Dear Members and Partners,
The Kazakhstan Chamber of Mines is pleased to inform and invite all Members and Partners to the Session on "Development of Kazakhstani Content in Subsoil Use: Experience and Strategies." which will be held as part of the 14th MINEX Kazakhstan Mining and Exploration Forum on April 18th, 2024, in Astana.
The MINEX Forum program is available here: https://2024.minexkazakhstan.com/ru/vsya-programma/
Kazakhstan's mining sector is advancing its focus on local content, in line with the nation's Code "On Subsoil and Subsoil Use," which mandates a minimum of 50% local workforce employment by license holders for subsoil use. This is complemented by the Law "On Industrial Policy," aiming to boost local content to 60% in regulated procurement. The industry is shifting towards long-term partnerships, favouring off-take contracts and agreements, a strategy that aims to mitigate supply chain disruptions. Additionally, there's an expectation of a 40% increase in participation by local medium and small manufacturing enterprises due to the localisation of products used by subsoil operators. This evolving landscape necessitates the development of financing practices tailored to off-take contracts, presenting a new challenge for mining companies, financial institutions, and the government. The key question remains: are these entities prepared to adapt to and support this changing dynamic, ensuring sustainable growth and enhanced local participation in the sector?
