Kazakhstan Plans to Implement a Project for the Deep Processing of Tungsten
At the site of “NC “KAZAKH INVEST” JSC, a meeting was held with the leadership of the China Overseas Development Association (CODA) and Jiaxin International Resources Investment Limited (Jiaxin International) to discuss issues of increasing investment activity in the mining sector of the Republic of Kazakhstan. In particular, the plans of Jiaxin International for the implementation of a project for the deep processing of tungsten in the Almaty region were discussed.
CODA President He Zhenwei noted the importance of a bilateral strategic partnership with KAZAKH INVEST, emphasizing that since the beginning of 2022, the interest of companies from China in implementing projects in Kazakhstan has noticeably increased. The Association assists Chinese companies in launching projects outside of China. One such company is Jiaxin International.
Liu LiQiang, Chairman of the Board of Directors of Jiaxin International, said that at the first stage, the company plans to start processing tungsten ore into 65% tungsten concentrate. The second stage of the project will focus on the production of ammonium paratungstate and deep processing of tungsten carbide powder. According to him, the total investment will be $450 million, with the creation of more than 1,000 jobs. The plant's capacity will be 3.3 million tons of ore per year.
In turn, the head of KAZAKH INVEST Meirzhan Yussupov emphasized that Chinese companies are one of the main partners for Kazakhstan in the implementation of large investment projects and take an active part in the industrialization of the republic. According to him, investors are showing interest in the mining industry, namely, projects for the development of deposits with further processing of products. The National Company is ready to provide all possible support to investors in the implementation of such projects in Kazakhstan.
Reference:
China Overseas Development Association (CODA) is an all-China public organization. The Association provides support and assistance to Chinese companies in entering foreign markets to develop their activities and participate in international cooperation in the field of joint development of the One Belt, One Road initiative.
Jiaxin International Resources Investment Ltd. is a world leader in the extraction of tungsten mineral resources, specializing in the entire tungsten industry chain, including exploration, mining, ore processing and smelting of tungsten mineral products.
