Kazakhstan will carry out exploration and evaluation of potentially gold, silver and copper bearing subsoil areas

Almaty. June 15. Silkroadnews – JSC “Kazgeologiya” agreed on the joint projects implementation with “Polymetal” and LLP “Kazzinc”, KazTAG reports.

A memorandum was signed by the Chairman of the Board of JSC “Kazgeologiya” Galym Nurzhanov and Vitaly Nesis, head of “Polymetal”, at the VII International congress “Astana Mining&Metallurgy”. In particular, the parties agreed on exploration and evaluation of potentially gold, silver and copper bearing subsoil areas in the territory of Kazakhstan.

Also, G.Nurzhanov and “Kazzinc” Executive Exploration Director Vladimir Benes signed a memorandum of cooperation on the exploration of polymetallic ores in Kazakhstan. The parties plan to establish a joint working group and carry out a preliminary analysis of the geological data. “Kazzinc” LLP considers this project as a raw material base for further development of “Zhairem JGOK”.

According to the press release, the signed documents will make it possible to implement the joint projects to explore the new deposits in Kazakhstan.

JSC “National Geological Prospecting Company “Kazgeologiya”” was created in 2011. 100% of the shares owned by JSC “Samruk-Kazyna” have been placed in trust to the Ministry for Investment and Development.

“Polymetal” company is Russia’s largest producer of silver and gold.

“Kazzinc” company is a producer of zinc, lead, copper, gold and silver bullions, with 50.7% of shares that belong to the Swiss commodity trader “Glencore International Plc” and 29 % of shares – to JSC “Samruk-Kazyna”.