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Turkish Yilmaden Holding eyeing chromite enrichment launch in East Kazakhstan

Business Materials 25 January 2021 17:36
Turkish Yilmaden Holding eyeing chromite enrichment launch in East Kazakhstan

BAKU, Azerbaijan, Jan. 25

By Nargiz Sadikhova - Trend:

Turkish Yilmaden Holding, which is a subsidiary of the Yildirim Group, is planning to invest into the construction of a chromite enrichment plant in the East Kazakhstan region, Trend reports citing KAZAKH INVEST National Company JSC.

The report said that the project for the construction of the plant is a new opportunity to maintain and expand the existing production of chromite ore, concentrates and ferrochrome in the region.

Investors are planning to provide medium-term and long-term supplies of chrome ore both for their existing business and for new investment opportunities in the region, which will allow the company to become a local producer and exporter of ferrochrome, the report said.

The construction of the a mining and processing complex for processing chromite is expected to begin after holding three-year-long geological exploration and the development of a detailed feasibility study. The construction is expected to last for two years.

The minimum capacity of the ore-processing complex is expected to be 300,000 tons of end product. Over 70 permanent jobs are to be created as result of the project implementation.

Yilmaden Holding is one of the world's leading high-quality high-carbon ferrochrome (HC FeCr) producers.

The Yildirim Group is one of the largest Turkish industrial conglomerates active in industries such as metallurgy and mining, coal and coke, power generation, fertilizers and chemicals.

Yildirim Group works in such areas as port management, logistics, shipping, industrial construction and real estate.

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Follow the author on Twitter: @nargiz_sadikh

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