Northern Katpar and Upper Kairakty Tungsten Joint Venture Development

awarded

Cove Kaz Capital Group has completed the financial closing to acquire a 70% ownership interest in Severniy Katpar LLP, which holds licenses to the Northern Katpar and Upper Kairakty tungsten deposits in Kazakhstan. The joint venture with Tau-Ken Samruk National Mining Company will advance towards the commencement of an upgraded Definitive Feasibility Study in the second half of 2026. The project involves developing, financing, constructing, and operating mining and downstream processing and refining operations, aiming to produce approximately 12,000 metric tonnes per annum of tungsten, representing about 15% of current global production.