Australian Company C29 Metals to Explore Copper and Gold in Kazakhstan

Australian firm C29 Metals Limited has announced plans to launch a project aimed at exploring promising copper and gold deposits in Kazakhstan, Orda.kz reports.

According to the company’s statement, C29 Metals is establishing a joint venture with Astana-based Bask International Group Ltd. The new entity will focus on geological exploration at deposits considered to have the highest production potential.

C29 Metals will hold a 75% stake, while Bask International will own 25%. The Australian side will provide all initial financing.

The joint venture will be registered at the Astana International Financial Centre (AIFC) and operate independently of C29 Metals’ other projects. The formal agreement is expected to be signed within four weeks.

Commenting on the partnership, Bask International founder and venture investor Yerlan Isekeshev said,

Kazakhstan has almost every type of critical mineral needed for the global energy transition and industrial innovation. Our partnership with C29 is based on a clear vision: we want to ensure that these resources serve the benefit of our people and fuel Kazakhstan’s sustainable development,said Yerlan Issekeshev. 

C29 Metals Limited is an Australian exploration company primarily focused on uranium and copper projects.

James Philip Myers leads the company. This is not its first venture in Kazakhstan; last year, it announced plans to explore a uranium deposit in the Jambyl region. C29 Metals has a representative office in Astana and a subsidiary, Ulytau Resources, led by a Kazakhstani specialist.

Bask International Group Ltd, founded in January 2024, is an Astana-based holding company solely owned by Yerlan Isekeshev, a former top manager at Samruk-Energo and Transtelecom. He currently chairs the board of ISS Corporation and is a co-founder of the Kazakhstani marketplace Teez.

Original Author: Nikita Drobny