Fincraft Resources of the main Petropavlovsk shareholder Kenes Rakishev will invest $200-300 million in the development of mines at the Gornostayevskoye, one of the largest cobalt and nickel deposits in Kazakhstan.
The cluster will start operating in 3 years, with metal to be exported to South Korea, China and Russia.
The deposit reserves are estimated at 54.7 million tons of ore, containing 406 thousand tons of nickel and 29.8 thousand tons of cobalt. (Ukrainian metal)