{"url":"https://newsforagent.com/news/2026-10-29/solidcore-syrymbet-tin-copper-investment","markdown_url":"https://newsforagent.com/news/2026-10-29/solidcore-syrymbet-tin-copper-investment.md","title":"Solidcore Approves $468 Million Syrymbet Tin-Copper Mine","headline":"Solidcore Resources Approves $468 Million Investment in Kazakhstan's Syrymbet Tin-Copper Project","description":"Solidcore Resources approved a $468 million investment in Kazakhstan's Syrymbet tin-copper project, with first production expected in the second half of 2029.","section":"Expansion","published_at":"2026-10-29T09:35:42+00:00","modified_at":"2026-10-29T09:35:42+00:00","author":"News Desk","key_takeaways":["Solidcore Resources approved a $468 million investment in the Syrymbet tin-copper project in Kazakhstan.","The project holds 24.2 million tonnes of ore reserves and is planned as a 10-year open-pit mine from 2029 to 2038.","Solidcore holds a 55% stake in Syrymbet, with Lancaster Group holding the remaining interest."],"companies":[{"name":"Solidcore Resources","is_primary":true,"profile_url":"https://akta.pro/company-profiles/0004gbu/solidcore-resources","website":"https://www.solidcore-resources.com/en"},{"name":"Lancaster Group","is_primary":false,"profile_url":"https://akta.pro/company-profiles/006bzmq/lancaster-group","website":"https://www.lancasterholding.com"}],"source":{"publisher":"Trend","title":"Solidcore approves $468M investment in Kazakhstan's Syrymbet project","url":"https://www.trend.az/casia/kazakhstan/4240665.html"},"other_sources":[],"tags":["Expansion","Solidcore Resources","Lancaster Group"],"body_markdown":"Solidcore Resources plc has approved a $468 million investment in its Syrymbet tin-copper project in Kazakhstan, with first production expected in the second half of 2029. The company announced the final investment decision in a press release, [Trend](https://www.trend.az/casia/kazakhstan/4240665.html) reported on October 29.\n\n## Solidcore's Syrymbet Mine Plan and Timeline\n\n[Solidcore Resources](https://akta.pro/company-profiles/0004gbu/solidcore-resources) holds a 55% stake in Syrymbet, with the remaining interest held by partner [Lancaster Group](https://akta.pro/company-profiles/006bzmq/lancaster-group). The project is planned as a conventional open-pit operation with a 10-year mine life from 2029 to 2038, based on the Central deposit. The current mine plan uses ore reserves of 24.2 million tonnes of primary ore, compliant with the JORC Code, with an average tin grade of 0.42% and a copper grade of 0.15%. The reserves contain approximately 101,000 tonnes of tin and 36,000 tonnes of copper.\n\nA processing plant with an annual capacity of 2.5 million tonnes will combine gravity separation for tin and flotation for copper. The project is expected to produce tin concentrate with a grade of approximately 50% and copper concentrate with a grade of around 20%, for direct sale to third-party offtakers. Expected recovery rates are 53-55% for tin and 79% for copper. Life-of-mine production is estimated at 53,000 tonnes of tin and 29,000 tonnes of copper in concentrate, equivalent to approximately 6,000 tonnes of tin and 4,000 tonnes of copper annually.\n\nThe project is expected to generate an internal rate of return of 19%, based on a mid-cycle tin price of $42,000 per tonne, a copper price of $12,000 per tonne and an exchange rate of 450 tenge per US dollar. The average life-of-mine total cash cost is estimated at $20,600 per tonne of tin equivalent, while all-in sustaining costs are projected at $22,200 per tonne of tin equivalent. Initial capital expenditure is estimated at $468 million, approximately 60% of which is expected to be spent locally in Kazakhstan. The project will be financed through a combination of bank loans and cash contributions from Solidcore and Lancaster Group in proportion to their respective shareholdings.\n\n\"The project assessment has delivered strong results while preserving substantial future optionality,\" Vitaly Nesis, CEO of Solidcore Resources plc, said. \"Together with our partner, Lancaster Group, we look forward to bringing Syrymbet into production in H2 2029 and becoming a major player in the global tin market.\"\n\n## Solidcore's Funding and Company Background\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Solidcore Resources has three funding rounds on record, including a $100 million post-IPO debt round in September 2026 led by KfW IPEX Bank, a $600 million post-IPO debt round in July 2026 led by the European Bank for Reconstruction and Development, and a $60 million post-IPO debt round in February 2025 led by Bank CenterCredit. The company's total funding stands at $760 million, with a valuation estimate of $1 billion to $5 billion. Solidcore Resources is headquartered in Astana, Kazakhstan, and was founded in 1998.\n\n## Earlier Solidcore Developments\n\nIn October 2026, Solidcore Resources announced plans to build a nine-story headquarters in Astana, with the Oman Investment Authority financing 85% of the project, Trend reported. In September 2026, Japan Gold announced a strategic alliance with Solidcore Resources, with Solidcore committing $35 million to explore five target areas, FinancialContent Business Page reported. Also in September 2026, Solidcore Resources secured a seven-year $100 million credit facility from KfW IPEX-Bank to finance the Ertis POX pressure oxidation plant in Kazakhstan, Trend reported.\n\n## Syrymbet Construction and Exploration Schedule\n\nThe project timeline envisages the start of construction of the main facilities and the state expert review of documentation for infrastructure facilities and the processing plant in the third quarter of 2026. Open-pit mining is scheduled to begin in the third quarter of 2027. Construction and installation work on infrastructure facilities is expected to be completed in the first quarter of 2029, while the processing plant and tailings storage facility are scheduled for completion in the second quarter of 2029. Commissioning and first production are expected in the second half of 2029, followed by a full operational ramp-up in 2030. Exploration at the North-Eastern, South-Western and Sarybulak ore zones is expected to begin in 2027, with an initial 10-kilometer drilling program planned for 2027-2028 and mineral resource estimates expected in 2029.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}