Kazakhstan Joins World Bank Metals and Minerals Compact, Targets $20 Billion

Kazakhstan has become the first country in Central Asia to join the World Bank Group's global Metals and Minerals Compact initiative. As reported by Trend from Baku on October 19, the strategy was developed by the Ministry of Industry and Construction and the Agency for Strategic Planning and Reforms in cooperation with the World Bank and aims to help mobilize around $20 billion in investment by 2031. Mining remains the largest single block of Kazakhstan's industry: industrial output in January–September 2026 totaled 51.9 trillion tenge, while mining and quarrying, which includes oil and gas, accounted for 24.4 trillion tenge, or 46.9%.

The article notes that economic returns from mineral resources depend not only on extraction volumes but also on how much raw material is processed domestically. Investment requires reliable energy, transport infrastructure, skilled workers, geological data and predictable regulation. One example cited is a tungsten processing plant worth more than $1.1 billion involving US-based Cove Capital in the Karaganda region. The article also notes that expanding extraction and processing entails environmental and social risks, which need to be taken into account at the project preparation stage.

The success of the partnership will depend on whether the targeted $20 billion is attracted and whether it leads to new production facilities, expanded processing capacity and a higher share of value-added products in exports.