites, widely

found inthe republic, can be of


practical interest.
Currently, mineral production
of bauxite isbeing carr ied
out atf ive sites; of them,
mining isbeing carried out
at3 sites, exploration atone
site, and combined exploration
and mining atthe other site.
Over thetwelve-year period,
Kazakhstan produced almost
55 million tons of bauxite, an
increase of just 0.7 million
tons inthe bauxite reserves
(there wasnt any growth atall
from 2000 through 2007.) Total
investment within theperiod
of 20002011 exceeded $1
billion; of this, $14.1 million
was directed for exploration.
Inthe last year alone, $135.8
million was invested that
is4 times more than in2000.
Theentire investments were
made by thesubdivisions of
JSC Aluminum of Kazakhstan
KBRU (84%) and TBRU (16%).

Iron and manganese

heRepublic has enormous


resources of iron ore, about

Chart 2.

Investments and mineral production in 20002011, $ million

Mineral producer expenses for social projects, training of personnel, and


buying technologies in 20002011, $ million

130.1

162.6

287.0

314.4
127.9

213.9

216.7

73.9

63.4

6,848.7

52.3

87.4
43.3

62.5
19.3

20.2

2011

13.7

2010

9.4

2009

20.7

2008

45.1

2007

78.0

2006

22.0

2005

46.8

2004

2003

22.7

23.2
19.9

2002

16.7

2001

3.8

2000

1,644.1
forecast

2012

1,549.9

2011

1,708.8

2010

1,587.3

2009

2008

2,054.7

12.4

100

69.7

91.6

19,928.7

18,748.8

20,481.9

19,788.8

20,212.0

15,851.4
1,913.3

2007

12,888.6
1,623.8

2006

10,458.6

1,488.2 7,662.0

2,188.3

2005

2003

939.2 5,909.5

200

2004

6,092.8
839.2 5,253.6

2002

4,746.7

Kazakhstan

69.1

195.8
138.6

9,150.2

l 2012# 3l

2001

2000

738.2 4,008.5

4,043.1
300.1 3,743.0

5,000

135.4

14,512.4

4,000

300
10,000

334.2

20,298.8

5,000

12,646.9

15,000

Expenses for social projects


Expenses for training of specialists
Expenses for buying technologies

21,572.8

22,190.7

6,000

17,764.7

20,000

21,376.1

22,266.7

Geological exploration costs


Other investments
Total

317.5

Chart 1.

25,000

106

90% of which isconcentrated


inthe Torgai region of North
Kazakhstan. Iron ismainly mined
atthe Sokolovsky, Sarbaisky,
and Kacharsky iron ore deposits
and other skarn-magnet ite
ore deposits, as well as atthe
Lisakovsky brown ironstone
deposit.
Product s of theiron ore
industr y (ore concentrates
and pellets) are supplied to
theKaraganda Metallurgical
Combine and insmall bulk to
theAksu Ferroalloy Plant and
Ak tobe Fer rochrome plant.
Al so, they are expor ted to
Russia and China. Theexplored
iron ore reser ves allow
ensuring a substantial increase
inproduc t ion of iron ore
products; however, thelimiting
factor here isthe problem of
marketing theproducts.
With regard to manganese,
all of its commercial reserves
are concentrated inCentral
Kazakhstan and are presented
b y ox ide and c ar b ona t e silicate-oxide ores (Ushkatyn
III and West Karazhal deposits,
etc.). Five mining companies

Table 1. Investment in the Kazakh raw material sector 20002011, $ million


Polimetals

Coal

Iron,
Copper manganese

2000
Geological
exploration costs
Other investments

0.4

0.73

0.02

0.03

213.5

223.87

30.58

Total

213.9

224.6

30.6

2001
Geological
exploration costs
Other investments

Aluminium Nickel,
Uranium (bauxicobalt
tes)

Chromites

Gold

10.4

0.09

0.02

0.37

50.2

155.71

0.4

60.6

155.8

Total
Oil,
Underon solid gas and Widely
spread ground
mine- conden- minerals
waters
rals
sate

Other
minerals

0.2

2.1

13.0

285.1

52.28

31.6

174.8

42.7

975.6

2,705.6

52.3

31.6

175

44.8

989.6

2,990.7

TOTAL

0.3

300.06

30.6

31.2

3,743.04

31.3

31.5

4,043.1

0.7

0.3

1.9

0.7

0.3

0.7

0.1

3.8

15.8

721.4

0.8

0.2

738.2

206

285.8

44.8

0.01

57

186.4

56.7

37.3

240.9

38.1

1,153.01

2,771.3

42.3

41.9

4,008.51

287.7

44.8

0.01

65

187.1

57

38

241

41.9 1,168.81

3,492.7

43.1

42.1

4,746.71

Total

206.3

2002
Geological
exploration costs
Other investments

0.01

2.2

6.1

0.2

3.2

0.05

13.76

823.2

1.2

839.16

176.6

304.7

32.5

0.5

72.7

188.7

46.7

42.8

275.35

29.1

1,169.74

3,986.9

55.3

41.7

5,253.64

Total

176.7

306.9

32.5

0.5

78.8

189.7

46.9

46

275.4

30.1

1,183.5

4,810.1

56.5

42.7

6,092.8

1.6

2.8

11.8

1.8

0.2

2.9

0.1

1.2

22.4

911.1

2.1

3.6

939.2

2003
Geological
exploration costs
Other investments

209.2

315

47.5

0.6

98.3

225.7

65.3

41

303.8

47.3

1,353.7

4,435.7

76.9

43.2

5,909.5

Total

210.8

317.8

47.5

0.6

110.1

227.5

65.5

43.9

303.9

48.5

1,376.1

5,346.8

79

46.8

6,848.7

2004
Geological
exploration costs
Other investments

1.8

0.4

1.9

3.9

15.3

0.2

0.8

1.8

3.6

29.7

1,451.6

2.1

1,488.4

372.9

363.7

259.6

331.9

135.8

88.4

63.2

50.9

2.7

57.4

1,726.5

5,797.2

92.5

45.6

7,661.8

Total

374.7

364.1

261.5

335.8

151.1

88.6

64

50.9

4.5

61

1,756.2

7,248.8

94.6

50.6

9,150.2

2005
Geological
exploration costs
Other investments

2.8

0.4

2.3

2.4

22.6

3.3

6.5

3.4

4.3

48

2,136.7

3.3

0.4

2,188.4

460.2

374

481

409.2

190.9

102.6

162.6

63.7

5.2

64.7

2,314.1

7,954.1

149.9

40.3

10,458.4

463

374.4

483.3

411.6

213.5

105.9

169.1

63.7

8.6

69

2,362.1 10,090.8

153.2

40.7

12,646.8

4.1

0.3

2.2

4.8

33.5

7.3

11.1

3.1

10.2

76.62

1,540.8

5.9

0.4

1,623.8

91.0

3,051.89

9,556.2

205.2

75.2 12,888.59

101.2 3,128.51 11,097.02

211.1

75.7

14,512.35

11.8

1.9

1,913.04

Total
2006
Geological
exploration costs
Other investments
Total

597.4

428.3

499.2

523.9

277.5

146.5

399.0

88.9

0.3

601.5

428.7

501.4

528.8

310.9

153.8

410.1

88.9

3.4

14.5

4.8

44

6.8

33.9

0.1

7.4

2007
Geological
exploration costs
Other investments

15.5

0.6

793.3

572.4

532

738.9

488.1

166.9

657.3

116.8

2.4

Total

808.8

573

546.5

743.7

532.1

173.7

691.2

116.9

9.8

2008
Geological
exploration costs
Other investments

14.4

142

1,757.3

144.5

4,212.57

11,253.2

314.5

71.5

15,851.78

158.87 4,354.57 13,010.5

326.39

73.37

17,764.83

22.3

0.5

23.6

11.4

60.3

1.1

56.4

1.0

3.0

14.1

1,844.40

1.2

15.6

2,055

1,022.7

935.8

648.3

1,000.4

550

237.7

857.0

153.1

45.4

189.4

5,639.97 14,163.63

79.1

329

20,211.70

Total

1,045

936.3

672

1,011.8

610.4

238.8

913.4

154.1

48.4

203.5 5,833.76 16,008.03

80.3

344.6

22,266.7

2009
Geological
exploration costs
Other investments

6.9

1.7

12.0

18.2

38.3

1.0

79.4

1.3

1.0

9.4

1,403.5

9.9

5.1

1,587

655.6

784.1

519.7

544.8

668

164.5

876.2

119.3

6.8

148.2

4,486.87 15,040.05

192.9

69

19,788.73

Total

662

785.7

532

563.1

706.0

165.5

955.6

120.6

7.6

157.6 4,655.75 16,443.51

202.8

74.0

21,376.1

2010
Geological
exploration costs
Other investments

23.3

19.4

20.4

7.3

55.8

0.8

73.7

0.8

0.4

11.8

1.3

1,708.8

826.3

893.9

729.3

690.9

594.4

235.1

835.1

122.2

1.2

Total

849.5

913.2

749.6

698.2

650.2

236.0

908.8

123.0

1.7

2011
Geological
exploration costs
Other investments
Total
20102011
Geological
exploration costs
Other investments
Total

5.8

193.79

168.87

207.7

1,488.0

121.2

5,049.6

15,196.8

186.9

48.6

20,481.9

127.0

5,257.3 16,684.8

198.7

49.9

22,190.7

19.1

0.5

33.5

8.0

69.6

1.1

59.8

4.1

0.5

9.6

205.78

1,335.7

4.9

3.5

1,549.9

1,002.9

1,159.6

791.4

777.8

735.1

277.9

984.8

131.7

0.7

128.8

5,990.8

12,462.6

235.6

59.8

18,748.8

1,022.0

1,160.1

824.9

785.8

804.7

279.0

1,044.6

135.8

1.2

138.4

6,196.6 13,798.3

240.6

63.3

20,298.8

15,698.7

55.8

38.3

18,069.7

37,124.4 105,323.4

1,661.8

896.8

182,130.9

1,181.9 38,262.8 121,022.1

1,717.7

935.2 200,200.6

98.1

31.4

110.4

60.9

375.6

25.2

322.3

14.1

20.8

79.5

6,536.7

6,641.1

4,615.9

5,019.4

3,917.8

2,176.1

5,056.2

999.3

1,059.6

1,102.4

6,634.7

6,672.6

4,726.3

5,080.3

4,293.4

2,201.3

5,378.5

1,013.4

1,080.4

1,138.4

Kazakhstan 2012# 3

107

mineral industry
Chart 3.

Allocation of investments by type of mineral resources in 2011, $ million ($20,298.9 million in total)
68%

1,160.1

30%

1,044.9
1,022
824.9
Coal
Uranium
Polymetals
Copper
Gold
Iron, manganese
Chromites
Bauxites
Other minerals

804.5
785.8
1%

279
135.8

<1%

138.4
Raw hydrocarbons 13,798.3
Solid minerals 6,196.9

Common minerals 40.6


Underground waters 63.3

located inthe Karaganda region


operate inthe manganese ore
industry today.
Mineral production of iron
and manganese iscarried out
at42 sites; of them, mining
inin progress at16 sites,
exploration at10 sites, and
combined e xplor at ion and
mining atthe rest 16 sites.
In20002011, 449 million tons
of iron and 30 million tons
of manganese were produced
inKazakhstan; an increase
inthe reserves amounted to
1,702 million tons and 66 million
tons, respectively. Over this
period, $5.1 billion was invested
inthe industr y, including
$60 million inexploration.
In2011, investments totaled
$785.6 million. Practically, all
theinvestments were made by
major companies, such as JSC
SSGPO (67%), JSC Zhairemskiy
ore dressing and processing
combine (14%), LLP Orken (9%),
JSC TNC Kazchrome (4%) and LLP
Arman-100 (1%). Less than 1%

was invested by LLP Bapy Mining,


LLP Vertex Holding, JSC Temirtau
Electrometallurgical Combine,
LLP Aktobe-Temir-VS and LLP
Shakhta Zapadnaya.

Chromite

azakhst an isthe world


leader interms of chromite
r e s er v e s . T h e s e chr om i t e
reserves are characterized by
high quality of ore (4550%
of chromium oxide) and are
bedded ona relatively small
area within theKempirsaysky
dunite-periodit mass inWest
Kazakhstan (Millionnoye and
Almaz-Zhemchuzhina deposits,
etc.). Thetransnational company
Kazchrome engages inmining
and dressing of chromite ore;
one of its divisions deals with
ferroalloy production.
Mineral production of chromite
isbeing carried out at9 sites.
Each of them isat thephase
of mining operations. Over
thepast 12 years, Kazakhstan

produced 41 million tons of


chromite, an increase of about
1 million tons. Investments
for this period totaled $2.2
billion, including $20 million for
geological exploration. In2011,
investments inthe sector totaled
$279 million, which istwice
more than in2000. Along with
JSC TNC Kazchrome (76%), a
major investor of theindustry
was LLP Voskhod-Oriel (26%).

Uranium

hemain uranium reserves are


concentrated inhydrogenic
deposits of South Kazakhstan
(Mynkuduk, Karamurun, etc.).
Inferred resources are almost
equal to thereserves recorder
inthe state balance sheets.
They are concentrated mainly
inthe uranium-bear ing
provinces of South Kazakhstan.
As of April 1, 2012, mineral
production of uranium was
carried out at25 sites; of them,
mining operations are inprogress

at12 sites, exploration atone


site, and combined exploration
and mining atthe other 12.
In20002011, 88 thousand
tons of uranium was produced
inKazakhstan, recording an
increase of 111 thousand tons.
Total investment for this period
amounted to $5.4 billion,
including $300 million, directed
for geological prospecting.
Talking about thelast years
per formance indicators,
theamount of investment
reache d $1 , 0 4 4.6 mil lion ,
including $60 million allocated
for geological exploration. Itis of
note that all theuranium mining
and processing companies are
united into NAC Kazatomproms
structure; thelatter comprises
also themetal works for deep
processing of uranium ore.

Coal

hegreat er por t ion of


t hecoal re s er ve s are
distributed within thef ive

Table 2. The structure of taxes and mandatory payments by the mineral producers in 20002011, in billion tenge
Corporate
Income Tax
VAT
Social Tax
Mineral Extraction Tax
Bonuses
Other taxes
Total

108

l 2012# 3l

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

53.5

96.1

100.3

129.9

246.3

395.9

528.7

639.0

876.0

449.5

614.7

908.6

15.6
15.2
13.5
0.7
30.9
129.4

0
16.7
44.1
1.7
42.7
201.4

0
16.1
44.5
2.2
42.8
205.8

3.8
19.4
73.3
3.0
46.7
276.1

1.1
23.0
104.3
60.0
69.1
503.8

20.7
24.1
175.7
11.7
139.9
767.9

0.4
27.1
279.8
8.0
245.4
1,089.4

14.5
31.2
217.3
32.9
276.6
1,211.4

36.1
34.9
401.1
11.0
481.5
1,840.6

16.5
28.4
482.5
43.8
578.2
1,598.9

13.9
34.5
933.9
3.0
766.3
2,366.2

18.0
39.6
1,172.2
3.3
1,511.9
3,653.6

Kazakhstan

major coal-bearing provinces


inCentral and North Kazakhstan
(Karaganda, Ekibastuz, etc.).
These provinces comprise more
than 300 coal deposits and coal
occurrences of different age
and grade composition.
Mineral production of coal
isbeing carr ied out at39
sites; of them, coal mining
isin progress at31 sites, and
combined e xplor at ion and
mining at8 sites. Over thepast
12 years Kazakhstan produced
9,438 million tons of coal, an
increase by 103 million tons.
During this period $6.7 billion
was invested total, including $30
million inexploration. Compared
to 2000, investments incoal
production in2011 increased
5-fold to $1.2 billion, while
investments inexploration were
just $0.5 million. Thegreater
por tion of investment were
made by large companies, such
as Coal Depar tment of JSC
ArcelorMittalTemirtau (37%),
Bogat y r Komir (17%), JSC
Eurasian Energy Corporation
(15%), LLP Angrensor (4%),
Kazakhmys Corporation (4%),
JSC Shubarkol Komir (6%), LLP
Karazhyra Ltd (3%), LLP Maikuben

West (3%), LLP Saryarka-ENERGY


(2%), and LLP Gamma (2%).

Geological
prospecting
Since t h ein t r o duc t ion
of a contract system inthe
area of mineral production,
thebudget ar y allocat ions
for geological explorat ion
inKazakhstan have sharply
decreased. As a result ,
t h ein c r e a s e inm in e r a l
reserves inrecent years by
themain t ypes of mineral
raw mater ial s was mainly
due to private investments
ingeological exploration. With
this, thecurrent day reveals
a shortage inreplenishment
of theminerals reserves by
a number of pr ior ity types
of minerals that will shorten
theperiod of time inthe future
during which thestocks of
theminerals will be available for
supply to themetals & mining
and oil & gas industries.
Inview of that, theConcept
of Development of Geology
inKazakhstan till 2030 was
developed, which aims to address
some critical issues that include:

Low level of advanced


geological study due to lack of
funding from thestate;
Thetrend that mining
iscarried out atbigger depths
and prospec t ive deposit s
become more remote;
Critical decrease inavaila
bility of mineral reserves of
thebackbone enterprises of
thenonferrous metallurgy;
Poor development of
ge ol og ic al inf r a s t r uc t ur e
and thelack of cer t if ied
laboratories, also thedecline
of applied science;
Insufficient control over
theefficient and integrated
use of mineral resources due
to thelow number of personnel
and poor condition of provision
of thestate geological service
with technical equipment and
materials;
Lack of professionals;
Imperfection of thelaws
and regul ator y f ramework
inthe area of geology and
mineral resources.
JSC Kazgeologiya, set up under
Resolution of theGovernment
No.684 of June 21, 2011,
isseen to play an important
role insolving these problems.

Thescope of act iv it ies of


thesaid company involves:
Replenishment of mineral
resources of thecountry;
Participation in implemen
tation of thegeneral state
policy inthe area of geological
exploration;
Carrying out geological
prospecting to discover minerals,
including t hesearch and
evaluation of mineral deposits;
Development and intro
duc t ion of new high-tech
and ef f icient technologies
ingeology;
Storage, processing and
systematization of thedatabank
of geological information;
Ef fec t ive management
of thestakes (participating
interests) of theenterprises of
thegeological industry owned
by thecompany.
Elvira Djanturaeva, PhD,
Head of Mineral Production
Results Analysis, RCGI
Kazgeoinform Geology and
Subsurface Use Committee
under theRK Ministry
of Industry and New
Technologies

Magazine
for capitans
of the economy

official magazine of '2012

www.investkz.com

Strengthening a Leading Position


Iteca, the international exhibitions company, is the organiser of the AMM congress.
Yuri Borodikhin, Itecas General Director, told us a little about the event.

irst of all, ina move proposed by


theMinistry of Industries and New
Technologies of Kazakhstan, several
industry events were combined to form
theKazakhstan Mining and Metallurgy
Days. One of these events isthe Astana
Mining and Metallurgy Congress, which
has already established itself as a major
platform for discussing thechallenges of
themining and metallurgy industry and
theopportunities for cooperation within it.
On5 June, the3rd Congress of Workers
of theMining and Metallurgy Industry
inKazakhstan will take place, backed by
theAssociation of Mining and Metallurgy
Enterprises of Kazakhstan, featuring onits
agenda key issues such as modernisation,
thedevelopment of local content, job
creation, social partnerships, and human
resources.
This year, Astana Mining and Metallurgy
will cover topics relating to thefull
production cycle from exploration,
extraction and processing to manufacturing
thef inished product. Theprogramme
issplit into sessions for geologists, miners
and metallurgists, which will feature over
20 speakers from Kazakhstan, Australia,
Canada, Turkey, theUK, Belgium and
Russia. An exhibition will also run as
part of thecongress, promoting domestic
producers, companies and scientific circles.
This ishow theKazakhstan Mining and
Metallurgy Days will bring thewhole mining
and metallurgy community to one largescale event an event that will promote
growth inthe sector and theeconomy as
a whole.
What kind of innovative solutions will
there be atthe event this year?
have done a lot inthis area. One
of our primary objectives isto put
innovation inthe spotlight, and with this
inmind we are organising theInnovation
inthe Mining and Metallurgy Industry of
Kazakhstan and theHuman Resources
inthe Mining and Metallurgy Industry
of Kazakhstan round tables. TheGolden
Hephaestus industry competition will also

We

110

l 2012# 3l

Kazakhstan

MiningWorld Central Asia, onthe other


hand, isa business-to-business event
with a leading position inthe Central
Asian market, addressing topics such as
mining, metallurgy, industrial construction
and municipal vehicles. 291 exhibitors
from Kazakhstan and 27 other countries
were atthe event in2011, along with
3,104 visitors. Throughout its history,
senior managers and high-level industry
professionals have taken part.
Inthis way, AMM and MiningWorld Central
Asia are two public-private dialogue formats
for themining and metallurgy industry, just
as KAZENERGY and KIOGE are for theoil and
gas industry. Both events have a strong
profile and reputation, domestically and
internationally.
contain an Innovation Leader of theYear
category.
Another main aim of AMM isto establish
Kazakhstan as a leader inthe region and
to enhance thedevelopment of industrial
processing inthe mining and metallurgical
industry, which explains themain theme of
theevent being Exploration, Extraction,
Processing.
Organising an exhibition and conference
for dialogue between business, Government,
and sc ience isour contr ibut ion to
achieving national industrial development
programmes.
Iteca organises another mining and
metallurgy event MiningWorld
Central Asia, an autumn exhibition held
inAlmaty. How do theevents differ?
stana Mining and Metallurgy congress
isan exhibition event which focuses
mainly onthe conference angle, and itis
an event with an international resonance.
Ever since its launch, AMM has been an
international exhibition with Governmentlevel support, where issues concerning
theglobal mining and metallurgical industry
have been up for discussion along with
prospects for cross-border cooperation and
ways of integrating Kazakhstan with other
mining countries.

Iteca isa partner of ITE Group plc, a


global leader inthe exhibitions market.
What are theprinciples of ITEs strategy
and its partnership with Iteca?
isan international group of
companies and agencies that
organise exhibitions and conferences around
theworld 211 events in2011 alone. ITE has
a strong position as theleading organiser of
exhibitions inRussia and Central Asia.
Iteca has worked closely with ITE for
over 20 years. For example, our German,
Swiss and Austrian exhibitors work with
GiMA, ITEs office inHamburg, and there
are also ITE offices inLondon, Istanbul,
Moscow, and many other offices inAsia
and Europe. By promoting thepotential
of our region throughout theworld, this
kind of collaboration brings international
companies to our events.
Achieving strong, sustainable growth isa
complex process which requires cohesion and
thepooling of thestrength of Government
bodies, business circles and themedia.
Inthis regard, international experience of
holding trade shows really does prove its
worth. These are theevents that will act
as platforms for ideas to be exchanged,
helping to launch new investment projects
and create new companies and production
facilities.

ITE

Kazakhstan 2012# 3

111