Kazakhstan’s Ministry of Finance presented a report on mining in the nation for the first quarter of 2022 on Tuesday.
It claims that $1.5 million in taxes were collected from 12 different areas.
Mining enterprises were deliberately shut down due to regulatory and power supply limits. Therefore funds were received less than expected.
Remember that once China banned mining in 2021, several businesses relocated their fields to Kazakhstan. On the other hand, local power grids were unable to deal with the additional load, resulting in widespread power outages.
As a result, the country has now lost its leadership position to the United States, Russia, and other nations. Kazakhstan’s mining sector now accounts for 13.3 percent of the global market.