EU includes Sarytogan graphite deposit in strategic initiatives listThe European Union has granted strategic project status to the Sarytogan graphite deposit located in Kazakhstan's Karaganda region, the Kazakh Ministry of Industry and Construction reported.It is specified that granting this status means the European Commission has initiated the process of attracting investment for the project's development. According to estimates, the total capital expenditures are defined in the range of $62-344 million."The Sarytogan project is seen as a key element in strengthening the industrial partnership between the European Union and the Republic of Kazakhstan, as well as part of the pan-European strategy to ensure sustainable supplies of critical materials for the EU's green and digital transition," the Ministry's press release says.Furthermore, the European Commission expressed readiness to support the Kazakh enterprise in concluding offtake contracts with European partners.The Sarytogan deposit is located in an industrial mineral extraction area and is connected by highway to the city of Karaganda (190 km) and Kazakhstan's capital Astana (390 km). Exploration in the Sarytogan area has identified two major zones of graphitic mineralization - Central and North.Exploration of the large Sarytogan graphite deposit is being undertaken by Sarytogan Graphite Limited. According to information on Sarytogan Graphite Limited's website, the company, through its 100% subsidiary Ushtogan LLP, is the sole owner of the Sarytogan graphite deposit development project, which is undergoing a preliminary feasibility study. The exploration concession covers 70 sq km. The exploration license was issued to Ushtogan LLP in August 2018, confirmed by contract in October 2018, and extended in June 2022.In August 2024, it was reported that the European Bank for Reconstruction and Development (EBRD) acquired a 17.36% stake in Sarytogan Graphite, investing A$5 million into the project. (ICE ALMATY)

Fonte notizia: INTERFAX