Kazakhstan to provide $50 million guarantee for Spanish Xcalibur’s aerial geophysical surveysSpain’s Xcalibur will conduct aerial geophysical surveys of Kazakhstan’s mineral resources, announced Deputy Prime Minister and Minister of National Economy Serik Zhumangarin."I recently met with Xcalibur, a company specializing in non-invasive geological exploration through aerial surveys. We've reached an agreement to provide the initial $50 million guarantee for their pilot site survey," Zhumangarin said.He noted that the company is already operating in southern Kazakhstan, in the city of Taraz.“We expect concrete results, discovery of major deposits, which will create new opportunities. Kazakhstan's mineral resources have always been, and will remain, a primary magnet for foreign direct investment," the deputy prime minister stated.Erlan Galiyev, chairman of the National Geological Service, told Interfax-Kazakhstan that a memorandum of cooperation with Xcalibur was signed back in 2023 in Brussels. According to him, conducting new aerial geophysical surveys across Kazakhstan would “improve understanding of the country’s geological landscape.”"We've been discussing this project since 2024," Galiev said. "The main challenge is funding, as aerial surveys are extremely expensive. Smaller countries can manage the costs, but only with loans. For Kazakhstan's vast territory, the financial requirements make this particularly challenging. We're examining various options and recognize this as a necessary investment for our future," Galiyev said.He emphasized that Kazakhstan must seize the “window of opportunity” created by the current geopolitical situation.“We need to maximize this opportunity efficiently. The financing mechanism has not yet been finalized, but once it is, the timeline will become clear. Methodologically, aerial geophysics is suitable for identifying porphyry copper deposits. It effectively detects large underground deposits. Demand for copper is high and will continue to rise, so we recognize the potential,” the National Geological Service head concluded. (ICE ALMATY)

Fonte notizia: INTERFAX