Northern Katpar, Verkhneye Kayraktinskoye tungsten deposits development estimated at $1 blnThe development of the Northern Katpar and Verkhneye Kayraktinskoye tungsten deposits will require $1 billion in investments, Tau-Ken Samruk JSC CEO Nariman Absametov, told Interfax-Kazakhstan.“For the Northern Katpar and Verkhneye Kayraktinskoye deposits, we have completed geological exploration, obtained reports, finalized reserve estimates, selected technologies, and prepared a feasibility study. Approximately $1 billion in investments is planned for the two projects, including metallurgical production, a processing plant, all necessary infrastructure, and a hydrometallurgical facility,” Absametov told the agency on the sidelines of the MINEX Kazakhstan forum on Wednesday.He noted that the company is currently evaluating further development strategies.“These are significant investments. We are reviewing financing options and will decide whether to proceed independently or attract partners,” he added.In 2018, it was reported that Tau-Ken Samruk and China’s Xiamen Tungsten would invest $755 million in developing facilities at the Northern Katpar and Verkhneye Kayraktinskoye deposits in the Karaganda region.The plan included construction of two mining and processing plants and a unified hydrometallurgical complex for deep processing. The facilities were designed to process 2.6 million and 6 million tonnes of ore annually, respectively.Operations at Northern Katpar were slated to begin in 2023, and at Verkhneye Kayraktinskoye in 2025. The projects aim to produce ammonium paratungstate, with future plans for tungsten powder and tungsten carbide. By-products such as molybdenum, bismuth, and copper concentrates are also expected.Kazakhstan has around 12 explored tungsten deposits, with total reserves exceeding 2 million tonnes of tungsten trioxide. Northern Katpar is considered medium in reserves, while Verkhneye Kayraktinskoye is classified as unique, ranking among the world’s top three tungsten deposits.According to Tau-Ken Samruk, the Northern Katpar deposit holds approximately 90,000 tonnes of tungsten and 13,000 tonnes of molybdenum.Tau-Ken Samruk previously announced plans to revive Kazakhstan’s tungsten industry. Once the Verkhneye Kayraktinskoye and Northern Katpar deposits reach full capacity, Kazakhstan is expected to become the world’s second-largest producer of tungsten products, the company stated.Tau-Ken Samruk JSC, established in 2009, consolidates the state’s mining assets and is part of the Samruk-Kazyna Sovereign Wealth Fund. (ICE ALMATY)

Fonte notizia: INTERFAX