Kazgeology and Kazzinc established a joint venture
On May 2, 2018 Kazgeology JSC and Kazzinc Ltd held a general meeting of founding members related to establishing AltaiGeo Ltd joint venture, aimed at implementation of projects on prospecting of sulphide-polymetallic ores in East Kazakhstan region (Ivanovskaya, Prigranichnaya, Sakmarikhinsko-Chernoubinskaya and Khamirskaya areas), as well as on prospecting of gold, copper and polymetals on Kokshetauskaya area in Akmola and North-Kazakhstan regions. The total area of sites makes up 3,690 sq. km. Total amount of investments: KZT3,5 billion. Kazzinc company will finance the prospecting works.
Let's remind that the negotiating process between the two companies has been begun in 2017 and already this summer the joint venture will be launched. More than KZT500 million will be spent for the prospecting works during the first year.
All projects will contribute to sustaining the social and economic activity of such monotowns as Ridder, Ziryan.
Kazzinc is a Kazakhstan mining company, a subsidiary of the Swiss concern Glencore International where work more than 20,000 people representing over 500 different professions.