Nickel Asia buys 20% of Kazakhstan venture
NICKEL ASIA CORP. is acquiring a 20% stake in a Kazakhstan-based copper venture as part of its strategy to diversify beyond nickel and expand its regional footprint.
In a disclosure on Wednesday, the listed miner said it signed a membership interest sale and purchase agreement with Silk Road Resources Ltd. and East Copper Production LLP to acquire a minority stake in East Copper.
East Copper is the sole owner of GRK MLD LLP, which holds subsoil use rights for the Karchiga copper mine in Kazakhstan. The deposit is located within the Central Asian Orogenic Belt, a highly mineralized region known for significant copper resources.
The transaction remains subject to due diligence on East Copper and GRK, as well as regulatory approvals and other closing conditions.
Nickel Asia said GRK has an annual production capacity of 8,500 tons of copper sulfide concentrate with an average grade of 1.8%, and 2,000 tons of copper cathode with an average grade of 1%.
The investment marks a step in the company’s broader push to diversify its natural resource portfolio and reduce reliance on nickel.
It also aligns with its goal of expanding market capitalization and building a stronger presence across Asia.
“This investment supports the company’s strategy to expand market capitalization and earnings by evolving beyond nickel into a diversified natural resource development platform,” Nickel Asia said. — V.A.E. Villamiel
