The European Bank for Reconstruction and Development (EBRD) and Kazakhstan are joining forces to support the modernization and development of the national mining sector. They will cooperate on activities that can contribute to better governance, transparency and regulation of the sector in line with best international standards and practices.
The Memorandum of Understanding (MoU) signed today by Kazakhstan's Minister of Industry and Construction Kanat Sharlapaev, and EBRD First Vice President Jürgen Rigterink, will lead to a more modern and sophisticated system and approach to capturing, processing and disseminating geoscientific documents such as maps and data.
The MoU, the signing of which was attended by the Executive Vice-President of the European Commission Valdis Dombrovskis, is an important element of the EU-Kazakhstan critical raw materials roadmap and part of their strategic partnership.
In line with the MoU, the EBRD and Kazakhstan will be aiming to further develop the mining sector's legal and regulatory frameworks. The parties will also work on improving the ability of the Ministry of Industry and Construction to adopt, implement, monitor and enforce sector regulation.
EBRD First Vice President Jurgen Rigterink said: "This MoU is part of the Bank's approach to the responsible exploration and mining of critical raw materials. It is consistent with the EBRD's mining strategy recently approved by its shareholders."
The EBRD is planning to increase investment in the mining of critical raw materials essential for the green transition, manufacturing wind turbines, solar panels, lithium-ion and electric car batteries, traction motors, heat pumps and similar equipment. These raw materials must be produced in an environmentally sound, sustainable, resilient and circular manner.