Kazakhstan to Auction 26 Metal Deposits

The Ministry of Industry and Construction announced an electronic auction for 26 Kazakhstani deposits that contain reserves of gold, silver, lead, zinc, and other solid minerals, Orda.kz reports.

Applications for participation in the auction will be accepted until January 15, 2025, and the electronic auction will be on January 29, 2025, on the web portal of the state property registry e-qazyna.kz.

The Ministry of Industry and Trade assured that after the auction, the protocols with the auction results for each deposit will be published on the ministry's official website. The names of the winning companies and the final amounts of the signature bonuses will be indicated on the website.

The Ministry of Industry and Construction added that potential buyers must meet additional obligations if deposits with rare earth metals are auctioned.

According to the requirements, investors must process and produce metallurgical products at their facilities or build a plant in Kazakhstan.

Additional obligations act as a guarantee of processing rare earth metals within the country, and not just mining and exporting ore abroad,
 The Ministry of Industry and Trade noted.

The department added that if the auction winner fails to pay the final amount of the signature bonus, priority will pass to the next participant.

Original Author: Rimma Karatayeva