Construction in Kazakhstan of the first innovative metallurgical complex for the processing of cobalt-nickel ores, with the extraction of nickel and cobalt at the Gornostaevskoye deposit. Proved reserves are up to 1,000 thousand tons of nickel and up to 66 thousand tons of cobalt.
Qaznickel is a mining company located in the East Kazakhstan region. Since 2004, he has been engaged in geological exploration of the Gornostaevskoye deposit. In 2019, it began the pilot operation stage using an advanced in-situ leaching method.
In 2020, the target market for nickel and cobalt is valued at $20 billion, with a 5% CAGR. It is expected that world production of nickel will grow by an average of 3.5% per year and by 2027 will reach 2.9 million tons. China is the largest consumer of nickel, hosting the world's largest consumers: producers of steel, catalysts, batteries, etc.
What is the attraction of the project?
Kazakhstan is rich in nickel and cobalt (12th and 7th places respectively). The country is particularly rich in lateritic nickel ores, the only source of low-grade and ferrous nickel production. The absence of large domestic production also makes it possible to replace imports and export products to the world's largest consumers - China, Korea, Russia and Japan.
A US$100 million investment is being sought to launch a cobalt-nickel ore processing facility. The owner is ready to sell a 25% stake in the project.