MINEX Forum

Tag: Pallas Resources

  • Kazakhstan at PDAC 2026: The Next Major Frontier for Mineral Discoveries?

    Kazakhstan at PDAC 2026: The Next Major Frontier for Mineral Discoveries?

    This year marked a significant milestone as the Kazakhstan Chamber of Mines took the lead as the official organiser of Kazakhstan Day — and what a resounding success the debut turned out to be!

    Despite a packed PDAC schedule, the session drew an impressive crowd of over 130 industry leaders, investors, and exploration experts. The atmosphere in the room confirmed one thing: the global mining community is paying very close attention to Central Asia.

    MINEX Forum was proud to support the event as the Official Media Partner, capturing the insights that are shaping the next wave of exploration in the region.

    Key Highlights from the Plenary Session: The tone was set by Ruslan Baimishev, President of the Kazakhstan Chamber of Mines:

    “Kazakhstan is entering a new era of exploration — driven by robust reforms, international partnerships, and the soaring global demand for copper and critical metals.”

    We also heard high-level perspectives from H.E. Dauletbek Kussainov, Ambassador of Kazakhstan to Canada, and Iran Sharkhan, Vice-Minister of Industry and Construction.

    Expert Insights & Project Showcases: The technical session, “Unlocking New Discovery Potential in Kazakhstan,” featured a stellar line-up including Tim Barry (Arras Minerals), Charlie Liu (Zijin Mining), Simon Cooper (Pallas Resources), and world-renowned experts Anna Fonseca and Professor Jeffrey Hedenquist.

    The afternoon shifted to tangible opportunities, with project presentations from AMG Ltd, Kogadyr Gold, Taskora, and Muzbel. As Tim Barry aptly put it: “Kazakhstan offers unique opportunities for Canadian juniors to enter new jurisdictions — and the future looks bright.”

    Kazakhstan is no longer just a “prospective” jurisdiction; it is rapidly becoming the territory where the next big copper success stories are being written.

    Special thanks to the Kazakhstan Day partners:

    • General Sponsors: Aurora Minerals Group, NAC Kazatomprom, Pallas Resources.

    • Sponsors: Arras Minerals, TauGold Copper.

    Missed the session?  📺 Watch the session recordings and download expert presentations at:

  • Pallas Resources Unveils Thick Copper Outcrop at Merke and Launches Drilling at Glubokoe

    Pallas Resources Unveils Thick Copper Outcrop at Merke and Launches Drilling at Glubokoe

    London, 3 September 2025 — Pallas Resources has announced the discovery of a substantial outcropping copper zone at its Merke and Lugovoe licences in southern Kazakhstan, alongside the commencement of first drilling at the Glubokoe Project in the western Chu-Sarysu Basin. Both developments mark significant milestones in the company’s strategic alliance with Ivanhoe Mines.

    Fieldwork at Merke has revealed a 20-metre-thick copper-bearing horizon within fractured carbonate rocks, exposed in a historic pit. The discovery confirms visible surface mineralisation, including malachite and azurite, and strongly supports the structural model guiding exploration. According to the company, the mineralisation is thought to be structurally controlled, with fractures and faults serving as conduits for copper-bearing fluids.

    The Lugovoe licence, recently granted to the Pallas–Ivanhoe partnership, extends prospective stratigraphy by a further 40 kilometres to the west. Early reconnaissance has already identified surface copper mineralisation, with fold zones appearing to act as structural traps. Upcoming work will focus on detailed structural mapping, complemented by high-resolution magnetic surveys to trace mineralisation beneath cover.

    Meanwhile, drilling has commenced at Glubokoe, a 2,500 km² project in the western Chu-Sarysu Basin. The programme will comprise five diamond drill holes, each between 800 and 1,000 metres deep, totalling around 4,200 metres. The first hole is targeting extensions of mineralisation first recorded by Soviet geologists in the 1980s, where three copper-bearing intervals were intersected over a total of 26 metres, with grades ranging from 0.12% to 3% copper.

    Simon Cooper, Chief Executive of Pallas Resources, described the start of drilling as a “key milestone,” coming less than a year after the partnership with Ivanhoe Mines was formalised. Results from the current campaign are expected by late December and will help inform a planned 15,000-metre drilling programme in 2025.

    The Chu-Sarysu Basin is recognised as the world’s third-largest sediment-hosted copper province, already hosting more than 27 million tonnes of discovered copper, with the US Geological Survey estimating a further 25 million tonnes yet to be found.

    Pallas holds over 16,000 km² in the basin, making it the leading explorer in this emerging copper district. Under the terms of the alliance, Ivanhoe Mines will sole-fund $18.7 million during the initial phase, with the option to invest up to $115 million over four years.

  • Ivanhoe Mines and Pallas Resources Launch Major Copper Exploration in Kazakhstan

    Ivanhoe Mines and Pallas Resources Launch Major Copper Exploration in Kazakhstan

    Canadian mining company Ivanhoe Mines and UK-based Pallas Resources have announced a joint venture for geological exploration in the Chu-Sarysu Copper Basin in Kazakhstan, according to Interfax-Kazakhstan.

    The Chu-Sarysu Basin is the third-largest sedimentary-hosted copper basin in the world. Experts predict that this project could lead to one of the biggest copper discoveries in Central Asia in recent decades.

    The companies have secured the largest exploration license package in Kazakhstan, covering 16,000 square kilometers—a scale comparable to Ivanhoe Mines’ past exploration projects in Mongolia and the Democratic Republic of Congo.

    According to Robert Friedland, founder of Ivanhoe Mines, Kazakhstan has the potential to become a global hub for copper production. The U.S. Geological Survey estimates that the Chu-Sarysu Basin holds up to 25 million tons of copper resources.

    While the exact start date for exploration has not been disclosed, the companies plan to invest $18.7 million in the first two years. The project will utilize advanced airborne geophysical technologies and digital data analysis, elevating Kazakhstan’s geological exploration to a new level.

  • Ivanhoe Mines Expands Kazakhstani Footprint with Exploration for Sediment-Hosted Copper

    Ivanhoe Mines Expands Kazakhstani Footprint with Exploration for Sediment-Hosted Copper

    On 12 February 2025 Ivanhoe Mines announced the commencement of exploration activities for sediment-hosted copper in Central Kazakhstan. The company has formed a joint venture with UK-based Pallas Resources to explore the Chu-Sarysu Copper Basin, which is the world’s third-largest sedimentary copper district.

    The exploration license covers an extensive area of up to 16,000 square kilometers, making it the largest land-holding position in the region. Ivanhoe Mines has committed an initial investment of C$18.7 million ($13 million) for exploration activities over the next two years. The company has the option to increase its stake in the joint venture up to 80% over time.

    Ivanhoe Mines aims to leverage its expertise in discovering Tier-One sediment-hosted copper deposits, similar to its successful projects in the Democratic Republic of Congo. The Chu-Sarysu Basin is estimated to contain 27 million tonnes of known copper resources, with an additional 25 million tonnes of undiscovered copper.

    Robert Friedland, Ivanhoe Mines’ Executive Co-Chairman, expressed excitement about the project, stating, “We look forward to unlocking the significant geological potential of the Chu-Sarysu Basin and contributing to the global copper supply.” This strategic partnership marks a significant step for Ivanhoe Mines in expanding its global footprint and advancing its copper exploration portfolio.

    Who is Robert Friedland? 

    Robert Martin Friedland (August 18, 1950)[1] is an American-Canadian billionaire financier in the mining industry. Since the early 1980s, he has specialised in securing funding for the exploration and development of mineral and energy resources and technology ventures. He is the founder and chairman of his private, family-owned firm, Ivanhoe Capital Corporation, which is active in capital markets, focused on emerging markets. He is the founder and co-chairman of Ivanhoe Mines, a Canadian public company listed on the Toronto and OTCQX exchanges.

    Friedland’s involvement in Kazakhstan dates back to the 1990s when his company, Indochina Goldfields, entered into agreements with the Kazakh government and major shareholders of Bakyrchik Gold. This partnership marked the beginning of Friedland’s significant presence in the Kazakh mining sector. The Bakyrchik gold mine, located in northeastern Kazakhstan, was a key asset, providing gold-bearing flux to copper smelters since 1956.

    Another major project was the Vasilkovskoye mine in northern Kazakhstan, considered one of the world’s largest gold mines. Despite initial setbacks with the Kazakh government, Friedland’s companies maintained their holdings in the region, navigating the complex political and economic landscape.

    By 2010, Kazakhstan’s economy was booming due to massive oilfield discoveries, making it a strategic player in the global energy market. In addition to oil, Kazakhstan had substantial uranium reserves, further solidifying its importance in the energy sector.

    Friedland’s Ivanhoe Mines, in partnership with Altynalmas Gold, consolidated their interests in the Kyzyl Gold Project, which included the Bakyrchik and Bolshevik deposits. With an established infrastructure and promising gold recovery rates, the project was poised to become one of Central Asia’s leading gold producers.

    Friedland’s vision and strategic investments in Kazakhstan’s mining sector not only highlighted the nation’s mineral wealth but also positioned it as a key player in the global energy and mining industries.

    Read further

  • Pallas Resources partners with Ivanhoe Mines to explore Kazakhstan’s untapped copper potential

    Pallas Resources partners with Ivanhoe Mines to explore Kazakhstan’s untapped copper potential

    Pallas Resources Limited, a Central Asian explorer, has announced a strategic alliance and joint venture agreement with Ivanhoe Mines, a leading global copper explorer and producer, to explore the vast copper potential within Kazakhstan’s Chu-Sarysu Basin.

    This significant partnership aims to unlock the potential of one of the world’s largest and most promising sediment-hosted copper basins, which boasts an estimated 27 million tonnes of known copper with an additional 25 million tonnes remaining undiscovered.

    Key Highlights:

    • Dominant Land Holding: The alliance controls over 16,000 square kilometers of highly prospective land within the basin, making it the largest landholding position in the region.
    • Strategic Funding: Ivanhoe Mines will initially sole-fund $18.7 million over two years, with an option to invest up to $115 million over four years to earn a 51% stake in the joint ventures.
    • Focused Exploration: The partnership will focus on large-scale geophysics, reconnaissance mapping, and geochemical campaigns to identify high-potential targets.
    • World-Class Expertise: The alliance combines Pallas’ extensive datasets and local knowledge with Ivanhoe Mines’ world-renowned expertise in sediment-hosted copper exploration, demonstrated by their discovery of the Kamoa-Kakula complex – now the third largest copper mine globally.

    Strong Belief in Kazakhstan’s Potential:

    Simon Cooper, CEO of Pallas Resources, expressed confidence in Kazakhstan’s mineral potential: “This partnership represents a significant commitment to greenfields exploration at a time when the sector remains hesitant to take such bold steps. We are convinced that Kazakhstan holds the potential for multiple major new mineral discoveries.”

    Robert Friedland, Co-Chairman of Ivanhoe Mines, emphasized the strategic significance of the venture: “This partnership marks an exceptional opportunity for Ivanhoe to leverage our expertise in one of the world’s most prospective sedimentary copper basins.” He added, “With our unwavering commitment to sustainable development, we aim to create lasting economic opportunities for Kazakhstan and its communities.”

    Next Steps:

    Pallas and Ivanhoe Mines are actively preparing for the 2025 field season, with detailed information on specific project areas to be released shortly.

    About Pallas Resources:

    Pallas Resources is a Central Asian explorer specializing in identifying large-scale mineral systems in underexplored regions of Central Asia, primarily Kazakhstan.

    About Ivanhoe Mines:

    Ivanhoe Mines is a Canadian mining company focused on developing its sophisticated copper, nickel, palladium and zinc projects in Southern Africa.

  • Pallas Resources Selected to Participate in the BHP Xplor Program in Kazakstan

    Pallas Resources Selected to Participate in the BHP Xplor Program in Kazakstan

    Revolutionising Mineral Exploration with Innovative Strategies

    Pallas Resources, a Central Asian explorer, is redefining mineral exploration with its disciplined and strategic approach. Focusing on the under-explored yet highly prospective regions of Kazakhstan, Pallas is at the forefront of uncovering large-scale systems of copper, gold, nickel, and lithium. These efforts are not merely exploratory but a leap towards realizing the untapped potential of regions that were once renowned for their Tier 1 Soviet-era discoveries.

    BHP Xplor Program: A Gateway to Unprecedented Opportunities

    The inclusion of Pallas Resources in the prestigious 2024 BHP Xplor program marks a significant milestone for the company. This global accelerator program, initiated by BHP, the world’s largest mining entity, targets innovative, early-stage mineral exploration companies. The objective is clear: to discover the critical resources essential for advancing the energy transition.

    Strategic Collaboration and Advanced Exploration Techniques

    The BHP Xplor program provides an exclusive opportunity for Pallas Resources to collaborate with leading experts in the field. This six-month engagement involves interdisciplinary workshops, where knowledge and expertise are shared across BHP’s extensive network and the exploration cohort. Such collaboration is not only about sharing ideas but also about de-risking geological concepts and testing new theories in mineral exploration.

    Financial Backing and Non-Dilutive Funding

    Pallas Resources benefits from a substantial financial boost, receiving up to US$500,000 in non-dilutive funding from the BHP Xplor program. This funding is pivotal for accelerating exploration activities over a defined area of interest, particularly in the pursuit of significant copper systems. Importantly, this agreement does not entail equity acquisition by BHP in either Pallas or any of its projects.

    Data-Driven Exploration and Big-Picture Approach

    The success of Pallas Resources in securing a place in the BHP Xplor program is largely attributed to its extensive digitized datasets and holistic approach to mineral systems targeting. This data-driven method ensures a more accurate and efficient exploration process, setting a new standard in the industry.

    Future Outlook: Testing New Concepts and Making Major Discoveries

    Simon Cooper, CEO & Director of Pallas Resources, expresses his enthusiasm for the company’s participation in the BHP Xplor program. This involvement is a testament to Pallas’s commitment to unlocking Kazakhstan’s significant, yet unrealized, mineral potential. The use of the program’s proceeds will be instrumental in accelerating exploration efforts and testing innovative concepts, particularly in the quest for major copper discoveries.

    BHP: A Leader in Mining and a Catalyst for Change

    BHP, the initiator of the Xplor program, stands as the world’s largest mining company and a top producer of iron ore, copper, nickel, and metallurgical coal. With its diverse portfolio of tier 1 assets globally, BHP is not only a leader in the mining industry but also a catalyst for change and innovation. The Xplor program, launched in 2023, is a clear indication of BHP’s commitment to fostering collaboration and advancement in the mineral exploration sector.