June 08, 2017
The Ritz-Carlton
Astana
Numerous meetings of Tau-Ken Samruk NMC, JSC CEO M.Turmagambetov and Samruk-Kazyna, JSC CEO U.Shukeyev have been held with China’s GENERTEC Holding represented by its President Li Dan under the Fourth Kazakhstan-China Business Council (KCBC).
Key issues on Construction of Massalsky Mining and Metallurgical Facility in Akmola region have been discussed.
Reference. Massalky Deposit is located in Zharkain district, Akmola region. Its reserves were evaluated based on both JORC and RK State Reserves Committee classification standards. The total proven C1 and C2 category ore reserves are 729,727, 155 tons with 15.82% average iron content.
According to the Resolution of the Government of the Republic of Kazakhstan the Deposit is classified as strategic, and its development is included in the Comprehensive Mining and Metals Development Plant 2014 – 2018.
To recap, during visit of President Nursultan Nazarbayev to China, agreements on several key aspects were reached, including construction of mining and metallurgical facility and its further financing.
KCBC meeting has effectively boosted development of Kazakh-Chinese relations. 22 agreements with a total amount of some 7 billion dollars have been signed on its platform. According to RK Minister for Investments and Development Zh.Kasymbek, China is a strategic partner for Kazakhstan. In 2016, trade turnover between the two countries achieved 7.9 billion dollars.