Kazakhstan-based gold producer Solidcore Resources is set to build three new power plants in the country, including two solar facilities. One of the solar plants will supply part of the electricity needed by the Ertis Hydrometallurgical Plant (EHP).
The company also plans to install a solar power plant at its Syrymbet project and build a gas-fired reciprocating engine power plant in the Karaganda region.
Three new power plants
The two solar power plants will serve the Syrymbet deposit and the EHP, with capacities of 23 megawatts (MW) and 25 MW, respectively. Together, the facilities will partially meet the sites’ electricity needs.
The third facility, a 48 MW gas-fired reciprocating engine power plant, is planned near the settlement of Osakarovka in the Karaganda region. It will be connected to both the national power grid and the gas transmission network.
Read also: Power shift: China takes control of Kazakhstan’s new energy plants.
The projects will further expand Solidcore’s in-house power generation capacity. In late 2025, the company commissioned a 23 MW solar power plant at the Varvarinskoye deposit. A 40 MW gas-fired power plant is also under construction at the same site, with commissioning scheduled for late 2026. In addition, the company is developing a 17 MW solar power project at the Kyzyl deposit.
Once all the planned facilities are operational, Solidcore’s total in-house power generation capacity will reach 176 MW.
Ertis Hydrometallurgical Plant
As previously reported by Kursiv.media, Solidcore Resources plans to complete construction of the EHP in the fourth quarter of 2028. The project is expected to reach its break-even point within seven to eight years, according to Vitaly Nesis, CEO of Solidcore Resources.
Located near Pavlodar, the EHP will be Kazakhstan’s first full-cycle facility for processing gold concentrates. The project represents a total investment of $978 million and is designed to operate for 30 years.
Read also: Solidcore Resources expands its funding base in Kazakhstan.
The facility will be capable of processing up to 300,000 tons of gold-bearing concentrate annually and producing up to 500,000 ounces of gold in doré bars. It is expected to provide permanent employment for up to 500 people.
Solidcore’s operations in Kazakhstan
Solidcore Resources is a major gold producer in Kazakhstan, with its shares listed on the Astana International Exchange (AIX). Its portfolio includes the Bakyrchik deposit, part of the Kyzyl project, in the Abay region, as well as the Varvarinskoye and Komarovskoye deposits in the Kostanay region.
In 2024, the company acquired a 55% stake in the Syrymbet rare-earth and polymetallic deposit in the North Kazakhstan region for $82.5 million.
Formerly known as Polymetal International, the company moved its registration from Jersey to the Astana International Financial Centre (AIFC) in 2023. In 2024, it sold its Russian assets and changed its name to Solidcore Resources.
Notably, Tin One Mining, a Solidcore subsidiary, plans to launch a mining and processing plant at the Syrymbet deposit in the Aiyrtau district of the North Kazakhstan region in 2028. The project is expected to require an investment of $227.8 million.
