Kaz Critical Minerals LLP, a wholly-owned subsidiary of Kaz Resources LLC and a portfolio company of Cove Capital LLC, has achieved a major milestone in its exploration activities in East Kazakhstan. The company recently completed drilling the first 1,000 meters on its critical minerals licenses, uncovering several previously unreported positive anomalies. This discovery has prompted the company to extend its drilling program to better define these anomalies.
In addition to these findings, Kaz Critical Minerals has been granted two new exploration licenses, further expanding its operational footprint. This expansion will enhance the company’s ability to explore key areas with high potential for valuable mineral deposits, with an immediate focus on continued drilling operations.
Kaz Resources is also collaborating with Hatch, a globally recognized mining and engineering consulting firm. Hatch will provide professional services in key areas, leveraging its extensive experience in mining and infrastructure projects, including those in Kazakhstan. This partnership aims to enhance the efficiency and effectiveness of Kaz Critical Minerals’ exploration programs.
Pini Althaus, CEO of Kaz Resources, expressed enthusiasm about the progress, stating, “The encouraging drilling results, coupled with the new licenses and our partnership with Hatch, position us strategically to unlock Kazakhstan’s rich mineral resources. We are committed to driving progress and creating value for our stakeholders and Kazakhstan through meticulous exploration and innovative partnerships.”
Yuri Savguira, Senior Engagement Manager at Hatch, added, “We are excited to collaborate with Kaz Resources on this promising venture. Our combined expertise will support the development and execution of these projects, bringing our experience and excellence to the forefront.”
Kaz Resources remains focused on exploring and developing critical minerals essential for the energy transition, advanced technology, and defense applications. The company’s efforts align with Kazakhstan’s broader economic and sustainable resource management goals.
In 2023, Kaz Resources, through Kaz Critical Minerals LLP, became the first U.S. company to receive critical minerals and rare earths land concessions in Kazakhstan. These concessions include valuable minerals such as rare earth elements, lithium, tantalum, beryllium, niobium, cesium, and tin. A significant partnership with Kazakhstan’s national mining company, Tau-Ken Samruk, and Cove Capital was formed to explore and develop rare earth and critical metals, particularly at the Akbulak rare earth project in the Kostanay region.
