Private international holding company IG Global Group has created a new subsidiary that will enter mineral-rich Kazakhstan. The company created the wholly-owned subsidiary, IG Copper and Gold, because of the country’s potential to be a major player in the global mining industry. The possibility for project volume and magnitude in the coming years is massive, and IG Global Copper and Gold will now be in the region to capitalize on the realization of that potential.
IG Global Group is also establishing its first corporate offices in Kazakhstan, as IG Copper and Gold becomes a focus and pivotal asset for the holding company.
IGG has interests (direct and indirect) in companies in the mining industry, including mineral exploration, drilling, and mine development. So far, the company’s portfolio is composed of companies with operations, projects, and clients in the United States and the Russian Far East. Founded in 2010, IGG consists of an industry-leading management team well-versed in the latest industry exploration, and mine development techniques and technologies.
This expansion into Kazakhstan marks the beginning of a new chapter in the third country, building on their operations in the United States and Russia. In 2016, the country became a member of the Committee for Mineral Reserves International Standards, implemented simplified mineral licensing procedures in 2017, and pared down the process and procedure for obtaining subsoil use rights.
As an extremely mineral-rich country, Kazakhstan is well-positioned to deliver consistent exploration in the coming decades and likely plenty of discovery. The region holds resources such as gold, chrome iron ore deposits, tungsten, molybdenum, uranium, polymetallic, and copper just waiting to be discovered and mined.
Due to infrastructure, safety, and process complications in the past, it has been under-utilized as a valuable mining area. With recent steps taken to open the country to the mining industry and make the process smoother, Kazakhstan could become a significant area for expansion in the future.
IG Global Copper and Gold is entering a geographical market that has limited competition, and potential for long-term growth, making this new project a strategic and pivotal move to secure the future of IGG. IG Global Group had this to say about their new foray into their third country: “IGG’s team and experience in the Russian Far East and Asia is a strategic advantage in its ability to operate in this region.”
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