Over US$2 billion allocated for modernization of mining and metallurgical complex in 2021

In depth processing of domestic raw materials and production of products with high added value are key priorities of the mining and metallurgical industry. The transition from a commodity-based model to a manufacturing one will enhance the competitiveness and exports of Kazakh products, said Vice Minister of Industry and Infrastructure Development Adilbek Sarsembayev at a specialized congress in Nur-Sultan. According to him, digitalization will allow achieving high productivity. In particular, digital transformation, adaptation to rapidly changing living conditions and monitoring of production processes using artificial intelligence. Already this year, over one trillion tenge (US$2.3 billion) has been allocated for projects on opening and modernization of new production facilities in the mining and metallurgical complex. Special attention will be paid to resource-saving policies and to achieving the country’s carbon neutrality.

“In order to preserve solid minerals for future generations, today it is necessary to apply the latest technologies for the most complete extraction of useful raw materials at the lowest energy costs and strive to reduce greenhouse gas emissions by switching to environmentally friendly alternative energy sources. The protection and preservation of the environment is an important prerequisite for the future sustainable development of the industrial economy. To that end, a balance must now be struck between the implementation of economic growth policies and a green economy,” Sarsembayev said.

The mining and metallurgical complex is the driving force of the economy of Kazakhstan. It accounts for over 8 percent of the country’s GDP and 24 percent of national exports.

Translation by Assem Zhanmukhanova

Editing by Galiya Khassenkhanova