MINEX Forum

Website: Kazakhstan.com

  • Kyrgyzaltyn Secures Exploration Rights for Iron and Titanium at Bala-Chichkan Deposit

    Kyrgyzaltyn Secures Exploration Rights for Iron and Titanium at Bala-Chichkan Deposit

    Kyrgyzaltyn OJSC has been officially granted the rights to conduct geological exploration for iron, titanium, and vanadium at the Bala-Chichkan deposit, following a resolution signed by the Chairman of the Cabinet of Ministers, Adylbek Kasymaliev. This development marks a significant step in the exploration of mineral resources in Kyrgyzstan, particularly in the Talas region, where the deposit is located.

    The Bala-Chichkan area spans approximately 4,361 hectares and is estimated to contain around 1 million tons of iron reserves. This discovery could potentially enhance the country’s mining sector and contribute to the local economy. The exploration rights are part of a broader initiative to tap into Kyrgyzstan’s rich mineral resources, which have remained underutilised for years.

    Before commencing exploration activities, Kyrgyzaltyn is required to consult with the relevant state authority responsible for cultural heritage to ensure that no historical or cultural sites are affected by the exploration. This precaution underscores the importance of balancing economic development with the preservation of cultural heritage in the region.

    The granting of these rights is expected to attract further investment into Kyrgyzstan’s mining industry, which has been identified as a key area for economic growth. As the country seeks to modernise its mining practices and increase production, the focus on sustainable and responsible exploration will be crucial in ensuring long-term benefits for the local communities and the environment.

  • New Uranium Complex Launched at Zhalpak Mine in Kazakhstan

    New Uranium Complex Launched at Zhalpak Mine in Kazakhstan

    The mining company ‘Ortalyk’ has officially launched a new uranium processing complex at the Zhalpak mine, with an initial capacity of 500 tonnes of uranium per year. This development is part of a broader project aimed at enhancing the production infrastructure, ultimately targeting a project capacity of 900 tonnes annually.

    Gumar Sergazin, Deputy Chairman of the Atomic Energy Agency, highlighted the significance of developing uranium mining enterprises and exploring new deposits to strengthen Kazakhstan’s mineral resource base. He expressed confidence that this new phase of the Zhalpak mine’s development will not only boost the company’s production capabilities but also contribute to the growth of the nuclear sector in Kazakhstan. Additionally, it was reported that Kazatomprom has added six new promising uranium sites to its portfolio, indicating a strategic move towards expanding the country’s uranium mining operations. This initiative aligns with Kazakhstan’s goals to enhance its position in the global uranium market, given its status as one of the leading producers of uranium worldwide.

  • Shugyla Gold to Commence Gold Production at Akdingek Deposit in 2027

    Shugyla Gold to Commence Gold Production at Akdingek Deposit in 2027

    Shugyla Gold LLP is set to begin gold extraction at the Akdingek deposit in the Zharminsky district of the Abai region, with production slated to start in 2027. The company plans to extract 100,000 tonnes of gold-bearing ore annually, utilising open-pit mining techniques and employing blasting operations. The mine is expected to operate for five years, from 2027 to 2031, with a daily production capacity of 137 tonnes.

    The geological structure of the Akdingek deposit allows for open-pit mining to a depth of 40 metres. While the specific gold content in the ore has not been disclosed, the project documentation indicates that mining operations will be conducted in shifts, with a continuous work schedule throughout the year. The site will be powered by a diesel-electric station.

    In January 2025, Shugyla Gold announced plans to extract placer gold from the valleys of the Büyük and Colorado rivers, also located in the Zharminsky district. This area is part of the Boko-Vasilyevsky ore field, with confirmed reserves estimated at 905,100 cubic metres of ore, containing 202.4 tonnes of pure gold at an average concentration of 0.224 grams per cubic metre.

    The company aims to mine 392,700 cubic metres of ore from this site between 2026 and 2028. However, financial reports for 2024 indicate that Shugyla Gold incurred a loss of 4.8 billion tenge, a significant increase from a loss of 200.1 million tenge in 2023. Despite these losses, the company reported its first revenue of 281.1 million tenge in 2024, marking a shift from its previous focus solely on mineral exploration.

    Shugyla Gold is owned by Shugyla Kent LLP, both of which are registered at the same address in the Akzhal village of the Zharminsky district. Shugyla Kent also owns KST Production, based in Ust-Kamenogorsk, which is managed by Tazlime Sarsebaeva and Abzal Nuriyev.

  • Qarmet Recycling Launches Aluminium and Metal Recovery Plant in Kazakhstan

    Qarmet Recycling Launches Aluminium and Metal Recovery Plant in Kazakhstan

    Qarmet Recycling, formerly known as Recycling Company, has unveiled plans for a new facility aimed at recycling metals, including aluminium, from old vehicles. Located in the village of Doskey in the Bukhar-Jyrau district of the Karaganda region, the plant is part of Kazakhstan’s industrial and innovative development programme. The facility, which was established on June 15, 2016, has recently undergone ownership changes and is now under the management of Qarmet, which acquired the property in 2024.

    The primary operations of the plant involve the production of cast iron, steel, aluminium, and non-ferrous metal alloys from scrap materials derived from decommissioned vehicles, special machinery, and agricultural equipment. The recycling process includes melting metals and converting waste oils into fuel and gas, as well as processing hydrocarbon-containing waste, such as used tyres, into usable energy sources. This shift in focus comes as the company adapts to new emission standards that were revised following changes in ownership and operational scope.

    With an annual processing capacity of up to 80,000 tonnes of end-of-life vehicles (ELVs), the plant is expected to yield approximately 63,750 tonnes of ferrous scrap and 16,250 tonnes of other materials annually. The facility sources its raw materials through a tendering process involving both individuals and legal entities. However, the actual volume of recycling and the specific client list are contingent upon the outcomes of these competitive procedures.

    In addition to vehicle recycling, the plant has the capability to process up to 14,000 tonnes of oil-containing waste per year, including 7,000 tonnes of used oils and lubricants from its pyrolysis facilities. The facility also handles solid hydrocarbon waste, such as tyres, with a processing capacity of up to 9,000 tonnes annually. The output from these operations includes up to 6,000 tonnes of liquid pyrolysis fuel and between 3,500 to 4,500 tonnes of fuel oil each year, along with 600,000 cubic metres of fuel gas.

    Before recycling, vehicles undergo a preparation process where oils and technical fluids are removed. The vehicles are then compressed into briquettes, which are sorted and processed into different categories of metals and other materials. The plant features advanced shredding and melting equipment, including two induction furnaces capable of producing 2,000 tonnes of metal annually. The melted metal is then cast into moulds for further use.

    Qarmet Recycling is part of the Qarmet group, owned by entrepreneur Andrei Lavrentev, who ranks 11th on Forbes’ list of Kazakhstan’s wealthiest individuals, with a net worth of $877 million.

  • Norterra Resources: Early-Stage Mining Opportunities in Central Asia

    Norterra Resources: Early-Stage Mining Opportunities in Central Asia

    In the world of mining, the most intriguing opportunities often lie in the shadows, waiting to be discovered. This sentiment resonates deeply with the team at Norterra Resources, where the focus is on early-stage exploration in regions like Central Asia and Africa. The thrill of examining geological data, historical work, and promising indicators is what drives their exploration efforts. At Norterra, the journey begins with a thorough review and screening of potential projects, seeking those where geology, scale, and exploration potential converge.

    One such project is A14-KZ-0325, a copper-zinc exploration asset located in East Kazakhstan’s Rudny Altai metallogenic belt. Historical assessments suggest the presence of a mineralized system that extends for up to 2 km at the surface, with impressive reported grades of up to 2.35% zinc and 1.36% copper. However, the objective at this stage is not to assert that the answers are already known; rather, it is about identifying the right questions worth pursuing and understanding where further exploration could yield significant value.

    This approach encapsulates the essence of early-stage mining: the ability to uncover potential before it becomes apparent to the broader market. Norterra Resources is committed to this philosophy, continuously seeking out opportunities that may not yet be on the radar of other industry players. As they delve deeper into their portfolio, more insights and developments are expected to emerge, highlighting the importance of early exploration in the mining sector. The excitement of finding hidden gems in the mining landscape is what keeps the industry vibrant and full of possibilities.

  • Teako Minerals Launches Field Program at Tynset Copper-Zinc-Silver Project in Norway

    Teako Minerals Launches Field Program at Tynset Copper-Zinc-Silver Project in Norway

    Teako Minerals Corp. has officially commenced its 2026 field program at the Tynset copper-zinc-silver (Cu-Zn-Ag) volcanogenic massive sulphide (VMS) project located in central Norway. This initiative aims to enhance the company’s existing geological datasets and establish high-priority drill targets in the Storbekken Priority 1 target area. The field program will encompass detailed geological mapping, systematic sampling, and an Induced Polarization (IP) geophysical survey, with the first diamond drilling expected to begin between Q4 2026 and Q1 2027.

    In addition to the fieldwork, Teako has expanded the Tynset Project by securing four new exploration licenses that cover the high-priority Nonsvola and Vingelen target areas, thereby increasing the strike length of the prospective volcanic belt. The company has engaged Geovisor Oy to conduct approximately 10 line kilometres of IP surveying, set to commence in mid-October 2026, which will play a crucial role in refining drill targets.

    The 2026 field program is designed to improve the understanding of the geological and structural characteristics of the area, focusing on the identification of key lithological contacts and the characterization of mineralized outcrops. The integration of geochemical and spectral data will enhance the interpretation of geophysical results, ultimately guiding the drilling efforts towards the most promising areas.

    The Tynset Project, which is 100% owned by Teako, spans 121 square kilometres and includes 14 granted exploration claims. It is strategically located near established infrastructure, including a railway and national road, facilitating access to deep-sea ports. Historical data from previous exploration efforts indicate a favourable geological setting for Cu-Zn-Ag VMS mineralization, with significant soil and stream sediment anomalies suggesting the potential for new discoveries.

    Teako’s commitment to leveraging advanced exploration technologies and strategic partnerships underscores its goal of addressing the increasing demand for critical minerals while delivering value to shareholders. The company’s focus on the Tynset Project, alongside its broader portfolio of over 60 projects in Norway, positions it well within the competitive landscape of mineral exploration and development.

  • Challenges Facing Ferrexpo and Metinvest Amid Black Sea Port Blockade

    Challenges Facing Ferrexpo and Metinvest Amid Black Sea Port Blockade

    The ongoing blockade of the Black Sea ports has severely impacted Ukraine’s mining and metallurgy sectors, particularly affecting major players like Ferrexpo and Metinvest. The closure of these ports has not only disrupted agricultural exports but has also halted the maritime export of iron ore, which is crucial for the economy. Ferrexpo has been forced to suspend production at its Poltava mining and processing plant, while Metinvest has temporarily halted operations at its Southern Mining and Processing Plant (Southern GOK).

    Before the war, Ukraine produced a record 81.2 million tonnes of iron ore in 2021, with a significant portion exported to China. However, the onset of the conflict led to a drastic decline in production and exports, dropping nearly 2.5 times due to the loss of key domestic buyers and the blockade of maritime routes. The only alternative has been to redirect iron ore exports via rail to the European Union, but this has proven economically unfeasible due to high logistics costs.

    The situation briefly improved in late 2023 when a maritime corridor reopened, allowing for a resurgence in exports. However, this recovery was short-lived, as Russian attacks on energy infrastructure led to rising electricity costs, which account for a significant portion of production expenses. The combination of low global iron ore prices and high transportation costs has made it difficult for Ukrainian companies to compete with Australian and Brazilian producers.

    As of early 2026, the situation remains dire, with exports dropping by 27.3% in the first half of the year. Ferrexpo, lacking its own steel production facilities in Ukraine, is particularly vulnerable, relying entirely on exports. The company has warned that without additional funding and the resumption of full-scale shipments, it may only have enough resources to operate until mid-September. Meanwhile, Metinvest, which has its own steel mills, is also facing challenges, including a significant reduction in production and increased transportation costs due to the blockade.

    Experts warn that the continued closure of maritime routes threatens the macroeconomic stability of Ukraine, with the potential for widespread plant shutdowns if the situation does not improve soon. The reliance on European markets is not a viable long-term solution, as the logistics and costs associated with land transport are prohibitive. The Ukrainian mining sector is at a critical juncture, with the need for government intervention and support to mitigate the impact of these challenges on the industry and the economy as a whole.

  • European Lithium Prepares for Merger with Critical Metals Amid Shareholder Movements

    European Lithium Prepares for Merger with Critical Metals Amid Shareholder Movements

    European Lithium is gearing up for a significant merger with Nasdaq-listed Critical Metals Corp., with a crucial deadline approaching in September. The company has filed an application with the Australian Securities Exchange to list 193,019 new shares, a move that reflects confidence from its directors who have exercised options at A$0.08 per share. This decision indicates management’s belief in the company’s future, even as it prepares for a shift in ownership structure due to the merger.

    The merger will see Critical Metals acquire all outstanding shares and options of European Lithium through two interlocking schemes of arrangement under Australian law. Shareholders of European Lithium will receive 0.035 shares of Critical Metals for each share they hold, resulting in approximately 41% ownership of the new entity. The total valuation of the merger is estimated at around US$835 million. A variation agreement signed in July has introduced a special sale facility for shareholders with smaller holdings, allowing for cash returns instead of shares.

    As the merger approaches, European Lithium’s financial health appears stable, with A$306 million in cash and US$11 million in marketable securities as of March 31, 2026. However, the recent share issuance ahead of the merger could complicate the exchange ratio calculations for investors.

    At the heart of this merger is the Tanbreez rare earth project in Greenland, which Critical Metals is advancing. The project is gaining momentum, with operational progress reported, including active drill rigs and preparations for a pilot plant. A US$30 million acceleration program has been approved, aiming for first ore production by late 2028 or early 2029.

    Analysts are divided on the outlook for Critical Metals, with some expressing optimism about the Tanbreez project’s potential, while others have downgraded their ratings due to concerns over project timelines. This divergence in analyst opinions is likely to impact European Lithium’s valuation post-merger.

    Recent trading activity has seen European Lithium’s share price fluctuate, with a notable drop of 4.2% recently, although the stock has seen substantial gains over the past year. As the merger deadline approaches, the decisions of shareholders will be critical in determining the outcome of this significant corporate transaction.

  • The Role of SKZ-U in Kazakhstan’s Uranium Industry: A Comprehensive Overview

    The Role of SKZ-U in Kazakhstan’s Uranium Industry: A Comprehensive Overview

    The uranium industry in Kazakhstan is not solely about the extraction of raw materials; it encompasses a complex network of enterprises that support the production process. One such enterprise is SKZ-U LLP, located in the Kyzylorda region, which specializes in the production of sulfuric acid, a critical technological reagent for uranium mining companies under Kazatomprom. As the national operator for the export and import of natural uranium and its compounds, Kazatomprom is the world’s largest producer of natural uranium, leveraging one of the largest resource bases in the industry.

    Kazatomprom employs in-situ recovery technology, which allows for uranium extraction directly from the ore-bearing horizon. This method involves injecting special solutions through wells to convert uranium from minerals into a solution, which is then extracted. Sulfuric acid plays a vital role in this process, creating the necessary chemical conditions for uranium leaching. Therefore, the production of sulfuric acid at SKZ-U is integral to the uranium extraction process, ensuring a consistent supply for operations utilizing this technology.

    Founded in 2007 with the participation of Kazatomprom, SAP-Japan Corporation, and UrAsia London Limited, SKZ-U began construction of its sulfuric acid plant in 2010, reaching a designed capacity of 500,000 tonnes per year. The plant commenced industrial operations in 2013 and has since maintained a production capacity of approximately 1,500 tonnes per day. The facility includes a sulfuric acid workshop, an energy complex, and infrastructure for employee accommodation, alongside initiatives for renewable energy generation.

    The production process at SKZ-U is highly efficient, with a raw material conversion rate of 99.7%. The primary raw material, granulated sulfur, is sourced from Samruk-Kazyna Ondeu, which acquires it from Tengizchevroil. The manufacturing process involves several chemical transformations, ultimately producing sulfuric acid while simultaneously harnessing the heat generated for steam and electricity production. This dual approach not only meets industrial demands but also promotes energy efficiency.

    Since 2013, SKZ-U has generated its own electricity, and in 2014, it established a solar power station with a capacity of 418 kW, aligning with Kazakhstan’s transition to a green economy. The plant employs 277 individuals, with a significant majority residing in the local area, reflecting the company’s commitment to regional development and social responsibility.

    SKZ-U has implemented various social support initiatives, including special payments for employees working in hazardous conditions and health-related programs. The company also actively engages in community support, participating in charitable initiatives and providing assistance to vulnerable populations.

    As SKZ-U continues to evolve, it has become a vital link in the broader industrial chain, integrating the oil and gas, chemical, energy, and uranium sectors. The company remains focused on ensuring stable production, product quality, and reliable supply for uranium mining enterprises while advancing technology, safety, and social infrastructure. This interconnectedness within the production chain is essential for the industrial resilience of Kazakhstan’s uranium sector.

  • Navoiyuran Reports 136% Surge in Net Profit for H1 2026

    Navoiyuran Reports 136% Surge in Net Profit for H1 2026

    Navoiyuran, a state enterprise in Uzbekistan, has reported a remarkable 136.1% increase in net profit for the first half of 2026, reaching nearly 4.3 trillion soums. This significant growth is compared to the 1.8 trillion soums recorded during the same period in 2025. The company’s net revenue also saw a substantial rise, growing by 101.8% year-on-year to 9.7 trillion soums, while gross profit surged by 109.1%, exceeding 7 trillion soums.

    The financial health of Navoiyuran has improved markedly, with total assets climbing to 19.8 trillion soums, reflecting a 70.5% increase from the previous year. Capital has also risen by 60.1% to 15 trillion soums, and retained earnings have increased by 73.3% to reach 13.3 trillion soums. Over the past year, the enterprise’s total profit amounted to 7.9 trillion soums, which is 56.6% higher than the previous year.

    However, the company has also seen an increase in long-term bank loans, which rose to 3.6 trillion soums by the end of the reporting period, compared to 1.6 trillion soums a year earlier. This increase in debt may be a point of concern as the company prepares for future growth.

    Looking ahead, Navoiyuran is planning to conduct an initial public offering (IPO) in the latter half of 2026, aiming to offer between 10 to 15 percent of its shares. Despite these ambitious plans, the company has yet to transition from a state-owned enterprise to a joint-stock company, which is a crucial step before the IPO can take place. The expected IPO could provide Navoiyuran with additional capital to further enhance its operations and financial standing in the competitive mining sector.