ASTANA, Kazakhstan, April 9. The US Cove Capital company will finance geological exploration work at the Akbulak site in the Kostanay region of Kazakhstan, Trend reports.
This topic was discussed during a meeting between the head of Kazakhstan's Samruk-Kazyna fund Nurlan Zhakupov and the founder and managing partner of Cove Capital Pini Althaus.
On April 8, the national mining company of Kazakhstan Tau-Ken Samruk (TKS), and Cove Capital entered into an agreement providing for geological exploration work at the Akbulak site in the Kostanay region.
The agreement provides for the creation of a joint venture between Tau-Ken Samruk’s subsidiary, Kazgeology JSC, and Cove Capital. Cove Capital will fully finance exploration work until reserves are listed on the balance sheet.
"I support Cove’s decision, in cooperation with TKS, to continue geological exploration work at the Akbulak project. By working together, we can ensure a more sustainable and secure future for future generations," Zhakupov said during the meeting.
Notably, in September 2023, Samruk-Kazyna JSC and Cove Capital signed a cooperation agreement on critical raw materials.