According to an official announcement published on the Toronto Stock Exchange (TSX), Ivanhoe Mines, one of the world's leading mining companies and the largest copper discoverer of the 21st century, announces the start of exploration work in the Shu-Sarysu copper basin in Kazakhstan - the third largest sedimentary copper basin in the world.

Ivanhoe Mines has formed a joint venture with Pallas Resources of the UK to explore the largest license package in the region, covering an area of ​​16,000 km². This project is one of the largest copper exploration projects in the history of Kazakhstan and opens up new prospects for the global mining sector.

The company's focus: Ivanhoe Mines in Kazakhstan

For 28 years, Ivanhoe Mines has been a pioneer in the exploration and development of unique, world-class deposits of copper. The company's breakthrough discoveries include Kamoa-Kakula, Platreef and Oyu  Tolgoi in the Democratic Republic of the Congo. They have changed the perception of the opportunities of the mining industry. Now the company's journey continues in Kazakhstan, which has a huge untapped mineral potential. 

"Kazakhstan is one of the world's leading mining regions and has a huge undiscovered copper reserve in its Shu-Sarysu basin. We know how to find world-class copper deposits and how to develop them. Our experience in Africa allows us to confidently say that Kazakhstan can become the new epicenter of global copper production," noted Ivanhoe Mines Executive Co-Chairman Robert Friedter.

Project mission: sustainable development and new discoveries

As part of the partnership, Ivanhoe Mines has committed to financing the project in the amount of $ 18.7 million over the first two years, and also has the right to increase its share to 80% in case of successful discovery.

According to the US Geological Survey (USGS), the Shu-Sarysu basin may contain up to 25 million tons of copper, making the region one of the most promising in the world. Here, for the first time in 40 years, large-scale geological exploration will begin using advanced airborne geophysical technologies and digital data analysis.

"This project is not just about finding copper, it is about opening up new opportunities for Kazakhstan, its economy and people. We are committed to sustainable development, job creation and the use of environmentally friendly technologies in geological exploration and production. This is not just an investment, this is an investment in the future of global metallurgy," said Marna Klete, President of Ivanhoe Mines.

Kazakhstan is a new point on the map of the global mining sector

Kazakhstan already holds a leading position in global mineral production:

1st place in the world in uranium production.

2nd place in chromite production

A major producer of copper, zinc, iron ore and coal

However, the country is still unexplored in terms of new copper discoveries. The joint venture between Ivanhoe Mines and Pallas Resources aims to fill this gap and discover new deposits that could change the global copper production map.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on the development and exploration of large copper, platinum group metals, nickel and zinc deposits in Africa. The company's main projects include:

1.    Kamoa-Kakula Complex: Located in the Democratic Republic of the Congo (DRC), this project is considered one of the fastest growing and highest-quality copper deposits in the world. In 2024, copper production at the complex reached 437,061 tons, and after the completion of the third phase of the expansion, annual production is expected to exceed 600,000 tons.

2.   Platreef Deposit: Located in the Limpopo province of South Africa. This deposit contains platinum, palladium, nickel, copper, rhodium and gold. Platreef is expected to become one of the world's largest platinum mines.

3.    Kipushi Mine: Located in the DRC, near the town of Kipushi. Historically, the mine was known for its copper and zinc production. After a period of inactivity, Ivanhoe Mines is working with state-owned company Gécamines to revive zinc production at the mine. The average zinc grade is expected to be 36.4% in the first five years of development.

4.    Oyu Tolgoi is considered the world's largest undeveloped copper and gold deposit. It is located in the Gobi Desert, 80 km north of Mongolia, on the border with China. Ivanhoe estimated the deposit's reserves at 35.74 million tonnes of copper and 45.2 million ounces of gold as of March 2008.

In addition, Ivanhoe Mines is actively exploring new copper deposits under its Western Foreland licenses near its Kamoa-Kakula complex in the Democratic Republic of the Congo.

This list is complemented by the Shu-Sarysu project in Kazakhstan, which is the largest copper exploration program in Central Asia.

Source : https://www.gov.kz/memleket/entities/mps/press/news/details/937795