Bangkok, 16 October. Kazakhstan has become the first Central Asian country to join the World Bank Group's Metals and Minerals Compact; one of the targets of its country strategy for 2026–2030 is to help attract about $20 billion of investment into the mining and metals sector by 2031, the government press service said (Kazakhstan Today, Forbes.kz).
The ceremony took place on the sidelines of the annual meetings of the World Bank and the IMF in Thailand; Kazakhstan was represented by Yerlan Galiyev, chairman of the board of the National Geological Service (Kazakhstan Today, 24KZ). The strategy (the compact) was drafted by the Ministry of Industry and Construction and the Agency for Strategic Planning and Reforms together with the World Bank; it builds on the National Development Plan to 2029, the Concept for the Development of the Geological Industry for 2023–2027 and the Comprehensive Plan for the Rare and Rare-Earth Metals Industry for 2024–2028 (Forbes.kz).
The compact sets out three areas: rules and regulation in the sector, including international environmental and social standards; exploration, infrastructure and skills, including the digitisation of geological data; and private investment in mining and deep processing using the World Bank's financial and guarantee instruments (24KZ). "Cooperation with the World Bank Group supports national priorities in developing raw-material processing and expanding the production of high value-added goods," said Minister of Industry and Construction Yersaiyn Nagaspayev (Kazakhstan Today).
Background: In January–August 2026 Kazakhstan's exports of copper and copper cathodes rose by 55.7% to $3.9 billion and uranium exports by 26.9% to $3.1 billion, according to the Ministry of Trade and Integration (Ministry of Trade and Integration). Government statements describe the $20 billion as a target the World Bank will help reach, not as a commitment by the bank; the share of the bank's own funds has not been disclosed.
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