MINEX Forum

Tag: investment

  • Kazakhstan to Auction 50 Mineral Deposits Including Gold, Copper, and Rare Earth Metals

    Kazakhstan to Auction 50 Mineral Deposits Including Gold, Copper, and Rare Earth Metals

    Kazakhstan is set to hold a large-scale electronic auction in June 2025, offering 50 solid mineral deposits, including gold, copper, coal, polymetals, and rare earth elements, according to Almas Kushumov, Director of the Subsoil Use Department at the Ministry of Industry and Construction. He made the announcement during the MINEX Kazakhstan forum.

    The rights will be granted for both exploration and extraction, with deposits containing balance reserves to be auctioned directly for mining. The full list of deposits is expected to be published in the coming days.

    Kushumov noted that 117 deposits were auctioned via e-auctions in 2023–2024, bringing in over 20 billion tenge in signing bonuses for the state. In 2024, 43 new deposits were officially registered, including 22 solid mineral sites. Resource growth figures include:

    • 20 tons of gold

    • 9,000 tons of silver

    • 48,000 tons of copper

    Kazakhstan’s current reserve lifespan is estimated at 33 years for gold and 44 years for copper, based on current production levels.

    Minister of Industry and Construction Kanat Sharlapayev previously stated that companies from the United States, the European Union, and China would be able to participate in the auctions for rare and rare earth metal rights. He emphasized that competition among major players in the global critical materials market—used in dual-use goods, renewable energy tech, electric vehicles, and more—could help maximize Kazakhstan’s revenues.

    Quote:

    “This will be a high-interest auction. The competition between Western countries and China in the rare earth sector gives us the opportunity to attract the best offers,” Sharlapayev said.

  • Kazakhstan Launches New Era of Resource Development at 15th MINEX Forum

    Kazakhstan Launches New Era of Resource Development at 15th MINEX Forum

    Date: April 9, 2025

    The 15th MINEX Kazakhstan Mining and Geological Forum is underway today in Astana under the theme: “A New Era of Kazakhstan’s Mineral Resource Development: From Exploration to Processing.”

    The event brings together around 100 speakers, 450 delegates, and 40 exhibitors from across Central Asia, Europe, North America, Africa, the Middle East, Australia, China, India, Malaysia, and Singapore.

    In her keynote address, Zhannat Dubirova, Vice Minister of Industry and Construction, highlighted recent digitalization milestones achieved in the country’s resource sectors:

    “Since the beginning of this year, we have launched the Unified Subsoil Use Platform, which now provides 22 digitized public services. So far, it has processed 506 applications. Investors can now apply directly through the portal to participate in auctions. In January, this led to $40 million in investments across 21 sites.”

    She also announced that manual oversight of more than 3,000 licenses and contracts related to solid mineral resources had been fully digitized.

    Almas Kushumov, Director of the Subsoil Use Department at the ministry, presented the results of state-led geological surveys:

    “There is growing business interest in resource development. Over the last two years, 117 subsoil plots and deposits were auctioned electronically, generating more than 29 billion tenge in subscription bonuses. In June 2025, we plan to auction 50 gold, silver, coal, and rare metal deposits.”

    The forum is also addressing pressing issues such as Kazakhstan’s role in global critical mineral supply chains, investment climate improvements, uranium sector development, and nuclear energy expansion.

    The event will conclude with a session on talent development and national capacity building, followed by a gala awards ceremony honoring achievements in the mining sector, hosted by the Mining Chamber of Kazakhstan.

    Kazakhstan’s mineral sector is undergoing a significant transformation, driven by government initiatives aimed at boosting economic growth, industrial diversification, and expanding geological exploration.

  • Uzbekistan’s AGMK Unveils Nation’s Largest Industrial Project in Copper Mining Sector

    Uzbekistan’s AGMK Unveils Nation’s Largest Industrial Project in Copper Mining Sector

    Uzbekistan’s Almalyk Mining and Metallurgical Complex (AGMK) recently hosted journalists on an exclusive press tour to showcase progress on the largest investment project in the country’s history, signaling a major leap in industrial development.

    The tour began at AGMK’s Engineering School, which trains specialists in geology, mining, metallurgy, and automation using methodologies from world-leading institutions like Germany’s Freiberg University of Technology. “We’re not just building factories—we’re cultivating the talent to run them,” said Behzod Salimov, the school’s director.

    Reporters then visited the Kalmakyr deposit, one of the world’s largest copper reserves, followed by the Yoshlik I mine, a gold-rich copper deposit spanning 4 km long and 235 meters deep. The site employs 400 heavy machines and has introduced an innovative conveyor system, cutting ore transport costs by 30%.

    A highlight was Copper Processing Plant No. 3, under construction since 2021 on a 200-hectare site. Once operational, it will process 60 million tons of ore annually, producing 894,000 tons of copper concentrate. Plans are also underway for Plant No. 4 and a new metallurgical complex, expected to create thousands of jobs.

    Tashkent Region Governor Zoir Mirzaev emphasized the project’s global significance, noting rising copper demand. AGMK Chairman Abdulla Khursanov added that the $multibillion investment is boosting Uzbekistan’s economic appeal, with several countries expressing interest in partnerships.

    The project is also spurring growth in auxiliary industries, including six new metalworks plants and a lime factory in Jizzakh to supply reagents.

    Sherzodkhon Kudratkhodja, head of Uzbekistan’s National Media Association, remarked: “This proves Uzbekistan can build its industrial future independently.”

  • Kazakhstan Explores Investment Opportunities with Turkey’s Çalik Holding

    Kazakhstan Explores Investment Opportunities with Turkey’s Çalik Holding

    Kazakhstan’s Minister of Industry and Construction, Ersayin Nagaspayev, held a meeting with Ahmet Çalık, Chairman of the Board of Çalik Holding, to discuss potential investment opportunities in the country’s industrial and mining sectors.

    Çalik Holding, a major Turkish financial-industrial group with an annual revenue of $2.5 billion, operates across 34 countries, including Central Asia, the Balkans, the Middle East, and Africa. The company specializes in resource extraction, construction, light industry, energy, and finance.

    The meeting focused on the group’s interest in investing in Kazakhstan’s economy, particularly in the mining sector. Çalik Holding is considering acquiring ready-to-extract deposits of precious and base metals such as gold, silver, copper, zinc, and lead, or conducting geological exploration in areas with high potential for mineral discovery.

    Both sides highlighted the strong potential for cooperation in industry, construction, mining, and geological exploration. Minister Nagaspayev emphasized that Kazakhstan has fully digitized its mineral rights application process through the unified “Minerals.e-qazyna.kz” platform. Additionally, the Ministry has prepared a list of 50 solid mineral deposits, which will be auctioned electronically in the second quarter of this year.

    At the conclusion of the meeting, both parties reaffirmed their interest in strengthening and expanding their partnership.

  • Kazakhstan to Invest Over 7 Billion Tenge in Geological Exploration Over Next Two Years

    Kazakhstan to Invest Over 7 Billion Tenge in Geological Exploration Over Next Two Years

    Kazakhstan has announced plans to allocate more than 7.6 billion tenge from the state budget for geological exploration and mineral resource studies in 2025-2026. According to the Ministry of Industry and Construction, the funds will be used for geological re-evaluation, mineragenic mapping, and deep-level mapping of the country’s territory. By the end of 2026, the geological and geophysical awareness of Kazakhstan’s land is expected to increase to 2.2 million square kilometers, up from 2 million square kilometers in 2023.

    The ministry highlighted Kazakhstan’s significant reserves of manganese ore, chromium, lead, zinc, titanium, and lithium. The country ranks second globally in manganese ore reserves, with 600 million tons, and eighth in iron ore deposits, with 12.5 billion tons. Additionally, Kazakhstan holds 30% of the world’s chromite ore reserves and boasts extensive deposits of lead and zinc.

    Kazakhstan also possesses the world’s largest chromium reserves and is the second-largest holder of uranium. Annual production includes 907.9 thousand tons of manganese ore, 6.1 million tons of chromium, 280 thousand tons of zinc, 110 thousand tons of lead, and 15 thousand tons of titanium.

    In efforts to attract investment, the ministry reported ongoing collaborations with the European Union, United States, United Kingdom, and other nations. Foreign companies are encouraged to participate in subsoil use auctions through a digital state platform. Furthermore, Kazakhstan officially joined the Minerals Security Partnership Forum in 2024, enhancing opportunities for projects and policy dialogues on critical minerals at both governmental and corporate levels.

  • Uzbekistan and Limaomaoli Metal Company Discuss Syurenota Iron Ore Project

    Uzbekistan and Limaomaoli Metal Company Discuss Syurenota Iron Ore Project

    On March 14, Uzbekistan’s Deputy Minister of Investments, Industry, and Trade, Ilzat Kasymov, met with Song Liping, CEO of Limaomaoli Metal Company, to discuss the development of the Syurenota iron ore deposit in the Tashkent region.

    The meeting covered the project’s progress, challenges faced by the investors, and potential areas for further cooperation. Representatives of the Chinese company expressed appreciation for the support received and reaffirmed their commitment to strengthening the partnership.

    Founded in November 2019, Limaomaoli Metal Company specializes in mineral exploration and iron ore extraction.

  • Adriatic Metals CFO Michael Horner Acquires 4,700 Shares

    Adriatic Metals CFO Michael Horner Acquires 4,700 Shares

    Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) has announced that its Chief Financial Officer, Michael Horner, has purchased 4,700 ordinary shares of the company. The transaction took place on the London Stock Exchange (LON:LSEG) on Monday, with share prices ranging between £2.01 and £2.02, totaling an investment of £9,449.

    Horner’s purchase is viewed as a positive indicator of confidence in the company’s future, as insider transactions by senior executives often signal strong internal expectations. Adriatic Metals, a key player in the mining industry, is required to publicly disclose such transactions to maintain transparency and investor trust.

    The notification marks Horner’s first reported share acquisition since assuming his role. Managing Director & CEO Laura Tyler was responsible for arranging and authorizing the announcement, ensuring compliance with regulatory requirements.

    By making this investment, Horner adds to the growing record of executive share dealings at Adriatic Metals, offering investors further insights into the leadership’s commitment to the company’s long-term success.

  • Kazakhstan’s Solidcore Resources Invests in Renewable Energy with Bank Loan

    Kazakhstan’s Solidcore Resources Invests in Renewable Energy with Bank Loan

    Solidcore Resources plc, a gold mining company, has announced a significant investment in renewable energy projects. The company has secured a seven-year loan from Kazakhstan’s CentreCredit Bank to fund several renewable energy initiatives.

    The funds will be used to launch renewable energy projects at the Bakyrchik and Varvarinskoye deposits. At Bakyrchik, a 17 MW solar power plant will be constructed, while at Varvarinskoye, a 23 MW solar plant will be built alongside a 40 MW gas piston unit to ensure energy supply during periods of low sunlight.

    Approval for infrastructure related to the Kyzyl project is expected to take place this year, with alternative energy generation expected to begin in 2026.

    This deal marks the first debt financing transaction after Polymetal International plc was rebranded and its key development strategy was updated. Going forward, Solidcore plans to collaborate with CentreCredit Bank and other local banks.

    The mining company estimates that atmospheric emissions will be reduced by 27% compared to 2023 levels. The renewable energy projects are expected to reduce dependence on external energy sources, particularly coal-fired power plants, and mitigate the impact of rising energy costs.

  • Metinvest’s Kamet-Steel Plant Announces Major Investment Program for 2025

    Metinvest’s Kamet-Steel Plant Announces Major Investment Program for 2025

    Kamet-Steel, a subsidiary of Metinvest Group, has unveiled an ambitious investment program for 2025 with a total planned budget exceeding 2.5 billion hryvnias (approximately $59.8 million). This significant investment comes as the company continues its systematic work towards construction and reconstruction to improve production reliability and efficiency, despite the ongoing challenging wartime conditions.

    Key highlights of the investment program include:

    1. Major overhaul of Blast Furnace No. 9, which will receive nearly one-third of the program’s budget.
    2. A pilot project to construct an alternative power station using solar panels, marking Metinvest’s first venture into this type of renewable energy project.
    3. Implementation of 114 investment projects of varying scales throughout the year.
    4. Capital repairs of key equipment in main production shops.
    5. Modernization of the energy infrastructure, with a focus on constructing new water pipelines.
    6. Initiation of the first launch complex for a large-scale project to build a new blast furnace gas collector.
    7. Modernisation of the drive control system for continuous casting machine No. 1.

    Mikhail Koptev, Director of Capital Construction and Investments at Kamet-Steel, emphasized that this year’s investment budget is the largest in recent years. He stated that a significant portion of the funds will be directed towards supporting and upgrading core production equipment, which will serve as a springboard for further development and modernization of the enterprise.

    The company expects that the restoration of production capabilities will allow Kametstal to renew its presence in existing markets and expand into new ones, thereby generating additional profit.

    This investment program demonstrates Metinvest’s commitment to maintaining and improving its production facilities, even in the face of ongoing challenges. It also aligns with the company’s broader strategy of expanding its market presence and investing in green steel technology, as evidenced by its recent focus on North Africa and Turkey for future growth.

  • Ukraine’s Critical Materials Sector: Challenges and Investment Opportunities

    Ukraine’s Critical Materials Sector: Challenges and Investment Opportunities

    Ukraine’s critical materials sector is at a crossroads as industry experts and policymakers seek solutions to investment barriers and economic growth challenges. The recent conference, Strategic Resources of Ukraine: Scenarios for the Development of the Subsoil Use Industry, held as part of the Economic Growth Strategy of Ukraine until 2040, outlined key issues and opportunities in the mining sector. The event was organized in collaboration with the Boston Consulting Group and the think tank We Build Ukraine.

    Ukraine’s mining industry, a major contributor to GDP and exports, is facing significant obstacles, including asset losses, supply disruptions, and infrastructure damage due to the ongoing conflict. While the Kryvyi Rih basin remains under Ukrainian control, non-ferrous metals, including rare earth elements and precious metals, present potential growth areas. However, challenges such as outdated geological data, a lack of strategic policies, and complex land acquisition processes hinder investment.

    On a global scale, access to critical raw materials is essential for industries, technological progress, and renewable energy development. However, risks such as high geographic concentration of production, lengthy project development times, and environmental concerns contribute to market volatility.

    To attract investors, Ukraine must address several barriers, including the absence of a clear state policy on critical materials, outdated classification systems, and limited support for businesses seeking mining rights. Additionally, the country lacks fiscal incentives, export support, and mechanisms to insure against war-related risks.

    Despite these challenges, Ukraine remains an attractive destination for investment in critical raw materials. By creating economic clusters and strengthening policies, the country can enhance its economic resilience, improve energy independence, and attract international investors. A strategic approach to resource development could unlock Ukraine’s vast raw material potential, contributing to long-term economic stability.