OREANDA-NEWS. February 13, 2014. Prime Minister Serik Akhmetov has held a visiting session at the Committee of Geology and Subsoil Use of the Ministry of Industry and New Technologies.

The meeting discussed a number of pressing issues in the field of geology and subsoil use, including the implementation of the President's instructions on attracting investment in this sector.

According to the Vice Minister of Industry and New Technologies Nurlan Sauranbayev, to achieve the goals set by the President it is necessary to take a number of concrete measures. In particular, it is necessary to improve legislation in the sphere of subsoil use, which will simplify the mobilization of financial and technological investments in geology and improve the investment climate.

Funding for geological sector is increasing annually. Expenditures from the state budget are planned in the amount of more than 160 billion tenge for the period of 2015-2019.

Chairman of the Committee of Geology and Subsoil Use Bazarbay Nurabayev noted that the basis of exploration is the study of existing materials from previous years. Work in this direction continues.

"Starting from February 14, we are going to hold the "Weeks of minerals" followed by the release of reference minerals. "Week of gold" will be held first. It will gather subsoil users, geologists and scholars. This year we plan to publish 8 reference books on minerals," B. Nurabayev said.

According to the Chairman of the Board of JSC "Kazgeologiya" Galym Nurzhanov, the work is underway on attracting foreign investment in exploration, including such major investors as Rio Tinto, Kores, Iluka, JOGMEC. It is also planned to begin cooperation with investors from Germany and Canada.

Concluding the meeting, the Prime Minister of Kazakhstan noted the "key role of the Ministry of Industry and New Technologies in achieving the tasks set by the President in his Address to the Nation of the current year." Serik Akhmetov said that exploration is one of the priorities of industrial development of Kazakhstan.