On March 19-20, Almaz Abdygalimov, Chairman of “Kazgeology” JSC participated in the eighth meeting of the Kazakhstan-Korea Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation (IGC) in Seoul.
In his report, the Chairman of “Kazgeology” JSC has delivered a comprehensive presentation on the current situation in Kazakhstan exploration, the Company’s activity and role in the introduction of new technologies.
The introduction of National Databank (NDB) is an important step taken by “Kazgeology” aimed at improving the environment for investment, thereby converting cooperation between state authorities and subsoil users to electronic format. The introduction of the “Single Window” principle by facilitating access to subsoil use processes and geological data on subsoil is one of NDB challenges.
JV “ALS Kazgeochemistry” LLP has been founded also with a view to implementing “Commercial Geochemical Laboratory” project in cooperation with ALS (Australia) Kazgeology subsidiary, which would enable the analysis of geological sampling without exporting outside the country. Laboratory is planned to be launched in Q4, 2019.
In conclusion, Korean investors were approached by the Chairman with a suggestion for cooperation.
Negotiations with major mining companies of South Korea that are interested in cooperation – KOLON Industries, Inc. and POSCO took place in the course of IGC.