Tau-Ken Samruk, the national mining company, is set to commence mining operations at the Shalkiya lead-zinc deposit in October 2024, with a target of producing 2.2 million tonnes of ore by the following year. Chairman Bakyt Chirchikbayev unveiled these intentions at the MINEX Kazakhstan 2024 forum, indicating considerations for utilizing third-party facilities for ore processing during the construction phase of their processing plant. Negotiations for ore processing at external facilities are in their final stages, with details to be revealed upon agreement finalization.
Chirchikbayev provided updates on the construction progress of the mining and processing plant in Shalkiya, emphasizing the procurement of technological equipment. Discussions regarding the potential sale of the mine are ongoing, with Tau-Ken Samruk considering selling a controlling stake. Chirchikbayev mentioned the openness to selling anywhere between 51% to 100%, with negotiations ongoing with potential partners. The Shalkiya lead-zinc deposit, overseen by ShalkiyaZinc LTD JSC, a subsidiary of Tau-Ken Samruk JSC, is one of the largest globally. Construction of a lead-zinc mining and processing plant began in 2018, utilizing the substantial ore resources of the deposit, which holds around 112.9 million tonnes.
The project aims to fulfill the demand for zinc and lead concentrates both domestically and internationally, with confirmed reserves supporting operations until 2051. The total project cost amounts to $650 million, with $295 million funded by the European Bank for Reconstruction and Development, guaranteed by the Samruk-Kazyna National Welfare Fund. Established in 2009, Tau-Ken Samruk JSC manages the state’s mining assets under the Samruk-Kazyna state fund.
