Baku, Azerbaijan, Jan. 21
By Elena Kosolapova - Trend: Centurion Resource Group (CRG) acquired 75 percent interest in a copper asset located in the Kazakh Karaganda region, the group reported last week.
The copper project has a projected deposit of 153 million tons of mineral resource at an average grade of 0.34 percent copper based on a cut-off grade of 0.2 percent copper. Gold grades are also found on the property.
The decision to invest was made after CRG conducted detailed technical analyses of historic Soviet era geological data and performed in-house geological sampling.
"We believe that this is a perfect example of the many great opportunities to acquire underpriced assets in Kazakhstan. This project fits perfectly within the Fund's copper roll up strategy in Central Asia," CRG Managing Director Rustem Ospanov said.
CRG has been actively implementing its strategy of acquiring exploration assets with good mineral potential in Central Asia since early 2012. CRG has established a diverse pipeline of such assets and is currently seeking to acquire additional subsurface use contracts from the state.
CRG is an international private equity fund management group with expertise in natural resources. CRG has offices in Denver, Colorado, and Almaty, Kazakhstan.
