MINEX Forum

Tag: Solidcore Resources

  • Kazakhstan Mining and Energy Companies Deploy AI to Improve Safety and Efficiency

    Kazakhstan Mining and Energy Companies Deploy AI to Improve Safety and Efficiency

    Industrial enterprises in Kazakhstan are increasingly deploying artificial intelligence systems to improve operational safety and efficiency, according to the Ministry of Industry and Construction.

    Several large digital initiatives are currently being implemented at facilities operated by Solidcore Resources. Four major projects aimed at automating safety and production processes are underway across the company’s mining and processing sites.

    At the Bakyrchik mining operation in the Abai region, an automated employee health monitoring system has already been launched. The system uses AI algorithms to assess workers’ physical condition before each shift.

    If the system detects high blood pressure, signs of fatigue or alcohol intoxication, the employee is automatically prevented from performing hazardous tasks.

    Solidcore Resources plans to expand the use of intelligent technologies at its other facilities, including the Varvarinskoye hub in Kostanay region and the Ertis Hydrometallurgical Plant in Pavlodar region.

    One of the upcoming systems will provide real-time personnel positioning, allowing the company to track the location of employees across industrial sites. Workers entering hazardous zones will receive automatic alerts warning them about potential risks.

    Another tool under development is a digital operator assistant designed to support personnel in making operational decisions. The system will recommend optimal technological parameters and help prevent equipment failures.

    By the end of the year, the company also plans to introduce an AI-based flotation monitoring system. The technology is expected to reduce reagent consumption and minimize metal losses during processing.

    Artificial intelligence is also being adopted by other companies within the sovereign wealth fund Samruk-Kazyna.

    The national mining company Tau-Ken Samruk is using an intelligent core analysis system that automatically identifies signs of mineralization from photographs of drill core samples.

    Meanwhile, Samruk-Kazyna Ondeu is developing a digital twin of its sulfuric acid plant in Stepnogorsk. The virtual model will simulate equipment performance and is expected to reduce operating costs by 5–8%, lower downtime by about 5%, and decrease accident rates by 2–3%.

    KazMunayGas is also expanding the use of AI technologies through its ABAI digital platform. The company reported that an AI-based waterflood management module helped generate an additional 12000 tonnes of oil production in 2025, delivering an economic benefit of approximately 1.5 billion tenge.

    Officials say the growing use of artificial intelligence across Kazakhstan’s mining, metallurgy and energy sectors is part of a broader push to modernize industrial operations and improve productivity.

  • Solidcore’s Ertis Hydrometallurgical Plant to Invest KZT 900m in Social Projects in Pavlodar Region

    Solidcore’s Ertis Hydrometallurgical Plant to Invest KZT 900m in Social Projects in Pavlodar Region

    Authorities in Kazakhstan’s Pavlodar region have signed a social memorandum with Ertis Hydrometallurgical Plant LLP, a flagship project of Solidcore Resources, outlining new investments in social and environmental initiatives.

    Under the agreement, the company will allocate approximately KZT 900 million toward socially significant projects in the city of Pavlodar. The funding will support capital repairs at three schools and two kindergartens, as well as broader improvements to the city’s social infrastructure.

    The memorandum also includes environmental commitments. As part of conservation measures, the project will finance the purchase of 65 units of specialised equipment for regional forestry and wildlife protection institutions.

    Vladimir Dudin, General Director of Ertis Hydrometallurgical Plant LLP, said the company aims to ensure that industrial development directly contributes to improving living standards in the region.

    “For us it is important to build a model of cooperation where industrial growth directly contributes to improving the quality of life for people. Social investment is not a one-time initiative but part of the company’s long-term strategy,” he said.

    Pavlodar regional governor Asain Baikhanov highlighted the importance of cooperation between government and business in achieving sustainable regional development.

    The Ertis Hydrometallurgical Plant is planned to become Kazakhstan’s first full-cycle facility for processing gold-bearing concentrates. The plant is scheduled to begin operations in 2028 and is expected to strengthen the country’s downstream processing capacity in the mining sector.

  • Solidcore Resources Extends $96 Million Loan to Bai Tau Minerals for Copper and Gold Exploration in Kazakhstan

    Solidcore Resources Extends $96 Million Loan to Bai Tau Minerals for Copper and Gold Exploration in Kazakhstan

    Solidcore Resources plc (“Solidcore”) has announced a $96 million investment loan to Bai Tau Minerals (BTM), a junior exploration company specializing in copper and gold projects in Kazakhstan. This partnership aims to unlock the country’s vast copper resource potential while providing Solidcore with strategic access to key mineral assets.

    BTM’s portfolio comprises over 15 copper-porphyry and gold projects spanning 1,000 km², including Besshoky in the Karaganda region and East Balkhash-2 in Jetisu, two advanced projects with significant resource potential. The three-year loan, secured by a pledge of interest in BTM and its subsidiaries, will fund further exploration activities.

    Vitaly Nesis, Group CEO of Solidcore Resources plc, described the agreement as an industry-recognized financing mechanism. He highlighted the deal’s value in providing risk-adjusted access to green metal resources and BTM’s expertise in mineral exploration.

    The loan also grants Solidcore a right-of-first-refusal (ROFR) on any ownership transactions involving BTM or its subsidiaries, ensuring strategic exclusivity on key assets. Furthermore, broad access to BTM’s financial and technical data will facilitate accurate project valuation and support future acquisition or investment decisions.

    This partnership positions Solidcore to benefit from potentially large copper resource discoveries with limited downside risk, enhancing its strategic focus on green metals for global markets.

     

  • Solidcore Resources Announces Strategic Exploration Partnership with Bai Tau Minerals

    Solidcore Resources Announces Strategic Exploration Partnership with Bai Tau Minerals

    Solidcore Resources plc has entered into a strategic partnership with Bai Tau Minerals (“BTM”), a Kazakhstan-based junior exploration company, by extending a US$96 million investment loan. This collaboration aims to accelerate the development of BTM’s portfolio of copper and gold projects in Kazakhstan, a region with significant untapped resource potential.

    “BTM is a team of experienced geology professionals working towards unlocking Kazakhstan’s significant copper resource potential. Our agreement represents an efficient, industry-recognized financing mechanism, enabling our partner to accelerate the resource assessment. In turn, it provides us with strategic risk-adjusted access to valuable green metals resources and BTM’s mineral exploration expertise,” said Vitaly Nesis, Group CEO of Solidcore Resources plc.

    BTM’s extensive portfolio spans over 15 copper-porphyry and gold projects, covering more than 1,000 square kilometers. Among its assets, Besshoky in the Karaganda region and East Balkhash-2 in the Jetisu region are at the most advanced stages, demonstrating significant resource potential.

    The US$96 million loan, secured by a pledge of interest in BTM and its subsidiaries, will fund exploration activities. The three-year loan term provides Solidcore with comprehensive access to BTM’s financial and technical data, enabling accurate project valuation and informed decisions on potential future investments.

    As part of the agreement, Solidcore has secured a right-of-first-refusal (ROFR) on transactions involving ownership interests in BTM or its subsidiaries funded by the loan. This provision grants Solidcore strategic exclusivity on key assets.

    The partnership underscores Solidcore’s strategic focus on green metals and the discovery of potentially large copper resources, offering significant upside potential while minimizing downside risk.

  • Solidcore Resources Acquires 55% Stake in Kazakhstan’s Only Tin Deposit

    Solidcore Resources Acquires 55% Stake in Kazakhstan’s Only Tin Deposit

    Solidcore Resources plc, a gold mining company, has announced the acquisition of a 55% stake in the Syrmbet tin deposit from Lancaster Group, as reported by Ulysmedia.kz. This undeveloped polymetallic deposit is the only one of its kind in Kazakhstan, primarily containing tin. Solidcore’s investment in the deposit will be $82.5 million, marking a notable development in a country with no prior tin production history. Lancaster Group had initially planned to invest $410 million in a concentrating plant, with financing from the Development Bank of Kazakhstan, but construction never commenced.

    Located in northern Kazakhstan, the Syrmbet deposit was discovered in 1985. In 1998, it was incorporated as AO Syrmbet and later rebranded as Tin One Mining in 2017. Currently, Berkut Mining, a subsidiary of Lancaster Group, is the sole shareholder of Tin One Mining.

    Previously known as Polymetal, Solidcore Resources relocated from Jersey to Kazakhstan and registered on the AIX exchange. Following U.S. sanctions on its Russian assets, Solidcore sold these to Russian company Mangazeya Plus for $3.69 billion. In 2024, a consortium of Omani investors, led by Maaden International Investment, acquired a 23.9% stake in Solidcore, formerly owned by Powerboom Investments. Solidcore’s CEO Vitaliy Nesis, a Russian entrepreneur, leads its development of Varvarinskoye and Bakyrchik mines in Kazakhstan.

    Lancaster Group, founded by four business partners in 2003, includes Nurlan Kapparov, Erbolat Dosaev, Berik Kaniev, and Yuri Pak. According to Forbes Kazakhstan, Kaniev and Pak share the 73rd position among Kazakhstan’s wealthiest individuals, each valued at $64 million. Lancaster Group’s portfolio includes Tin One Mining, oilfield services companies, and a stake in the Quantum Stem school network.

  • Title: Polymetal Announces Name Change to Solidcore Resources plc Amid Sanctions and Business Restructuring

    Title: Polymetal Announces Name Change to Solidcore Resources plc Amid Sanctions and Business Restructuring

    Gold mining company Polymetal has announced its intention to rename the business to Solidcore Resources plc, according to a release obtained by “Kursiva”. The move comes in the wake of U.S. sanctions following the sale of its Russian operations, which retained the name “Polymetal”. The company’s leadership is seeking shareholder approval for the new name. Polymetal’s release also highlights that the sale of its Russian business has significantly reduced debt and increased liquidity, necessitating investments of over $1 billion in projects in Kazakhstan and Central Asia, particularly the new Irtysh GOK and merger and acquisition deals. The company notes that due to ongoing complex geopolitical and macroeconomic conditions, and the lack of access to major debt financing sources, the board recommends not paying dividends for the year ending December 31, 2023. Polymetal has also completed its re-domiciliation from Jersey to the Astana International Financial Centre (AIFC) and is now listed on the AIX and Moscow Exchange.