Robert Friedland, a multibillionaire from the U.S. and Canada, has been bestowed the presidential medal by Toqaev.
Kazakhstan's President Kassym-Jomart Tokayev held talks with Robert Friedland, the executive co-chairman of Ivanhoe Mines Ltd., discussing potential cooperation in the fields of geology, mining, and metal processing.
Friedland briefed Tokayev on the commencement of large-scale geological exploration works in Kazakhstan's Chu-Sarysu Copper Basin, with Ivanhoe Mines planning to invest $18.7 million in the initial two-year phase, and potentially increasing investments to $115 million over the next four years.
Advanced aerogeophysical technologies and digital data analysis will be employed during the project's implementation, according to Friedland. He highlighted that this project, one of the largest in the history of copper exploration in Kazakhstan, presents new opportunities for global copper production.
Ivanhoe Mines, a Canadian-based company led by Friedland, specializes in raising financing for the exploration and development of mineral deposits, as well as for energy and technology projects.
Separately, Tokayev met with Si Guo Hua, the chairman of CITIC Group, one of China's largest state-owned investment corporations. The exact purpose of their meeting was not disclosed.
In related discussions on social media, concerns were raised about the potential transfer of wealth from Kazakhstan to foreign entities, while others express optimism about the prospects of global investors in the country's resources. There is no definitive information on the projected revenue or detailed timeline for Ivanhoe Mines' Chu-Sarysu Copper Basin project in Kazakhstan.
The Chu-Sarysu Copper Basin project, led by Ivanhoe Mines, a company specializing in finance for the exploration and development of mineral deposits, aims to invest $18.7 million initially and potentially $115 million over four years, creating new opportunities for global finance and copper production in Kazakhstan's industry sector.
Tokayev's meetings with international figures like Robert Friedland and Si Guo Hua, representatives of mining and finance industries respectively, could signal Kazakhstan's strategic partnerships as it opens up its resources to global investors.
