ASTANA, Kazakhstan, February 14. Ivanhoe Mines, a Canadian company and one of the world’s leading mining companies and discoverer of the largest copper deposits of the 21st century, announces the start of geological exploration in the Chu-Sarysu copper basin in Kazakhstan – the third-largest sedimentary copper basin in the world, TurkicWorld reports via Ivanhoe Mines.
Ivanhoe Mines, teaming up with British Pallas Resources, has thrown their hats in the ring to explore the biggest license package in the area, stretching over 16,000 square kilometers. This project is a real game changer in the realm of copper exploration in Kazakhstan, paving the way for fresh opportunities in the global mining landscape.
"Kazakhstan is one of the world’s leading mining regions, and its Chu-Sarysu basin holds vast copper reserves that are yet to be discovered. We know how to find world-class copper deposits and how to develop them. Our experience in Africa allows us to confidently say: Kazakhstan can become the new epicenter of global copper production," said Robert Friedland, founder and executive co-chairman of Ivanhoe Mines.
As part of the partnership, Ivanhoe Mines commits to financing the project with $18.7 million over the first two years and has the option to increase its stake to 80 percent in the event of successful discoveries.
According to the U.S. Geological Survey (USGS), the Chu-Sarysu basin may hold up to 25 million tons of copper, making the region one of the most promising in the world. Large-scale geological exploration using advanced aerogeophysical technologies and digital data analysis will begin here for the first time in the last 40 years.
"This project is not just about copper exploration; it is about unlocking new opportunities for Kazakhstan, its economy, and its people. We are committed to sustainable development, job creation, and the use of environmentally friendly technologies in exploration and mining. This is not just an investment; it is a contribution to the future of global metallurgy," emphasized Marna Klete, president of Ivanhoe Mines.
Kazakhstan is really hitting the nail on the head in the global mining scene: it’s sitting pretty at 1st in uranium production, 2nd in chromite production, and it’s no slouch when it comes to churning out copper, zinc, iron ore, and coal.However, the country is still a bit of a dark horse when it comes to uncovering new copper treasures. The partnership between Ivanhoe Mines and Pallas Resources is set to bridge this gap and unearth new deposits that could turn the global copper production landscape on its head.
Ivanhoe Mines is a Canadian mining company specializing in the development and exploration of large copper, platinum, nickel, and zinc deposits in Africa. Additionally, Ivanhoe Mines is actively exploring new copper deposits on its licensed areas in the Western Foreland region of the DRC, near the Kamoa-Kakula complex.
Now, this list has grown by leaps and bounds with the Chu-Sarysu project in Kazakhstan – the biggest fish in the copper exploration pond in Central Asia.
For 28 years, Ivanhoe Mines has been a pioneer in copper exploration and the development of world-class, unique deposits. The company’s groundbreaking discoveries, such as Kamoa-Kakula in the Democratic Republic of the Congo, the Platreef deposit, and Oyu Tolgoi, have reshaped the understanding of possibilities in the mining industry. This journey now continues in Kazakhstan, a country with vast untapped mineral potential.
To note, Ivanhoe Mines – a Canadian mining company, focused on advancing its three major projects in South Africa: expanding the Kamoa-Kakula copper complex in the DRC; ramping up production at the Kipushi mine for high-quality zinc, copper, germanium, and silver, also in the DRC; and the phased development of the world-class Platreef project for palladium, nickel, platinum, rhodium, copper, and gold mining in South Africa.
