Ermaganbet Bulekpayev met with the management of Tau-Ken Samruk and American investors

In the Karaganda region, it is planned to implement 12 investment projects of JSC National Mining Company Tau-Ken Samruk for a total amount of about 750 billion tenge. Up to 3,800 jobs are expected to be created by 2029.

The head of the region, Ermaganbet Bulekpayev, met with the leadership of the national mining company and representatives of the American business and discussed issues of cooperation.

One of the key projects is the development of the North Katpar and Upper Kairakty fields in the Shet district. It is being implemented jointly with the American company Cove Capital. On February 13, a purchase and sale agreement and founding documents on joint development were signed. The agreement was signed under the patronage of President of the Republic of Kazakhstan Kassym-Jomart Tokayev and President of the United States Donald Trump and is part of the strategic agreement on critical minerals between the two countries.

According to Nariman Absametov, Chairman of the Management Board of NMC Tau-Ken Samruk, Severny Katpar and Verkhne Kairakty are among the largest tungsten deposits in the world. The company has previously conducted geological exploration and developed a feasibility study for the project.

Under the terms of the agreement, the investor undertakes to invest 1.1 billion US dollars in the construction of two processing plants and one metallurgical plant. The total number of employees at the time of reaching the design capacity will be about a thousand people with the priority of employing Kazakhstani personnel.

A separate strategic condition is a ban on the export of raw materials and intermediates. The production will be focused exclusively on deep processing. For the entire period of the project's implementation, tax revenues to the budget are expected to amount to about 1.5 billion US dollars.

Dominic Heaton, CEO of Cove Kaz Capital Group LLC, noted that the company is aware of the long-term nature of the project and intends to actively attract local staff.

– We feel a great responsibility to the local authorities and residents for the implementation of the project. We understand that the Karaganda region is an industrial region with many industries and, consequently, competencies. In the long term, we plan to train local specialists and gradually replace foreign employees," he stressed.

Ermaganbet Bulekpayev expressed his willingness to provide comprehensive assistance in the implementation of the project.

– This is one of the largest projects. Everything that depends on the local government will be done. We are ready to fully assist," said the head of the region.

The implementation of the project will make a significant contribution to the development of the industrial potential of the region, creating jobs and strengthening investment cooperation between Kazakhstan and the United States in the field of critical minerals.