Tin One Mining, a subsidiary of Solidcore Resources plc, Kazakhstan’s major gold producer, plans to begin ore extraction at the Syrymbet tin deposit in the North Kazakhstan region in 2027, according to the Committee for Environmental Regulation and Control (CERC).
Production to begin in 2027
Under the revised plan, the company is expected to extract 1,100 tons of ore in 2027. Previously, production was scheduled to begin in 2028.
«Syrymbet is a complex polymetallic deposit. In addition to tin, a number of associated valuable components are present. Tin is the primary valuable component of the ores, while copper is an associated recoverable component… The planned annual ore extraction capacity for the sulfide pit is as follows: 2027 – 1,100 tons/year,» the CERC document reviewed by Kursiv.media states.
Production is expected to increase significantly in subsequent years, reaching 776,000 tons of ore in 2028, 1.51 million tons in 2029 and 2.5 million tons in 2030. From 2031 to 2033, annual extraction is expected to remain at approximately 2.5 million tons.
Production is then projected to decline to 1.63 million tons in 2034, 1.33 million tons in 2035 and 461,000 tons in 2036. Reclamation of the open-pit mine is scheduled to begin in 2037.
In August, Solidcore reported that Tin One Mining and the Department of Entrepreneurship and Industrial-Innovative Development of the North Kazakhstan Region Akimat (governor’s office) had signed a memorandum on the construction of a mining and processing plant at the Syrymbet tin deposit.
Investment and jobs
Under the agreement, Tin One Mining plans to invest at least 150 billion tenge (about $332.7 million), based on preliminary estimates, in developing the deposit and constructing the mining and processing facility and related infrastructure.
The project is expected to create approximately 800 jobs. Priority in hiring will be given to local residents with the necessary education, qualifications and professional skills.
The investment is subject to approval of the project by Solidcore Resources’ Board of Directors.
Syrymbet deposit
Syrymbet is the largest undeveloped tin deposit in Central Asia and accounts for more than 70% of Kazakhstan’s total tin reserves, according to Solidcore. The deposit was discovered in 1985.
According to Solidcore, the JORC-compliant mineral resource estimate comprises 492,400 tons of tin at a grade of 0.40% and 91,400 tons of copper at a grade of 0.07%, equivalent to a combined 5.9 million ounces of gold equivalent.
Solidcore’s stake in the project
Solidcore Resources is a leading gold producer based in Kazakhstan and is listed on the Astana International Exchange (AIX). The company operates the Bakyrchik deposit in the Kyzyl ore zone of the Abay region, as well as the Varvara and Komar deposits in the Kostanay region.
In late 2024, Solidcore Resources acquired a 55% stake in Tin One Holding, the company that holds the subsoil license for Syrymbet, from Lancaster Group for $82.5 million.
At the time of the transaction, one of the ultimate shareholders of Lancaster Group Kazakhstan was Yerbolat Dossayev, who was then the akim (mayor) of Almaty. Dossaev’s stake in Lancaster Group was held in trust by his wife, Gulnar Dossaeva.
As of the time of publication, Tin One Mining is owned by private company Tin One Holding. Tin One Holding is jointly owned by Berkut Mining and private company Solidcore Eurasia Ltd.
Berkut Mining is owned by Lancaster Mining PTE Ltd., which is part of Lancaster Group. Solidcore Eurasia Ltd., in turn, is owned by publicly listed Solidcore Resources plc.
