73-662: Eurasian Resources Group (ERG) S.à r.l. is a large mining and raw materials supplier with operations in Kazakhstan , Brazil and Central Africa . In its current form, the company began in December 2013 after it acquired the Eurasian Natural Resources Corporation (previously a public limited company ), which was delisted from the London Stock Exchange and Kazakhstan Stock Exchange . Major shareholders of
146-522: A fuel for human consumption to provide energy for direct use (such as for cooking , heating or lighting ), to power heat engines (such as steam or internal combustion engines ) that can propel vehicles , or to generate electricity via steam turbine generators. Some fossil fuels are further refined into derivatives such as kerosene , gasoline and diesel , or converted into petrochemicals such as polyolefins ( plastics ), aromatics and synthetic resins . The origin of fossil fuels
219-634: A just transition and create policy that addresses the societal burdens created by the stranded assets of the fossil fuel industry. International policy, in the form of United Nations ' sustainable development goals for affordable and clean energy and climate action , as well as the Paris Climate Agreement , is designed to facilitate this transition at a global level. In 2021, the International Energy Agency concluded that no new fossil fuel extraction projects could be opened if
292-410: A complex mixture of high-molecular weight organic compounds, which yield synthetic crude oil when heated ( pyrolyzed ). With additional processing, they can be employed instead of other established fossil fuels. During the 2010s and 2020s there was disinvestment from exploitation of such resources due to their high carbon cost relative to more easily-processed reserves. Prior to the latter half of
365-412: A confirmatory drilling program, these resources could extend mining beyond Voskhod's projected 20-year life. Kazakhmys plc, which was the firm that controlled most copper mining and metal production in the country, was engaged in a number of projects to ensure growth in the short term and provide for reserve replacement in the longer term. The majority of these projects was expected to begin production in
438-425: A lesser extent oil and its derivatives, contributes to atmospheric particulate matter , smog and acid rain . Air pollution from fossil fuels in 2018 has been estimated to cost US$ 2.9 trillion, or 3.3% of the global gross domestic product (GDP). Climate change is largely driven by the release of greenhouse gases like CO 2 , and the burning of fossil fuels is the main source of these emissions. In most parts of
511-469: A number of mineral production enterprises; the percentage of ownership varied depending on the enterprise. Despite being open to foreign investment and even listed on Western stock exchanges, the ownership structure of some major mineral producing enterprises was not entirely transparent. In 2005, fuel and oil products comprised 69% of the value of exports. Ferrous and nonferrous metals were other significant export products. The value of commodity exports from
584-754: A process known as catagenesis . Despite these heat-driven transformations, the energy released in combustion is still photosynthetic in origin. Terrestrial plants tended to form coal and methane. Many of the coal fields date to the Carboniferous period of Earth's history . Terrestrial plants also form type III kerogen , a source of natural gas. Although fossil fuels are continually formed by natural processes, they are classified as non-renewable resources because they take millions of years to form and known viable reserves are being depleted much faster than new ones are generated. Fossil fuels have been important to human development because they can be readily burned in
657-602: A product portfolio in steelmaking materials, non-ferrous and energy, it is the world's largest producer of Ferrochrome by chrome content. ERG supplies electricity in Central Asia, also being a large railway operator in the region. In Kazakhstan, the group's major assets include: TNC Kazchrome, Sokolov Sarbai Mining Production Association (SSGPO), Aluminum of Kazakhstan (AOK), Kazakhstan Aluminum Smelter (KAS), Eurasian Energy Corporation (EEC), Shubarkol Komir and Trans Com. In Africa, ERG owns production and development stage assets in
730-406: A result of anaerobic decomposition . Over geological time this organic matter , mixed with mud , became buried under further heavy layers of inorganic sediment. The resulting high temperature and pressure caused the organic matter to chemically alter , first into a waxy material known as kerogen , which is found in oil shales , and then with more heat into liquid and gaseous hydrocarbons in
803-483: A result of synthetic nitrogen fertilizer use. According to head of a fertilizers commodity price agency, "50% of the world's food relies on fertilisers." The burning of fossil fuels has a number of negative externalities – harmful environmental impacts where the effects extend beyond the people using the fuel. These effects vary between different fuels. All fossil fuels release CO 2 when they burn, thus accelerating climate change . Burning coal, and to
SECTION 10
#1732884180692876-465: A supplier of mineral commodities, which include oil, nonferrous metals, and uranium. Kazakhstan has been developing a rich mineral resource endowment. Intensive raw materials production and exports have helped the economy to overcome economic crises and ensured high rates of economic growth during the past 3 years. The economy of Kazakhstan has been growing owing to the state policy of attracting foreign investment into its extraction industries. Kazakhstan
949-521: Is a net increase of many billion tonnes of atmospheric CO 2 per year. Although methane leaks are significant, the burning of fossil fuels is the main source of greenhouse gas emissions causing global warming and ocean acidification . Additionally, most air pollution deaths are due to fossil fuel particulates and noxious gases, and it is estimated that this costs over 3% of the global gross domestic product and that fossil fuel phase-out will save millions of lives each year. Recognition of
1022-500: Is an attempt to reduce climate change by exerting social, political, and economic pressure for the institutional divestment of assets including stocks, bonds, and other financial instruments connected to companies involved in extracting fossil fuels . Fossil fuel divestment campaigns emerged on college and university campuses in the United States in 2011 with students urging their administrations to turn endowment investments in
1095-404: Is now considered a very valuable resource. Natural gas deposits are also the main source of helium . Heavy crude oil , which is much more viscous than conventional crude oil, and oil sands , where bitumen is found mixed with sand and clay, began to become more important as sources of fossil fuel in the early 2000s. Oil shale and similar materials are sedimentary rocks containing kerogen ,
1168-949: Is one of the most competitive and fastest growing sectors of the country. Kazakhstan ranks second to Russia among the countries of the CIS in its quantity of mineral production. It is endowed with large reserves of a wide range of metallic ores , industrial minerals, and fuels , and its metallurgical sector is a major producer of a large number of metals from domestic and imported raw materials. In 2005, its metal mining sector produced bauxite , chromite , copper , iron , lead , manganese , and zinc ores, and its metallurgical sector produced such metals as beryllium , bismuth , cadmium , copper, ferroalloys , lead, magnesium , rhenium , steel , titanium , and zinc. The country produced significant amounts of other nonferrous and industrial mineral products, such as alumina , arsenic , barite , gold , molybdenum , phosphate rock , and tungsten . The country
1241-501: Is sometimes transported by diesel-powered locomotives, while crude oil is typically transported by tanker ships, requiring the combustion of additional fossil fuels. A variety of mitigating efforts have arisen to counter the negative effects of fossil fuels. This includes a movement to use alternative energy sources, such as renewable energy . Environmental regulation uses a variety of approaches to limit these emissions; for example, rules against releasing waste products like fly ash into
1314-528: Is the anaerobic decomposition of buried dead organisms, whose organic molecules were produced by photosynthetic carbon fixation and sequestered / biomagnified by the food web , creating an underground carbon sink . The conversion from these organic materials to high-carbon fossil fuels typically requires a geological process of millions of years. Due to the length of time it takes nature to form them, fossil fuels are considered non-renewable resources . In 2022, over 80% of primary energy consumption in
1387-511: Is used in the construction of roads . The energy for the Green Revolution was provided by fossil fuels in the form of fertilizers (natural gas), pesticides (oil), and hydrocarbon -fueled irrigation . The development of synthetic nitrogen fertilizer has significantly supported global population growth ; it has been estimated that almost half of the Earth's population are currently fed as
1460-641: Is waging war on nature. This is suicidal. Nature always strikes back – and it is already doing so with growing force and fury." He also claimed there is still cause for hope, anticipating the US plan to join other large emitters like China and the EU in adopting targets to reach net zero emissions by 2050. Fossilflation is a term that describes the impact of fossil fuels on inflation . According to Vox in August 2022 , "Economists have pointed to energy prices as
1533-716: The Caspian Sea region's largest recoverable crude oil reserves. In 2005, its production accounted for almost two-thirds of the approximately 2 Mbbl/d that was produced by CIS countries in the Caspian region. The country was poised to become an even more significant supplier to world oil markets in the next decade. Kazakhstan produced approximately 1.29 Mbbl/d of oil in 2005 and consumed 222,000 Mbbl/d, resulting in net exports of more than 1 Mbbl/d. The Kazakhstan Government projected increasing production levels to about 3.5 Mbbl/d by 2015, which would come mainly from production of about 1 Mbbl/d from
SECTION 20
#17328841806921606-812: The Stepnogorsk mining and chemical complex, which was Kazatomprom's main production enterprise, plans called for increasing production by expanding the volumes of uranium production in Mining Group No. 1, further developing the Vostok field, and completing development of the Zvezdnoye field. The large predicted oil resources of the Kazakhstan sector of the Caspian shelf will require a significant amount of investment to develop. The required cumulative investment could be as much as $ 160 billion, of which about $ 10 billion would be for
1679-459: The climate crisis , pollution and other negative impacts caused by fossil fuels has led to a widespread policy transition and activist movement focused on ending their use in favor of renewable and sustainable energy . Because the fossil-fuel industry is so heavily integrated in the global economy and heavily subsidized , this transition is expected to have significant economic impacts. Many stakeholders argue that this change needs to be
1752-599: The fossil fuel industry into investments in clean energy and communities most impacted by climate change . In 2012, Unity College in Maine became the first institution of higher learning to divest its endowment from fossil fuels. By 2015, fossil fuel divestment was reportedly the fastest growing divestment movement in history. As of July 2023, more than 1593 institutions with assets totalling more than $ 40.5 trillion in assets worldwide had begun or committed some form of divestment of fossil fuels. In 2019, Saudi Aramco
1825-407: The health risks of air pollution , and would greatly reduce global carbon emissions thus helping to limit climate change . As of 2021 , policy researchers estimate that substantially more money is spent on fossil fuel subsidies than on environmentally harmful agricultural subsidies or environmentally harmful water subsidies . The International Energy Agency says: "High fossil fuel prices hit
1898-406: The internal combustion engine and its use in automobiles and trucks greatly increased the demand for gasoline and diesel oil , both made from fossil fuels. Other forms of transportation, railways and aircraft, also require fossil fuels. The other major use for fossil fuels is in generating electricity and as feedstock for the petrochemical industry . Tar , a leftover of petroleum extraction,
1971-487: The 18th century, windmills and watermills provided the energy needed for work such as milling flour, sawing wood or pumping water, while burning wood or peat provided domestic heat. The wide-scale use of fossil fuels, coal at first and petroleum later, in steam engines enabled the Industrial Revolution . At the same time, gas lights using natural gas or coal gas were coming into wide use. The invention of
2044-418: The 21st century. Combustion of fossil fuels generates sulfuric and nitric acids , which fall to Earth as acid rain, impacting both natural areas and the built environment. Monuments and sculptures made from marble and limestone are particularly vulnerable, as the acids dissolve calcium carbonate . Fossil fuels also contain radioactive materials, mainly uranium and thorium , which are released into
2117-745: The Aktogay (which was part of the Balkhash mining-metallurgical complex), which was being evaluated for development of an open pit to mine that was expected to produce 1.614 Gt of ore at an average grade of 0.36% copper, or 5.810 Mt of copper. Expansion of existing mines would include that of the East Saryoba underground mine (which was part of the Zhezkazgan complex), the Akbastau and the Kosmurun Mines (which were part of
2190-605: The COVID-19 pandemic, some argued for the possibility of a base effect phenomenon due to cheaper than normal prices, such as for oil, at the onset of the pandemic, followed by above-average prices which exacerbated the perceived inflation. While not expected to provide much short-term relief, the Inflation Reduction Act seeks to make the United States less dependent on fossil fuels and their ability to cause inflation in
2263-781: The Democratic Republic of Congo (DRC), Zambia, Zimbabwe, South Africa, Mozambique and Mali. In Brazil it develops the Pedra de Ferro iron ore production complex and the Porto Sul deep water port, both of which are in the State of Bahia , and the first stretch of the FIOL transcontinental railway. Since 2014 the Group sold assets worth about US$ 1 billion, including zinc mines to Glencore . Mineral industry of Kazakhstan The mineral industry of Kazakhstan
Eurasian Resources Group - Misplaced Pages Continue
2336-834: The East Region complex), and the Taksura open pit (which was part of the North Mine). Kazzinc JSC operated most of the country's lead and zinc mining and metallurgical enterprises. It also produced copper and precious metals. It employed about 22,000 people in mining, beneficiation, metallurgy, power generation, and auxiliary production. The company was established in 1997 through the merger of eastern Kazakhstan's three main nonferrous metals companies— Leninogorsk (now Ridder ) Polymetallic complex, Ust- Kamenogorsk Lead and Zinc complex, and Zyryanovsk Lead Complex. The controlling block of shares in Kazzinc
2409-502: The GDP, employed 191,000 employees, and accounted for 33.1% of capital investment and 64.5% of direct foreign investment, of which 63.5% was in the oil sector. Kazakhstan's mining industry is estimated at US$ 29.5 billion by 2017. Kazakhstan faces a number of environmental challenges, including industrial pollution , land degradation and desertification , and contamination from its former role in nuclear weapons development and testing in
2482-682: The Government Pension Fund of Norway. Kazakhstan is the world's second ranked chromite producer, after South Africa . Production was centered in the Aqtobe region of northwestern Kazakhstan at the Khromtau complex. Chromite production was significantly expanding with the aid of Western investment. London-based Oriel Resources Plc acquired 100% of the Voskhod chromite project in February 2005 and, based on
2555-710: The Ridder complex, 25,000 t/yr of lead and 110,000 t/yr of zinc; and the Balkhash zinc plant, 100,000 t/yr of zinc. The Shymkent lead plant was working far below capacity owing to a lack of raw material. Kazzinc mined lead-zinc ores from the Maeeyevskoye, the Ridder-Sokol’noye, and the Tishinskoye deposits, and processed lead and zinc at the Ridder and the Ust-Kamenogorsk complexes. Plans called for beginning mining in 2006 at
2628-487: The Semipalatinsk region. Significant improvements in the environmental situation of the northern Aral Sea area has been made owing to dam construction and river flow regulation. Kazakhstan law holds that no sector of the economy is fully closed to investors, and, in 2005, a large number of Kazakhstan's mineral production enterprises had significant foreign ownership. In 2005, the government also maintained ownership in
2701-625: The Shaimreden deposit in Kustanay oblast, which would enable Kazzinc to produce an additional 60,000 t/yr of zinc (Notarov, 2005). In the fourth quarter of 2004, Kazzinc began production at the new Shubinsky mining subsidiary, which would operate the Shubinsky underground mine in the vicinity of Ridder. Reserves at the Shubinskoe deposit were estimated to be 1.5 Mt of lead-zinc and copper ores. Kazakhstan has
2774-538: The United States production. In addition to the effects that result from burning, the harvesting, processing, and distribution of fossil fuels also have environmental effects. Coal mining methods, particularly mountaintop removal and strip mining , have negative environmental impacts, and offshore oil drilling poses a hazard to aquatic organisms. Fossil fuel wells can contribute to methane release via fugitive gas emissions . Oil refineries also have negative environmental impacts, including air and water pollution. Coal
2847-465: The agreement between Kazakhstan and Russia to partition the seafloor of the Caspian along the midline between the two countries. Similar agreements have been concluded between Kazakhstan and Azerbaijan, and between Azerbaijan and Russia. Also, in the energy sector, Kieltyka will play an increasingly important role as one of the world's main suppliers of uranium. Although Kazakhstan has adequate lead and zinc reserves to allow it to expand production through
2920-458: The atmosphere. In December 2020, the United Nations released a report saying that despite the need to reduce greenhouse emissions, various governments are " doubling down " on fossil fuels, in some cases diverting over 50% of their COVID-19 recovery stimulus funding to fossil fuel production rather than to alternative energy. The UN secretary general António Guterres declared that "Humanity
2993-532: The atmosphere. In 2000, about 12,000 tonnes of thorium and 5,000 tonnes of uranium were released worldwide from burning coal. It is estimated that during 1982, US coal burning released 155 times as much radioactivity into the atmosphere as the Three Mile Island accident . Burning coal also generates large amounts of bottom ash and fly ash . These materials are used in a wide variety of applications (see Fly ash reuse ), utilizing, for example, about 40% of
Eurasian Resources Group - Misplaced Pages Continue
3066-557: The case. At the beginning of 2014 the company restructured, introducing new corporate governance and compliance policies and new management. Projects included cobalt mining in Africa and an expanded aluminum plant in Kazakhstan. In mid 2024 ERG appointed Shukhrat Ibragimov as its new CEO. The former CEO of ERG, Benedikt Sobotka, stepped down after ten years in this role. Eurasian Resources Group owns fully integrated mining, processing, energy production, logistics and marketing operations. With
3139-587: The company include the Republic of Kazakhstan (40%), Alexander Mashkevitch , Patokh Chodiev and the heirs of Alijan Ibragimov . The Eurasian Natural Resources Corporation (ENRC) was taken private in 2013 amid falling share price and ongoing investigation from the UK Serious Fraud Office . In August 2023, after latest review of the investigation, the UK Serious Fraud Office concluded that it has insufficient admissible evidence to prosecute, and closed
3212-507: The danger of the economy not using effectively the excess profits from the extracting sectors and foreseeing a possible negative effect from a sharp downfall of oil prices, the government established the National Fund to accumulate surplus oil revenues. The revenues in the Fund are to be used for the overall development of the national economy. The establishment of the Fund drew on the experience of
3285-711: The data show that fossil fuels cause the highest levels of greenhouse gas emissions and are the most dangerous for human health. In contrast, modern renewable energy sources appear to be safer for human health and cleaner. The death rates from accidents and air pollution in the EU are as follows per terawatt-hour (TWh): As the data shows, coal, oil, natural gas, and biomass cause higher death rates and higher levels of greenhouse gas emissions than hydropower, nuclear energy, wind, and solar power. Scientists propose that 1.8 million lives have been saved by replacing fossil fuel sources with nuclear power. Fossil fuel divestment or fossil fuel divestment and investment in climate solutions
3358-931: The economy. Moody's estimates that by 2030, the bill could reduce the typical American household's spending on energy by more than $ 300 each year, in 2022 dollars. Environmental pollution from fossil fuels impacts humans because particulates and other air pollution from fossil fuel combustion may cause illness and death when inhaled. These health effects include premature death, acute respiratory illness, aggravated asthma, chronic bronchitis and decreased lung function. The poor, undernourished, very young and very old, and people with preexisting respiratory disease and other ill health are more at risk. Global air pollution deaths due to fossil fuels have been estimated at over 8 million people (2018, nearly 1 in 5 deaths worldwide) at 10.2 million (2019), and 5.13 million excess deaths from ambient air pollution from fossil fuel use (2023). While all energy sources inherently have adverse effects,
3431-565: The existing registered reserves of recently discovered copper and gold fields have low quality and cannot be considered equivalent to the depleted reserves. Mineral fuel A fossil fuel is a carbon compound - or hydrocarbon -containing material formed naturally in the Earth's crust from the buried remains of prehistoric organisms ( animals , plants or planktons ), a process that occurs within geological formations . Reservoirs of such compound mixtures , such as coal , petroleum and natural gas , can be extracted and burnt as
3504-474: The global economy and society wants to avoid the worst impacts of climate change and meet international goals for climate change mitigation . The theory that fossil fuels formed from the fossilized remains of dead plants by exposure to heat and pressure in Earth's crust over millions of years was first introduced by Andreas Libavius "in his 1597 Alchemia [Alchymia]" and later by Mikhail Lomonosov "as early as 1757 and certainly by 1763". The first use of
3577-465: The importance of energy, transport and chemical industries to local, national and international economies, these lobbies have the capacity and money to attempt to have outsized influence on governmental policy. In particular, the lobbies have been known to obstruct policy related to environmental protection , environmental health and climate action . Lobbies are active in most fossil-fuel intensive economies with democratic governance, with reporting on
3650-464: The initial stage of exploration, including field appraisal. Western companies already have invested more than $ 7 billion. A constraint to obtaining investment funds to develop the Caspian shelf is the lack of resolution of the territorial status of the Caspian Sea in regards to the demarcation lines and the ownership rights of the bordering states. This issue may have been partially resolved, however, with
3723-631: The lobbies most prominent in Canada, Australia, the United States and Europe, however the lobbies are present in many parts of the world. Big Oil companies such as ExxonMobil , Shell , BP , TotalEnergies , Chevron Corporation , and ConocoPhillips are among the largest corporations associated with the fossil fuels lobby. The American Petroleum Institute is a powerful industry lobbyist for Big Oil with significant influence in Washington, D.C. In Australia, Australian Energy Producers , formerly known as
SECTION 50
#17328841806923796-485: The main reason for high inflation," noting that "energy prices indirectly affect virtually every part of the economy". Sectors that raise prices significantly as a result of higher fossil fuel prices include transportation, food, and shipping. Mark Zandi of Moody's says that fossil fuel prices have driven every big episode of inflation since WWII. The economic impact of the Russian Invasion of Ukraine in 2022
3869-460: The mineral extraction sectors increased considerably in 2005, owing to an increase in the price of oil and other mineral commodities. Kazakhstan exports minerals to Russia, China, the United States, Japan, Germany, Switzerland, Great Britain, Italy, Spain, Netherlands, South Korea, UAE. Kazakhstan's mineral resource base is characterized by a large number of oilfields and gasfields and by a large variety of mineral resources. The country ranks among
3942-596: The near or medium term and would include both new mine development and expansion of existing mines. The new mines included the Artemovskoye (which was part of the East Region complex), which was completed ahead of schedule and had the capacity to produce 28,000 t/yr of copper and 98,000 t/yr of zinc; the Zhaman-Aybat (which was part of the Zhezkazgan mining-metallurgical complex), which was under construction and has reserves of 75.3 Mt of ore that contains 1.069 Mt of copper; and
4015-402: The next decade, expansion will depend on Kazakhstan's companies being able to acquire financing and the participation of foreign firms in developing large lead and zinc deposits. Moreover, Kazakhstan is facing a critical depletion of its minerals. The fields discovered by Soviet geologists have been developed too intensely in the last decades, while geological exploration has not yet covered all
4088-463: The open atmosphere to produce heat. The use of peat as a domestic fuel predates recorded history. Coal was burned in some early furnaces for the smelting of metal ore , while semi-solid hydrocarbons from oil seeps were also burned in ancient times, they were mostly used for waterproofing and embalming . Commercial exploitation of petroleum began in the 19th century. Natural gas, once flared-off as an unneeded byproduct of petroleum production,
4161-408: The poor hardest, but subsidies are rarely well-targeted to protect vulnerable groups and tend to benefit better-off segments of the population." The fossil fuels lobby includes paid representatives of corporations involved in the fossil fuel industry ( oil , gas , coal ), as well as related industries like chemicals , plastics , aviation and other transportation. Because of their wealth and
4234-523: The positive results of a feasibility study, planned to fast-track development of the Voskhod project. Discovered in 1963, the Voskhod chromite deposit lies within the Khromtau District of the Aqtobe Region. Although surrounded by a group of existing mines, it had never been worked. The ore grade reportedly averages 48% Cr 2 O 3 with concentrate upgraded to 57% Cr 2 O 3 . Production from Voskhod
4307-401: The promising areas. Kazakhstan is facing inability to restock the depleted reserves and the tendency is worsening. The depletion of reserves of many of main minerals greatly exceeds the speed of their growth after exploration. Reserves increase in case of some metals (iron, manganese, gold, zinc) due mainly through re-evaluation and additional exploration of the already discovered fields. However,
4380-418: The ranks of the world's leading producers of lead and zinc. Almost all Kazakhstan's lead and zinc production was exported, which placed Kazakhstan already among the world's leading lead and zinc exporting countries. In 2005, Kazakhstan's lead and zinc producing enterprises were operating below capacity. The Ust-Kamenogorsk complex had the capacity to produce more than 150,000 t/yr of lead and 240,000 t/yr of zinc;
4453-686: The term "fossil fuel" occurs in the work of the German chemist Caspar Neumann , in English translation in 1759. The Oxford English Dictionary notes that in the phrase "fossil fuel" the adjective "fossil" means "[o]btained by digging; found buried in the earth", which dates to at least 1652, before the English noun "fossil" came to refer primarily to long-dead organisms in the early 18th century. Aquatic phytoplankton and zooplankton that died and sedimented in large quantities under anoxic conditions millions of years ago began forming petroleum and natural gas as
SECTION 60
#17328841806924526-581: The to-be-developed offshore Kashagan field , 700,000 Mbbl/d from the onshore Tengiz field, 600,000 Mbbl/d from the to-be-developed onshore Kurmangazy field, and 500,000 Mbbl/d from the onshore Karachaganak field. The remainder would come from the development of smaller fields. Major growth would come from an approximately 75% increase in production from the Tengiz field and by development of the Kashagan field, which would add an additional 1 Mbbl/d after 2010. Kazakhstan
4599-560: The world and over 60% of its electricity supply were from fossil fuels. The large-scale burning of fossil fuels causes serious environmental damage . Over 70% of the greenhouse gas emissions due to human activity in 2022 was carbon dioxide (CO 2 ) released from burning fossil fuels. Natural carbon cycle processes on Earth, mostly absorption by the ocean , can remove only a small part of this, and terrestrial vegetation loss due to deforestation , land degradation and desertification further compounds this deficiency. Therefore, there
4672-491: The world climate change is negatively impacting ecosystems . This includes contributing to the extinction of species and reducing people's ability to produce food, thus adding to the problem of world hunger . Continued rises in global temperatures will lead to further adverse effects on both ecosystems and people; the World Health Organization has said that climate change is the greatest threat to human health in
4745-474: The world's leading countries in its reserves of chromite, wolfram, lead, zinc, manganese, silver and uranium. It also has significant reserves of bauxite, copper, gold, iron ore, coal, natural gas and petroleum. According to data reported from Kazakhstan, the country is one of the 10 leading countries in the world for a significant number of mineral resources. Within the CIS (based on the reserve classification system that
4818-426: Was a large producer of mineral fuels , including coal , natural gas , oil , and uranium . The country's economy is heavily dependent on the production of minerals. Output from Kazakhstan's mineral and natural resources sector for 2004 accounted for 74.1% of the value of industrial production, of which 43.1% came from the oil and gas condensate extraction. In 2004, the mineral extraction sector accounted for 32% of
4891-480: Was a major recent example of fossil fuels causing inflation. Some economists, including Isabel Schnabel , believe that dependence on fossil fuels is the main driver of the 2021-2022 inflation spike . Gernot Wagner argues that commodities are undesirable energy sources because they are susceptible to volatile price swings that technologies like renewable energy are not. He also argues that technologies improve and get relatively cheaper over time. Coming out of
4964-503: Was expected to be 900,000 t/yr; production would begin in 2008 and continue for 14 years. The Voskhod Mine was projected to be one of the world's leading suppliers of high-grade chromite. Oriel subsequently was awarded an extension to the Voskhod contract license area to include the Karaagash deposit which has, according to the former Soviet reserve classification system, C2 and P1 classified resources of some 7.8 Mt. Assuming positive results of
5037-753: Was listed and it reached a US$ 2 trillion valuation on its second day of trading, after the world's largest initial public offering. Fossil fuel subsidies are energy subsidies on fossil fuels, and in 2023 totalled over 1 trillion dollars. They may be tax breaks on consumption , such as a lower sales tax on natural gas for residential heating ; or subsidies on production , such as tax breaks on exploration for oil . Or they may be free or cheap negative externalities ; such as air pollution or climate change due to burning gasoline , diesel and jet fuel . Some fossil fuel subsidies are via electricity generation , such as subsidies for coal-fired power stations . Eliminating fossil fuel subsidies would reduce
5110-405: Was sold by the state to the private sector, with Glencore International AG of Switzerland becoming the company's main investor. In addition to Kazzinc, ZAO Yuzhpolimetal Corp. produced about 60,000 t/yr of lead metal from its Shymkent lead plant; and Kazakhmys produced more than 20,000 t/yr of zinc metal at the Balkhash zinc plant (Notarov, 2005). Kazzinc's development strategy called for it to join
5183-484: Was the top country in the world in volume of uranium production. The company Kazatomprom was the fourth ranked uranium producer in the world as of 2009. Approximately one-fifth of the world's uranium reserves are located in Kazakhstan. Total resources of uranium are more than 1.5 Mt, and more than 1.1 Mt can be mined by in situ leaching . Kazakhstan has an expanding uranium mining sector, producing about 24,000 tonnes of uranium in 2016, but then reducing slightly. At
5256-470: Was the first CIS country assigned with investment sovereign rating, and the World Bank has listed Kazakhstan among the 20 most attractive countries for investment. As a small economy with large fuel and mineral resources, however, Kazakhstan has not been particularly attractive for investment in the manufacturing sector, which makes the country highly vulnerable to fluctuations in commodity prices. In view of
5329-457: Was used in the Soviet Union and then by many of its successor states), Kazakhstan ranked first in its reserves of chromite and lead, possessing 97% and 38%, respectively, of all CIS reserves. The country ranked second in manganese, nickel, oil, phosphate rock, silver, and zinc, and third in coal, gas, gold, and tin. Since the breakup of the Soviet Union, Kazakhstan has been perceived globally as
#691308