Subsoil Use Contracts with Rio Tinto to be Signed Early Next Year

Vice Prime Minister Asset Yessekeshev informed the conference on intensification of geological survey and subsoil-use operations about KazGeology’s plans to sign contract with Rio Tinto in the first quarter next year.

Prospecting projects applying Rio Tinto approaches and new technologies are being designed. The project design operations are planned to be completed by the end of current year while the contracts to be signed early next year. Field operations should start already in summer.

Initial investments in prospecting stage are expected to reach US $ 15 mln. Rio-Tinto contribution will be presented as the transfer of cutting edge geo-surveying technologies and local staff training in the company’s approaches to geological exploration.

Technologies of geological and geochemical data base maintaining, scripts for 3D massifs modeling, SRC approved resources conversion into JORC standards, satellite images processing technologies and laboratory techniques for debris analysis to establish direct signs of mineralization will be considered for transfer purposes.

As it is already known, last October Ri-Tinto was recognized as KazGeology JSC strategic partner in porphyry copper ores exploration projects implementation at Balkhash-Saryagash prospect area within Korgantas block at Karaganda oblast.

Ministry of industry and New Technologies of the Republic of Kazakhstan

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