ASTANA, Kazakhstan, August 28. Chinese "Jiaxin International Resources Investment Limited" ("Jiaxin International") plans to construct a plant for deep processing of tungsten in Kazakhstan’s Almaty region, Trend reports.
The project plans were discussed during a meeting between the leadership of the “China Overseas Development Association” ("CODA") and “Jiaxin International” with the head of “Kazakh Invest”.
During the meeting, it was noted that in the initial phase, the company plans to establish the processing tungsten ore into a 65 percent tungsten concentrate. The second phase of the project will focus on producing ammonium paratungstate and further processing of tungsten carbide powder.
The total investment volume would amount to $450 million, creating over 1,000 jobs. The plant's capacity will reach 3.3 million tons of ore annually.
President of "CODA", He Zhengwei, highlighted the importance of the bilateral strategic partnership with “Kazakh Invest”, underscoring the noticeable increase in interest from Chinese companies in implementing projects in Kazakhstan since the beginning of 2022.
In turn, Meirzhan Yussupov, the head of “Kazakh Invest”, emphasized that Chinese companies are among the main partners for Kazakhstan in implementing major investment projects and actively contribute to the country's industrialization.
“Jiaxin International Resources Investment Limited” is a global leader in tungsten mineral resource extraction, including geological exploration, mining of valuable minerals, and ore enrichment.