Kazakhstan joins the World Bank Group’s Metals and Minerals Compact, targeting approximately $20 billion in investment by 2031 to expand mining, mineral processing and supporting infrastructure.
Kazakhstan has become the first country in Central Asia to join the World Bank Group’s Metals and Minerals Compact, a partnership aimed at attracting approximately $20 billion in investment by 2031 to expand mineral exploration, mining and processing capacity. The agreement was formalised on October 16, 2026, on the sidelines of the World Bank Group and International Monetary Fund annual meetings in Thailand.
Kazakhstan was represented at the accession ceremony by Yerlan Galiyev, chairman of the National Geological Service under the Ministry of Industry and Construction. The country-specific compact was developed by Kazakhstan’s Ministry of Industry and Construction, the Agency for Strategic Planning and Reforms, and the World Bank Group. It establishes a framework for cooperation covering the 2026-2030 period.
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The proposed investment target is intended to support the expansion of Kazakhstan’s mineral resource base, development of mining and processing facilities, adoption of advanced technologies and construction of supporting infrastructure. The initiative also aims to increase domestic processing and encourage the production of higher-value-added mineral products rather than relying primarily on raw material exports.
The compact outlines three principal areas of cooperation. The first focuses on improving mining policies and regulatory frameworks to strengthen transparency, provide greater predictability for investors and promote international environmental and social standards.
The second area covers geological exploration, infrastructure and workforce development. Priorities include digitising geological data, improving energy and transport networks, introducing modern metal-processing technologies and training qualified specialists.
The third area seeks to attract private investment into mineral extraction and downstream processing. The World Bank Group will support eligible projects through financing, technical assistance and guarantee instruments, while encouraging international investor participation.
Kazakhstan’s Minister of Industry and Construction, Yersaiyn Nagaspayev, said the partnership would support responsible resource development, strengthen industrial competitiveness and promote economic diversification.
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The initiative builds on Kazakhstan’s existing national development and geological-sector strategies, including its plans for rare and rare-earth metals. Implementation is expected to support job creation, expand local processing capabilities and strengthen the country’s role in global mineral supply chains.
The compact forms part of a broader World Bank Group effort to help countries attract responsible investment in metals and minerals while generating employment and greater economic benefits for local communities.