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Kazakhstan’s work on CRIRSCO standards to attract significant investment in the sphere of subsoil use: Zh.Kassymbek

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“Kazakhstan’s accession to the “family CRIRSCO is a big step in the confirmation of the presence of minerals in the country, confirmation of reserves, the information that we have today. Work on CRIRSCO standards enables Kazakhstan to make a database that is on the international stock exchanges on mineral resources, reliable. Kazakhstan’s work for foreign investors as part of CRIRSCO system is guaranteed proof of this information. Therefore, we expect that the work of the CRIRSCO give an impetus to attract foreign investors,” Zh. Kassymbek said.

The Minister noted that nearly 60% of investments that have been involved over the years of independence, were sent to the subsoil sector, oil and gas, mining and metallurgical industry. Accordingly, the work of raising standards in these areas will help to attract more investment, which, in turn, will affect the growth of the industry.

International standards of public accountability of CRIRSCO are recognized by virtually all the world’s stock exchanges and banks, subsoil users which allows them to attract investment in projects of exploration and mining of solid minerals. Today, more than 80% of the global volume of investment in the use of mineral resources is involved by the companies that apply CRIRSCO reporting standards.

Source: The Prime Minister of Kazakhstan

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