Exploration project with Fortescue Metals Group Ltd in Aktobe, Kyzylorda and Karaganda regions

Kazakhstan Fortescue LLP (hereinafter – Fortescue) is a subsidiary of Fortescue Metals Group Ltd. public company (hereinafter – Fortescue, ASX: FMG). Fortescue is a global leader in the iron ore industry, focused on providing a high culture of production and innovation. The company has received industry recognition for developing world-class infrastructure and selling mining assets in the Pilbara, Western Australia.

Innovations in exploration, ore processing and plant design are a key component of Fortescue’s strategy to create an optimal and efficient supply chain of products from the mine to the end user. The company is considering exploration and development opportunities in Australia and South America, including Ecuador, Colombia and Argentina.

Fortescue appreciates its relationships with all participants in the process, using a constructive approach in management and creating new opportunities for the local population, contributing to the development of regional communities and protecting the environment.

Cooperation between Tau-Ken Samruk and Fortescue was launched in 2020 for the implementation of geological exploration within the framework of a consortium on 48 licenses in four regions.

In 2021, large-scale prospecting work continued on a total area of 13.1 thousand km2 in Karaganda, Aktobe and Kyzylorda regions. Including conducting large-scale aerial geophysical surveys and drilling.

Cooperation with Fortescue makes an important contribution to the development of rural districts of Karaganda, Aktobe and Kyzylorda regions, lease payments for the project are paid directly to the district Akimats. Kazakhstani suppliers of works and services are involved in the project. Fortescue contributes to the development of the geologist profession in Kazakhstan, so Fortescue implemented an internship program for students of K. Satpayev University.

At the moment, Fortescue continues to carry out exploration work.