NEW YORK, NY, August 19, 2011 /24-7PressRelease/ -- Kazakhstan, strategically placed between China and Russia, has a wealth of mineral riches which it is eager to profit from. While Kazakhstan is probably best known for its oil, changes are on the horizon as mining companies flow in searching for copper, gold, zinc and other natural resources.
While British and Swiss concerns continue to enter the country to pen mining deals, no less a player than industry giant Rio Tinto has taken notice, and has already signed an agreement with state-owned Tau-Ken Samruk to form a joint mining venture. This would seem to signal a sure reversal to the country's previous cuts in mineral exploration investment.
Geologists believe that Kazakhstan possesses at least 4 percent of the planet's gold reserves. The government is well aware of this, and has upped gold production by nearly 30 percent over the last two years. "Not only does Kazakhstan have vast expanses of under-utilized land, but its close proximity to economic giant China affords the country a plethora of opportunities," said GCM Worldwide's Andrew Clearey. "This is a country with almost unlimited untapped growth potential, particularly with the current scarcity of mineral resources, something that Kazakhstan seems to have, in spades. The country's GDP is already up two percent, thanks primarily to the massive rise in commodity prices, particularly gold and copper. The Kazakhstan government seems to have finally taken notice of this fact, enacting policies that make it much easier for large foreign mining companies to explore and excavate within their borders. It's no surprise, then, that international mining concerns are looking to Kazakhstan for expansion."
Clearey was quick to point out that, "While Rio Tinto may be the biggest name making a play for the country's resources, they are by no means the only player. Other firms, including Frontier Mining, Central Asia Metals, Glencore International, Hambleton Mining and, of course, Max Petroleum are all set to make major moves into Kazakhstan. Given the sheer quantity of resources at stake, we here at GCM are keeping a very close eye on all of these companies. There's a lot of money to be made in Kazakhstan right now, the question is, who will get there first?"
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