The mining and metallurgical complex (MMC) is considered a reliable pillar of Kazakhstan's economy. President Kassym-Jomart Tokayev in his 2025 Address to the people of Kazakhstan called the MMC "a reliable pillar of Kazakhstan's industrial framework" and noted its growth potential, primarily through high-value-added products. The government has been tasked with launching a new investment cycle and more actively directing capital into manufacturing and deep processing. This was reported by Qazaqyia.kz citing Kursiv Media.
This was reported by Qazaqyia.kz citing Kursiv Media.
In recent years, the state has indeed shifted its focus: from a simple regulator, it has become a full-fledged driver of the industry. Understanding that complex deposits and deep processing require enormous capital investments, the government is creating incentive conditions: from expanding geological exploration and modernizing infrastructure to direct mechanisms of state support for investors.
The first results of this policy are already reflected in the investment activity of the industry. In 2025, 27 investment projects worth more than 330 billion tenge were implemented in the MMC, and the total volume of investments in the industry exceeded 687 billion tenge.
A striking example of such systemic partnership between the state and business was the start of construction of the Aidarly mining and processing plant in the Abai region. The project, which had been inaccessible for decades, started precisely thanks to state support and the creation of conditions for investors. The new plant is designed to process 75 million tons of ore per year, will provide 3,000 jobs, and will bring over 1.43 trillion tenge in taxes.
Behind each such project is not only the investor's decision to invest money. A large MMC project goes through a long path where the interests of business and the state intersect. KURSIV MEDIA, together with experts, figured out what on this path depends on the investor, and where without state participation the launch of new production is impossible.
Large-scale production in the MMC cannot be built in one year. From the investment decision to the first product, years may pass, and investments return even longer. During this time, it is necessary to solve not only production but also legal, infrastructural, and personnel issues, and some of them require state participation.
According to EY partner Viktor Kovalenko, Kazakhstan is competing for investments with other countries. This means that much depends on how attractive conditions the country can offer to long-term capital.
"The state creates conditions for the investor to come specifically to Kazakhstan and create this project here. Paying taxes and creating new jobs is already a direct result of the project itself and the investor's contribution. Simply put, one does not work without the other: without any state support, a large capital-intensive project simply will not be implemented," the expert explains.
In practice, we are talking about quite specific things: access to infrastructure, speed of administrative procedures, protection of investor rights, and predictability of regulation. Much depends on them in terms of how attractive the launch of production in Kazakhstan will be.
At the same time, the issue of creating new production facilities is becoming increasingly important from the perspective of the long-term development of the industry itself.
"Opening new deposits is a necessity. We see that the reserves of existing deposits are gradually depleting, so we need to create a foundation for the future now. It is important to understand in advance where to direct people and new resources so that the contribution of the MMC to the economy is maintained and continues to grow," notes economist Zhanat Nurgaliyev.
Investor gets technology, state gets conditions
When implementing a large MMC project, it is important to clearly delineate the areas of responsibility of the state and business. As economist Zhanat Nurgaliyev notes, technology and production itself should remain the responsibility of business, while the state creates the conditions necessary for their implementation: provides land, ensures access to engineering networks, licenses, personnel, and other resources.
This issue is especially acute in the MMC, where deposits are often located far from existing infrastructure. To launch an enterprise, it is necessary to provide it with electricity, water, roads, and railway connections. Bringing such communications requires time and significant investments, so it is important at the planning stage to determine which side is responsible for their creation and within what timeframe.
At the same time, infrastructure can become a zone of shared responsibility.
"Basic infrastructure is primarily the task of the state. But where infrastructure is needed both by the investor and the surrounding settlements, a partnership model is possible: the parties can jointly finance its construction or modernization. At the same time, the investor must understand in advance the volume of their investments and what they will get in return," notes Viktor Kovalenko.
The launch of a large MMC project requires many approvals – from land and technical conditions to environmental, construction, and industrial expertise. Therefore, for the investor, not only the very possibility of obtaining the necessary permits is important, but also how smoothly state bodies accompany this process. In this sense, the "one-stop shop" principle allows reducing interdepartmental barriers and simplifying interaction between business and the state.
"Any normal investor is annoyed when they have to run around many different offices and state bodies for several years, collecting certificates, approvals, permits, and going through various procedures. Moreover, this list is not always clear and obvious in advance. Therefore, state support in this area is very important. It is gratifying that such support exists in Kazakhstan," emphasizes Viktor Kovalenko.
For projects designed for decades, it is also important to fix key conditions for a long term. One of the tools is investment agreements (IIAs), which consolidate the mutual obligations of the state and the investor and allow fixing the conditions for the project implementation. For large initiatives, it is provided.