The EBRD will support the modernization of Kazakhstan's mining industry

The Minister of Industry and Construction of Kazakhstan, Kanat Sharlapayev, and the First Vice-President of the European Bank for Reconstruction and Development (EBRD), Jurgen Rigterink, signed a memorandum of understanding on the development and modernization of Kazakhstan's mining industry on May 16, the EBRD press service reported.

The agreement establishes a more modern and sophisticated system for the collection, processing and distribution of geoscientific documents such as maps and data.

As a key element of the EU-Kazakhstan Roadmap for Critical Raw Materials and part of their strategic partnership, this document will push Kazakhstan to further develop its legal and regulatory framework for the mining industry.

The parties will also strengthen the ministry's ability to enact, implement, monitor and enforce industry regulation.

As part of the EBRD's approach to responsible exploration and production of critical raw materials, the memorandum is aligned with the bank's mining strategy, which was recently approved by its shareholders.

The EBRD plans to increase investment in the extraction of critical raw materials necessary for the transition to environmentally friendly production of wind turbines, solar panels, lithium-ion and electric car batteries, traction motors, heat pumps and similar equipment.

The bank emphasizes that these raw materials must be produced in an environmentally friendly, sustainable, sustainable and circular way.