During Kanat Sharlapaev’s visit to Canada for the PDAC conference, the Minister of Industry and Construction of the Republic of Kazakhstan led a delegation that signed a Memorandum of Understanding in the field of geology. This agreement involved multiple parties: the National Geological Service of Kazakhstan (NGS), Koan Analytics Inc., and the Geological Survey of Finland (GTK). Erlan Galiev, the Chairman of the Board of NGS, represented the Kazakh side in signing the document. Rob Wood, an executive at Koan Analytics Inc., signed on behalf of the Canadian side, and Kimmo Tiilikainen, Director General of GTK, represented the Finnish side.
The memorandum aims to explore the possibility with the NGS of establishing an Advanced Expertise Center in artificial intelligence to enhance the success and accuracy of mineral exploration processes. It also seeks to develop data transformation, predictive models, algorithms, and data analysis tools to identify potential mineral extraction sites.
Koan Analytics Inc. is a Canadian company that offers integrated solutions for organizations operating in the industrial sector. Their services include data transformation, architecture, data classification, selection, construction, and training of machine learning models, as well as algorithm development. They support forward-looking companies and help transform their data through their model of an analytical platform.
Subsequently, a Memorandum of Understanding was also signed between the National Geological Service of Kazakhstan and the Geological Survey of Finland (GTK).
GTK (Geological Survey of Finland) is Finland’s leading geological center, specializing in the study of its geology, resource assessment, and the development of methods for their utilization and protection. They conduct a variety of research, including geological, geophysical, and geochemical studies, and are involved in mapping and database creation.
“The signed Memorandums are an important indicator of the international community’s interest in Kazakhstan’s geological resources and the Canadian side’s readiness to strengthen cooperation in the geology sector to improve investment and economic relations between our countries,” noted Erlan Galiev, Chairman of the Board of the NGS.
FOR REFERENCE: The PDAC (Prospectors & Developers Association of Canada) Convention is an annual event that has become an integral part of the mining industry, bringing together thousands of professionals from around the world. Held in Toronto, Canada, it attracts geologists, investors, analysts, representatives of mining companies, equipment and service suppliers, as well as government officials.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Funds Spectrum journalist was involved in the writing and production of this article.