Publication: Monitor Volume: 4 Issue: 108

Addressing the second annual Kazakhstan Investment Summit, which opened yesterday in Almaty, President Nursultan Nazarbaev sketched a picture of the country’s wealth in metallic ores. According to Nazarbaev, Kazakhstan holds 30 percent of the world’s proven reserves of chromium, 25 percent of manganese, 19 percent of lead, 13 percent of zinc, 10 percent of copper and 10 percent of iron. Without citing percentages, the president also claimed that Kazakhstan ranks first worldwide with respect to estimated reserves of uranium, and seventh worldwide for gold. Nazarbaev made these remarks in the context of urging international companies to invest more substantially in sectors other than oil and gas. (Russian agencies, June 4)

In a parallel statement, published in yesterday’s issue of Izvestia and intended for Russian investors, Nazarbaev pointed out that “the place of Russian capital in Kazakhstan is being taken by more resourceful American, German, Turkish, Chinese and other investors. And not because we did not invite Russian capital, but because these investors win out in open tenders.” (Izvestia cited by Russian agencies, June 4) — VS

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