Most Kazakh jewelers use gold raw materials purchased not from the capital's refinery Tau-Ken Altyn (part of Tau-Ken Samruk), said Kanat Baitov, executive director of the Dragmet association. This was reported by Qazaqyia.kz citing Kursiv Media.

The capital's plant purchases Dore alloy (containing 70% gold and silver) from gold mining companies and mainly sells 9999 gold.

He noted that in recent years Kazakhstan produces about 70 tons of gold annually. The jewelry industry accounts for about 5% of this volume, but more than 50% of the latter is in the shadow.

"We mine 70 tons of gold. Of these 70 tons, at least 20 (tons - Kursiv), at least 5 tons, if we started producing jewelry, there would be potential," he said during the AMM-2026 mining congress, addressing jewelers.

Baitov recalled that earlier a VAT benefit was introduced for jewelers when purchasing granulated gold from the capital's refinery Tau-Ken Altyn.

"They are ready not only granulated gold, but over time, if volumes increase, they are ready to supply you alloys (supply - Kursiv) so that you do not waste time... they could already produce ready-made samples for you," he said.

The head of Dragmet noted that jewelers asked for tax benefits following the example of Uzbekistan, but such a step is unlikely until the industry shows its efficiency.

"We simply cannot provide benefits physically. Until you show yourself that there is such an industry worth fighting for, worth asking for benefits later, because when VAT was canceled for Tau-Ken Altyn, we reached 36 kg at some point, then we missed it, VAT was reintroduced and we went back to zero. Now we have started selling up to 34 kg again, and our quota set by the National Bank is 300 kg of gold... The National Bank has the right to sell to you and with the understanding that if someone else appears, they will increase it, so we produce 70% of granulated gold, you don't even take 30 kg officially," he said.

According to him, this practice raises questions from government agencies and other parties.

"Here is such a paradox, although you produce, where does the gold come from, right?" Baitov noted.

The head of Dragmet recalled that the republic still has significant imports of jewelry from Russia, Turkey and other countries. In this regard, he expressed a wish that by 2027 Kazakh jewelers would be able to increase the purchase of gold from the plant in Astana.