Latest news with #Kazakhstan-based
Business Times
30-06-2025
- Business
- Business Times
China's Zijin Mining to acquire Kazakh gold mine in US$1.2 billion deal
CHINA'S biggest gold and copper producer Zijin Mining said on Monday it had agreed to buy one of the largest gold mines of Kazakhstan, the Raygorodok Gold Mine, for US$1.2 billion. Zijin said its unit Zijin Gold International and Jinha Mining, a subsidiary of Zijin Gold, had inked a deal to acquire the rights of RG Gold and RG Processing, the Kazakhstan-based gold mining firms that currently own and operate the Raygorodok gold mine. The gold mine comprises the mine assets held by RGG and the processing plant assets held by RGP, Zijin said in a statement. The timing of the deal aligns with a surge in global gold prices amid ongoing uncertainty around US-China trade tensions. Earlier in April, Zijin laid out its intention to spin off its unit, Zijin Gold International, and list it in Hong Kong as part of a reorganisation of its overseas gold assets.
Yahoo
24-03-2025
- Business
- Yahoo
Brazil Iron offers $1bn for ERG's Bamin project in Brazil
UK-based miner Brazil Iron has made a bid of approximately $1bn (£771.92m) to acquire the Bahia Mineração project (Bamin) in Brazil from Kazakhstan-based Eurasian Resources Group (ERG), reported Bloomberg, citing people familiar with the matter. The Bamin project, operated by ERG subsidiary Bahia Mineração, is an integrated mining and logistics initiative that has attracted interest from various parties. The deal will include Bamin's iron ore mine project, a prospective deep-sea port and a rail link in north-east Brazil. Brazil Iron has entered into a non-disclosure agreement with ERG for the potential deal. The offer from Brazil Iron could enable ERG to recover the majority of its initial investment in the project, said one of the sources. The Bamin project requires an investment of around 30bn reais to expand the mining operations, construct the port and complete a 527km railway. Brazil Iron's interest in the project is strategic as the completion of the port and railway is crucial for advancing its iron ore project roughly 135 miles from Bamin. The company's goal is to produce hot briquetted iron, a key material for manufacturing low-carbon steel using electric arc furnaces. Once fully operational, Bamin is expected to yield up to 26 million tonnes of iron ore annually. The Brazilian Federal Government has also shown interest in the project to promote infrastructure development in the region. It has been keen to facilitate a deal involving a potential consortium between Vale, with a 50% stake, Cedro Mineração with a 30% stake and the Brazilian development bank BNDES holding the remaining interest. Vale, however, is still evaluating the project's viability, with CEO Gustavo Pimenta stating last month that it was premature to confirm any acquisition plans. The Bamin project's railway, which passes through 19 municipalities in Bahia state, is a priority for the government due to its potential to support industries including agriculture and mining. The Brazilian Government is willing to invest 5bn reais to help complete the railroad, with BNDES financing a portion of the investment. In October 2023, ERG signed an agreement with electric vehicle battery materials producer EVelution Energy to supply cobalt under a five-year agreement. "Brazil Iron offers $1bn for ERG's Bamin project in Brazil" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Mid East Info
15-02-2025
- Business
- Mid East Info
City of Astana partners with Presight for AI-powered smart city project - Middle East Business News and Information
· The Astana smart city project will deliver community-wide benefits from reduced traffic and congestion to faster emergency response times. · Kazakhstani companies will be responsible for 60% of the total project scope, which will be managed, implemented and resourced with a local Kazakhstan-based workforce. · The Astana smart city project follows other Presight projects with Kazakhstan's Ministry of Digital Development, Samruk-Kazyna and Astana Hub. · Presight expands its Astana office as it grows presence in Kazakhstan and the wider Central Asia region. Astana, Kazakhstan – February, 2025 – Presight, a leading global big data analytics and applied intelligence company, has signed a USD $190 million, six-year agreement with the Akimat (municipal government) of the City of Astana to deploy an AI-powered smart city project to digitize urban infrastructure, enhance traffic management, and modernize public services. The Astana smart city project will deliver community-wide benefits from reduced traffic and congestion to faster emergency response times. The AI-powered nation-building project is designed to enhance Astana's liveability, sustainability, citizen services, and digital transformation agenda. It will see the introduction of sensors and IoT-enabled infrastructure to create a digital twin of the city, which will improve liveability, safety and community wellbeing. Kazakhstani companies will be responsible for 60 percent of the total project scope of the smart city project, ensuring that jobs, in-country value creation and investment remains in Kazakhstan. The smart city project closely follows other major announcements for Presight in Kazakhstan. In 2024, the Kazakhstan Ministry of Digital Development, in collaboration with Samruk-Kazyna, the Sovereign Wealth Fund of Kazakhstan, appointed Presight to develop a state-of-the-art AI supercomputer and data center cluster to enable the country's digital transformation initiatives. In 2023, Presight also partnered with Astana Hub, the largest international technology park for IT startups in Central Asia, to power venture financing deals for startups. To complement the Astana smart city project and Presight's other nation-building initiatives in Kazakhstan, Presight today also announced the expansion of its Astana office to better service in-country projects as it grows operations in Kazakhstan and the wider Central Asia region. Thomas Pramotedham, Chief Executive Officer of Presight, commented: 'We congratulate the City of Astana for being a global leader in the adoption of world-leading AI for smart city applications. The Astana smart city project aims to develop an ecosystem powered by AI-driven video analytics, enhancing urban management, traffic optimization, and public safety. By integrating advanced monitoring infrastructure and intelligent vision systems, the initiative will provide real-time insights to improve city operations and situational awareness. 'A key component includes AI-powered traffic management solutions designed to enhance road safety and streamline mobility. Additionally, existing visual data sources will be unified into a real-time digital twin of the city, enabling predictive analytics and faster response times to incidents. This initiative underscores a commitment to leverage AI and data-driven solutions for more efficient, secure, and sustainable urban development.' Through the responsible and ethical implementation of AI-driven solutions, citizens of Astana will experience improved public services, digitized infrastructure, enhanced healthcare access, and safer, more efficient urban environments . Presight is committed to developing AI solutions that enhance communities while upholding privacy and security. This project aligns with the City of Astana's digital transformation goals and ensures AI is used ethically and transparently to deliver tangible benefits to citizens . About Presight: Presight is an ADX-listed public company with Abu Dhabi based G42 as its majority shareholder and is the region's leading big data analytics company powered by GenAI. It combines big data, analytics, and AI expertise to serve every sector, of every scale, to create business and positive societal impact. Presight excels at all-source data interpretation to support insight-driven decision-making that shapes policy and creates safer, healthier, happier, and more sustainable societies. Today, through its range of GenAI-driven products and solutions, Presight is bringing Applied AI to the private and public sector, enabling them to realize their AI strategy and ambitions faster.
Zawya
15-02-2025
- Business
- Zawya
City of Astana partners with Presight for AI-powered smart city project
Kazakhstani companies will be responsible for 60% of the total project scope, which will be managed, implemented and resourced with a local Kazakhstan-based workforce. The Astana smart city project follows other Presight projects with Kazakhstan's Ministry of Digital Development, Samruk-Kazyna and Astana Hub. Presight expands its Astana office as it grows presence in Kazakhstan and the wider Central Asia region. Astana, Kazakhstan – Presight, a leading global big data analytics and applied intelligence company, has signed a USD $190 million, six-year agreement with the Akimat (municipal government) of the City of Astana to deploy an AI-powered smart city project to digitize urban infrastructure, enhance traffic management, and modernize public services. The Astana smart city project will deliver community-wide benefits from reduced traffic and congestion to faster emergency response times. The AI-powered nation-building project is designed to enhance Astana's liveability, sustainability, citizen services, and digital transformation agenda. It will see the introduction of sensors and IoT-enabled infrastructure to create a digital twin of the city, which will improve liveability, safety and community wellbeing. Kazakhstani companies will be responsible for 60 percent of the total project scope of the smart city project, ensuring that jobs, in-country value creation and investment remains in Kazakhstan. The smart city project closely follows other major announcements for Presight in Kazakhstan. In 2024, the Kazakhstan Ministry of Digital Development, in collaboration with Samruk-Kazyna, the Sovereign Wealth Fund of Kazakhstan, appointed Presight to develop a state-of-the-art AI supercomputer and data center cluster to enable the country's digital transformation initiatives. In 2023, Presight also partnered with Astana Hub, the largest international technology park for IT startups in Central Asia, to power venture financing deals for startups. To complement the Astana smart city project and Presight's other nation-building initiatives in Kazakhstan, Presight today also announced the expansion of its Astana office to better service in-country projects as it grows operations in Kazakhstan and the wider Central Asia region. Thomas Pramotedham, Chief Executive Officer of Presight, commented: 'We congratulate the City of Astana for being a global leader in the adoption of world-leading AI for smart city applications. The Astana smart city project aims to develop an ecosystem powered by AI-driven video analytics, enhancing urban management, traffic optimization, and public safety. By integrating advanced monitoring infrastructure and intelligent vision systems, the initiative will provide real-time insights to improve city operations and situational awareness. 'A key component includes AI-powered traffic management solutions designed to enhance road safety and streamline mobility. Additionally, existing visual data sources will be unified into a real-time digital twin of the city, enabling predictive analytics and faster response times to incidents. This initiative underscores a commitment to leverage AI and data-driven solutions for more efficient, secure, and sustainable urban development.' Through the responsible and ethical implementation of AI-driven solutions, citizens of Astana will experience improved public services, digitized infrastructure, enhanced healthcare access, and safer, more efficient urban environments. Presight is committed to developing AI solutions that enhance communities while upholding privacy and security. This project aligns with the City of Astana's digital transformation goals and ensures AI is used ethically and transparently to deliver tangible benefits to citizens. -Ends- About Presight Presight is an ADX-listed public company with Abu Dhabi based G42 as its majority shareholder and is the region's leading big data analytics company powered by GenAI. It combines big data, analytics, and AI expertise to serve every sector, of every scale, to create business and positive societal impact. Presight excels at all-source data interpretation to support insight-driven decision-making that shapes policy and creates safer, healthier, happier, and more sustainable societies. Today, through its range of GenAI-driven products and solutions, Presight is bringing Applied AI to the private and public sector, enabling them to realize their AI strategy and ambitions faster. For further information, please contact Presight@ or media@
Yahoo
10-02-2025
- Business
- Yahoo
You're invited to join Dala Resources at PDAC 2025 Convention in Toronto
Almaty, Kazakhstan--(Newsfile Corp. - February 10, 2025) - Visit Dala Resources at Booth #2727 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025. About Dala Resources Dala Resources is a Kazakhstan-based private mineral exploration company developing hard-rock lithium projects in Eastern Kazakhstan. Dala Resources holds exploration licenses for Kene and Bayash lithium tenements with extensive license term to allow taking Kene and Bayash projects to development. Dala Resources has an experienced team who has been developing the Project since 2019 and has made significant progress in confirmation of the lithium resource. About PDAC The World's Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 26,000 attendees in person in 2024, participants could also attend programming, courses and networking events. The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world's mineral industry. For more information and/or to register for the conference please visit: We look forward to seeing you there. For further information: Dala ResourcesAlmaz Ashirov+7 (727) 247 2252ashirov@ Sign in to access your portfolio
