Korean company to take part in complex ores exploration in Kazakhstan
Baku, Azerbaijan, June 20
By Elena Kosolapova - Trend:
Korean KORES (Korea Recourses Corporation) will take part in the project on complex ores exploration at Dyusembay area in Kazakh's Karaganda region, Kazakh Kazgeology reported.
The company signed corresponding agreement with Kazgeology within the
Kazakhstan-South Korean Business Forum in Astana on June 19.
In March 2014, Kazgeology and KORES signed a cooperation agreement for the project for complex ores exploration in Dyusembay area. The project will require $2 million investments at the first phase of implementation.
KORES was established in 1992 and is owned by Korean Government (99.8 percent shares) and the Development Bank of the Republic of Korea (0.2 percent).
KORES has stakes in 36 projects all over the world. The company invested 35.786 trillion Korean won ($ 35 billion) in 36 projects as of the end of 2013. Its capital stock hit 12.602 trillion Korean won ($ 12 billion).