President Toqayev Met with Ivanhoe Mines Co-Chair Robert Friedland to Discuss Copper Exploration Project in Kazakhstan
Photo: Aqorda
On May 28, President Qasym-Jomart Toqayev met with Robert Friedland, Executive Co-Chair of the Board of Canadian mining corporation Ivanhoe Mines, Orda.kz reports.
Ivanhoe Mines will lead geological exploration at one of Kazakhstan’s largest copper deposits.
According to the Aqorda press service, Toqayev and Friedland discussed prospects for cooperation in the mining and metal processing sectors. Friedland informed the president that Ivanhoe Mines has begun exploration work in the Shu-Sarysu copper basin, considered the third-largest sediment-hosted copper deposit in the world.
Ivanhoe Mines has previously announced an initial investment of $18.7 million for geological study of the site, with plans to increase total investment to $115 million over the next four years. The project will utilize advanced airborne geophysical technologies and digital data analysis,
the statement from Aqorda said.
The deposit may contain up to 27 million tonnes of copper, with 25 million tonnes yet to be explored. If successful, the exploration and future mining could elevate Kazakhstan to a leading position in the global copper industry.
Ivanhoe Mines is a Canadian mining company with assets valued at approximately $2.5 billion. Its major projects are currently located in Africa, including the Kamoa-Kakula copper deposit in the Democratic Republic of Congo and the Platreef polymetallic deposit in South Africa.
Original Author: Nikita Drobny
Latest news
- Two Injured Russian Climbers Rescued From Almaty Mountains
- Kazakhstan Denies Reports of Full CPC Shutdown
- South Korea to Help Kazakhstan Forecast Demographic Change
- Almaty Waste Company Stake to Return to State After Undervalued Sale
- Inspection of Former Almaty Akim’s Family Project Declared Illegal
- Kazakhstan Could Refine Russian Oil as Russia Faces Fuel Shortages
- Who Is Behind the Company Searching for Copper Near Atbasar?
- Almaty Airport to Take Out $670 Million Loan
- Kazakhstani Woman Dies in Belgrade, Father Suspects Her Friends Were Involved
- Who Will Keep Health Coverage Under Kazakhstan’s New Rules?
- Fake Journalists Tricked Karaganda Official Into Taking Out Loan
- Pavel Durov Declared a “Terrorist” in Russia
- Lawsuit Pushes Oskemen Authorities to Adopt New Alert Rules After Kazzinc Explosion
- Emergency at Pavlodar Power Plant: Two Workers Seek Medical Help
- What Back-to-School Aid Has Been Promised to Vulnerable Families?
- Employment Falls at Kazakhstan’s Small and Medium Businesses
- How Much Will It Cost to Ride Astana’s LRT From August 1?
- KASE and AIX Record Sharp Rise in Trading Activity
- Ten-Year Record: More Kazakhstanis Are Losing Their Driver’s Licenses
- What Can Tourists Expect? Kazakhstan Approves New Rules for Visitor Centers
