One of the leading global mining companies, Ivanhoe Mines, has announced the commencement of geological exploration in the Chu-Sarysu copper basin in Kazakhstan. This information was published on the website of the Ministry of Industry and Construction.
The Chu-Sarysu copper basin is the third-largest sedimentary copper basin in the world.
Ivanhoe Mines, in partnership with the British company Pallas Resources, has established a joint venture to explore the largest licensed area in the region, covering 16,000 km².
“This project is one of the most significant in the history of copper exploration in Kazakhstan and opens up new opportunities for the global mining sector,” the publication states.
As part of the partnership, Ivanhoe Mines commits to funding the project with $18.7 million over the first two years and has the right to increase its stake to 80% in the event of successful discoveries.
“Kazakhstan is one of the world’s leading mining regions, and its Chu-Sarysu basin holds vast copper reserves yet to be uncovered. We know how to find world-class copper deposits and how to develop them. Our experience gained in Africa allows us to confidently state that Kazakhstan could become a new epicenter of global copper production,” said Robert Friedland, founder and executive co-chairman of Ivanhoe Mines.
According to the U.S. Geological Survey (USGS), the Chu-Sarysu basin may contain up to 25 million tons of copper, making this region one of the most promising in the world. For the first time in 40 years, large-scale geological exploration will begin here using advanced aerogeophysical technologies and digital data analysis.
“This project is not just about copper exploration; it represents new opportunities for Kazakhstan, its economy, and its people. We are committed to sustainable development, job creation, and the use of environmentally friendly technologies in exploration and extraction. This is not merely an investment; it is a contribution to the future of global metallurgy,” emphasized Marna Klete, president of Ivanhoe Mines.
The report indicates that Kazakhstan already holds leading positions in global mineral extraction: it ranks 1st in the world for uranium production, 2nd for chrome, and is a major producer of copper, zinc, iron ore, and coal. However, the country remains underexplored in terms of new copper discoveries. The joint venture between Ivanhoe Mines and Pallas Resources aims to address this gap and uncover new deposits capable of reshaping the global copper mining landscape.
Ivanhoe Mines is a Canadian mining company specializing in the development and exploration of large copper, platinum group metals, nickel, and zinc deposits in Africa. Its key projects include the Kamoa-Kakula complex in the Democratic Republic of Congo (DRC); the Platreef deposit in Limpopo province, South Africa; the Kipushi mine in the DRC; and Oyu Tolgoi, considered the largest undeveloped copper and gold deposit in the world, located in the Gobi Desert. Ivanhoe Mines is actively exploring new copper deposits on its licensed sites in the Western Highlands of the DRC.
Deputy Baktykozha Izmukhambetov noted that Kazakhstan has many underexplored deposits, and investments are mainly directed toward the exploration of previously identified promising structures. He suggested conducting further exploration at the Sarybulak deposit.
It was also reported that the Government of Kazakhstan has formed a commission to study the situation with existing production sharing agreements (PSAs) with mining companies.
Earlier, President Kassym-Jomart Tokayev instructed the government to intensify negotiations regarding the extension of PSA contracts under updated terms favorable to the country. Prime Minister Olzhas Bektenov stated that Kazakhstan plans to extract shale oil. According to him, last year, KazMunayGas began drilling on four projects in the Kyzylorda, Atyrau, and Aktobe regions. The total geological resources of these projects amount to over 800 million tons in oil equivalent.