AIFC-registered private company ForgeX Solutions Ltd is planning to develop the Tymlay titanium-magnetite deposit in the Korday District of Zhambyl Region through open-pit mining, with stripping operations starting in 2027 and ore extraction beginning in 2028 under a 46-year mine plan running to 2072.
The project envisages extraction of 223.7 million tonnes of marketable ore at a processing plant capacity of 5 million tonnes per year. According to the published mining plan, the deposit’s reserves include 64.5 million tonnes of iron at an average grade of 28.83% and 21.1 million tonnes of titanium dioxide at an average grade of 9.41%. Vanadium pentoxide reserves stand at 232,584 tonnes at an average grade of 0.102%.
Total titanium-magnetite ore reserves and resources across the Tymlay deposit and associated intrusive bodies in the ore field are estimated at approximately 1 billion tonnes, placing it in the large deposit category and — by titanium content — in the unique category. The project documentation emphasises that Tymlay surpasses all iron ore deposits on the Kazakhstani state balance in titanium content while having among the lowest sulphur and phosphorus concentrations.
ForgeX Solutions Ltd is registered in the Astana International Financial Centre. Its founder is listed as Zholbarys Baurzhan in the public registry adata.kz. Geological survey and assessment work is planned for this year to verify historical geological information.
The Tymlay deposit has a complex history. Previous subsoil user TENIR-LOGISTIC conducted exploration from approximately 2006, with plans involving China Machinery Engineering Corporation and China Metallurgical Group Corporation to build a mining and processing complex worth up to $700 million with annual capacity of 5 million tonnes of ore and 1.85 million tonnes of titanium-magnetite concentrate, as well as a chemical-metallurgical plant in Pavlodar Region for titanium dioxide production. Total project estimates ranged from 782 billion tenge to $2.3 billion. The subsoil contract was terminated in 2023 and the deposit returned to state ownership before the current licensing round.
