Construction of a mining and metallurgical complex for the extraction and processing of tin ores at the Syrymbet deposit. The main products are tin concentrates and tin sublimates with an annual production capacity of 3,500 tons and 4,900 tons respectively.
75% of the shares of Tin One Mining JSC are owned by the private company Berkut-Mining LLP, the remaining 25% of the shares are owned by the state investment company Samruk Kazyna Invest LLP.
The global tin ore market was worth $7 billion in 2020, with an expected CAGR of 2.24% over the next decade. Due to the growing demand in the electronics industry and the corresponding manufacturing base, the Asia-Pacific region is currently the largest market for tin-based products. North America is the second largest market followed by Europe.
What is the attraction of the project?
The Syrymbet deposit is the only one in Kazakhstan and the world's largest undeveloped deposit with proven and classified tin reserves in accordance with the 2012 JORC Code. The commercial reserves of the Syrymbet deposit amount to 124.7 million tons of ore, with total tin reserves of about 501,000 tons. To date, tin is not produced in Kazakhstan, the country is completely dependent on imports (320 tons were imported in 2019).
A $125 million equity investment is required to build a mining and smelting plant for the extraction and processing of tin ores at the Syrymbet deposit in exchange for a 50% stake in the project.