Investment Projects - Sale of iron ore deposits — Sholaksandyk

Licenses and General Information:

• License No. 1556-EL dated 14 January 2022 and License No. 1776-EL dated 4 July 2022 
• License type: Exploration of solid minerals 
• Validity period: 6 years 
• Subsoil user: Temir Qazyna 2018 LLP (BIN 210140022806) 

Subsoil plot: 

• 3 blocks: M-42-13-(10v-5g-14, 15), M-42-14-(10a-5v-11), total area 6.7 sq.km 
• 10 blocks: M-42-14-(10a-5v-1…10), total area 21.4 sq. km 
• Total licensed area: 28.1 sq. km

Location and Infrastructure:

• Zharkain District, Akmola Region, Kazakhstan 
• Terrain: predominantly flat with isolated hills and ridges 
• Elevations: 203–416 m above sea level 
• Main river: Ishim and its tributaries

Geology and Mineralization

• Deposit identified in 1962 as an aeromagnetic anomaly with a length of 8 km 
• Ore types: hematite-magnetite (55%) and magnetite (45%) with martite
• Impurities: pyrite, pyrrhotite, chalcopyrite 
• Average Fe content in ores: 20.28–32.35% (average – 28.18%)
• SO₃ – 0.54%, P₂O₅ – 0.32% 
• After beneficiation: Fe content in concentrate 76–82% 
• Inferred ore resources: 275 million tonnes
• Gold: 0.3 g/t, inferred gold resources: 8 tonnes

Geological Study

• Exploration activities have been carried out since the late 1950s 
• Geological mapping at scales of 1:200,000; 1:500,000; and 1:1,000,000 
• Mineralization patterns identified, detailed lithological subdivision performed, and ore occurrences described

Completed and Planned Works

1. Obtaining licenses (2022) 
2. Collection and interpretation of archival geological data 
3. Development of an exploration plan and cost estimate 
4. Obtaining Environmental Impact Assessment (EIA) approval 
5. Ground-based magnetic survey conducted – ore anomalies identified
6. Expansion of the licensed area through additional blocks 
7. Land management works 
8. Planned drilling – 12 boreholes
9. Resource estimation in compliance with JORC 2012 
10. Planned commissioning of an in-house mining and processing plant (MPP)

Geophysics and 3D Modelling Results

• Estimated rock volume according to 3D model (0.3 SI units, to a depth of 250 m): 35.5 million m³
• Predicted magnetite ore resources: 75 million tonnes with Fe content of 35% 
• Core drilling recommended

Conclusion

• Prospective but underexplored deposit 
• Modern geophysical data obtained, enabling optimization of the exploration process 
• The company is seeking a potential buyer

Global consumption
of iron ore (in million tons),
2021–2035