Kassym-Jomart Tokayev Revealed The Cost of Undiscovered Deposits in Kazakhstan
President of Kazakhstan Kassym-Jomart Tokayev, during an investment roundtable in Rome, said that the republic has more than 5 thousand undiscovered deposits worth over 46 trillion dollars.
As part of his official visit to Rome, Tokayev spoke at the Kazakhstan-Italy investment round table, in which about 30 companies took part.
“According to World Bank estimates, Kazakhstan has more than 5 thousand undiscovered deposits worth over 46 trillion dollars. Today we already produce 19 of the 34 most important types of raw materials necessary for the economy of the European Union. Deposits of another 9 types of minerals, such as cobalt, tungsten, lithium and others can be developed if the necessary investments are available,” Tokayev said.
Given the technological revolution and the projected growth in global demand, the leader of Kazakhstan called on Italian business to cooperate in the extraction and processing of critical raw materials. They also discussed the prospects for cooperation in the field of renewable energy.
“Our potential in the field of renewable energy is estimated at 1 trillion kW/h. It has attracted interest from such major global companies as the French Total, Saudi Arabian ACWA Power, Masdar from the UAE and the German-Swedish Svevind Energy Group. These companies intend to implement generation projects 43 GW of renewable energy. As I know, in Italy a third of electricity is generated from “green” sources. Taking into account the existing experience, Italian companies could join these ranks,” Tokayev noted.
He emphasized that Kazakhstan became the first country in the region to ratify the Paris Agreement and commit to achieving carbon neutrality by 2060.
