Getech Group and East Star Resources plc have decided to establish a joint venture for copper exploration in Kazakhstan. Both foreign companies are registered in the United Kingdom, according to the AK&M news agency.
The name of the new subsidiary has not been disclosed yet. It is known that East Star will lead the operational activities. Getech states that it will analyze the mineral structures and copper systems from under-explored sedimentary basins in Kazakhstan. The company’s geologist data will complement the capabilities of artificial intelligence.
The enterprises aim to identify new prospective areas rich in copper in the republic and subsequently commence joint mining operations. Before deciding on the development of deposits and obtaining licenses, Getech’s stake in the project will be 5%. As part of the deal, the company has a call option for 5% of the JV’s shares at zero cost after receiving permission for geological exploration.
East Star already holds nine licenses for mineral exploration in Kazakhstan. Specialists are studying three mineral regions: the Rudny Altai belt, the Chu-Ili ore belt, and the Eastern Kostanay.
Reminder: Another foreign investor, Rio Tinto, plans to conduct exploration of copper deposits in the Ulytau region.
