Kazakhstan joins World Bank's Metals and Minerals Compact initiative

Kazakhstan has become the first Central Asian country to join the World Bank Group's Metals and Minerals Compact initiative. The formal procedure took place on October 16 in Thailand, on the sidelines of the World Bank and International Monetary Fund meetings. Kazakhstan was represented by Yerlan Galiyev, chairman of the board of the National Geological Service JSC, which falls under the Ministry of Industry and Construction, according to primeminister.kz.

The Compact was developed by the Ministry of Industry and Construction and the Agency for Strategic Planning and Reforms together with the World Bank. It sets out priorities for 2026–2030 and aims to attract about $20 billion in investment into the mining and metallurgy complex by 2031. Cooperation will proceed in three areas: state policy and regulation; geological exploration, infrastructure and human capital; and attracting private investment in mineral extraction and deep processing.

Industry and Construction Minister Yersain Nagaspayev said Kazakhstan follows principles of responsible and sustainable development and hopes the partnership will strengthen the sector's competitiveness. In 2024–2025, the country's mineral resource base was supplemented by 54 new deposits. By the end of 2026, the area covered by geological and geophysical surveys is planned to reach 2.2 million square kilometres.