Zijin Mining Group Co., Ltd recently held discussions with Kazakhstan’s Deputy Foreign Minister and representatives from Kazakh Invest regarding potential projects in the mining and metallurgical industry. The foreign investor plans to open a processing plant in the republic, according to a report from the Kazakh Ministry of Foreign Affairs.
The new facility is expected to produce concentrates of precious and non-ferrous metals. However, this project is likely to be a long-term endeavor, as Zijin Mining is still in the process of identifying a suitable mineral resource basefor the plant.
The company has expressed its readiness to develop Kazakhstan’s gold, copper, and polymetallic deposits. The specific region for the project has yet to be determined.
The concentrates produced by the new processing plant are intended to be sent to local metallurgical plants for the extraction of valuable metals. An initial investment of $100 million is planned for the project, which is expected to create at least 1,000 new jobs in the republic.
Additionally, Zijin Mining plans to engage in geological exploration of new prospective areas. The Kazakh authorities, keen on expanding the country’s mineral resource base, are prepared to offer state-level support to their Chinese partner.
Zijin Mining is a multinational mining conglomerate that operates over 30 projects in 12 countries. Last year, the company’s assets produced 720,000 tons of copper and 250 tons of refined gold.
