National Mining Company Tau-Ken Samruk and Turkish D Mineral to Start a Joint Exploration Project

After determining the areas that are promising from the point of view of geological exploration, the companies plan to create a joint venture.

Bakyt Chirchikbayev, the Head of Tau-Ken Samruk, and Ilkhan Poiraz, the Deputy Chairman of the Board of Directors of D Mineral, with participation of Iran Sharkhan, the Vice Minister of Industry and Infrastructure Development of Kazakhstan, signed the agreement on the main terms of the transaction in Astana today.

Ilkhan Poyraz noted that D Mineral is aimed at versatile long-term cooperation with Kazakhstani companies.

Bakhyt Chirchikbayev, in turn, expressed gratitude to the Ministry of Foreign Affairs of the Republic of Kazakhstan and the Embassy of Kazakhstan in the Republic of Turkey for assistance in finding and establishing cooperation with Turkish partners.

After signing the Term Sheet, Tau-Ken Samruk and Mineral will start searching and exploring promising areas for which it is planned to obtain licenses for exploration and creation of a joint venture in the future. The future of the joint venture will be focused on the search for gold deposits. The Turkish side assumes the financing of geological exploration.

For information: D Mineral is a member company of the Dimin Group holding. The authorized capital of the company is USD20 million. The main activity is the extraction of iron ore and copper.