Kazakhstan to spend $500 mln on oil, gas, and mineral exploration driveKazakhstan will invest roughly $500 million into a nationwide geological exploration program over the next three years, targeting new deposits of metals, rare earths, and hydrocarbons, the government’s press service said Wednesday.Last year, the government approved 20 geological survey projects covering 100,000 square kilometers, with annual follow-up surveys of 30,000 sq km of the most promising sites planned."The 240 billion tenge will fund these initial 20 projects, along with seismic work in under-explored sedimentary basins and modernizing the nation's geological infrastructure," the statement said.Work will include analysis of satellite data, airborne geophysical and geochemical surveys, and field studies. Target areas were chosen based on resource depletion, low levels of existing extraction, and prospects for discovering deposits of copper, gold, lead, zinc, rare‑earth elements, barite, and bauxite.Seismic exploration will also be carried out in three little‑studied oil‑ and gas‑bearing basins: North Torgai, Shu‑Sarysu, and Syr Darya. The program further covers lab upgrades and the digitization of geological archives.Officials said the expanded state‑led surveys are expected to sharpen geological forecasts, cut investment risks, and help attract private capital into exploration and mining.Over the past 15 years, Kazakhstan invested $469 million in geological exploration, according to government figures. (ICE ALMATY)

Fonte notizia: INTERFAX