Tin One Mining (a subsidiary of Solidcore Resources plc, Kazakhstan's largest gold miner) and the Department of Entrepreneurship and Industrial-Innovative Development of the North Kazakhstan Region akimat have signed a memorandum on the implementation of a project to build a mining and processing plant at the Syrymbet tin deposit. This was reported by Qazaqyia.kz citing Kursiv Media.
"Tin One Mining (a subsidiary of Solidcore Resources) and the Department of Entrepreneurship and Industrial-Innovative Development of the North Kazakhstan Region akimat signed a memorandum on the implementation of an investment project to build a mining and processing plant at the Syrymbet deposit. The signing ceremony took place during the Qyzyljar Investment Forum 2026," the company said in a statement.
According to the company, the document formalized previously reached agreements on the development of the largest tin deposit in Central Asia. The project will create new jobs, increase the region's industrial potential, and give additional impetus to the development of local engineering and transport infrastructure.
"The signing of the memorandum is an important step towards the implementation of the project to build a mining and processing plant at the Syrymbet deposit. We view it as a long-term investment in the development of the North Kazakhstan region and a contribution to strengthening the country's industrial potential. Our task is to implement the project using modern technologies, adhering to high standards of industrial and environmental safety, create new jobs and ensure maximum involvement of local specialists," said Abai Khudaibergenov, President of Tin One Mining.
According to the signed document, the Department of Entrepreneurship and Industrial-Innovative Development of the North Kazakhstan Region akimat will facilitate the project, ensure interaction with state bodies, and support the investment project at all stages.
In turn, Tin One Mining will invest, according to preliminary estimates, at least 150 billion tenge (over $315.5 million at the current exchange rate of the National Bank of Kazakhstan) after approval by the Solidcore Resources board of directors in the development of the deposit, construction of the processing plant and related infrastructure. The company undertakes to implement the project using modern technologies for mining and processing minerals, best world practices in environmental protection and industrial safety.
The enterprise will create about 800 jobs. Priority in employment is planned to be given to residents of the region with the necessary education, qualifications and professional competencies.
Syrymbet is the largest undeveloped tin deposit in Central Asia. The deposit's reserves account for more than 70% of Kazakhstan's total tin reserves. The deposit was discovered in 1985. In accordance with JORC (economically viable extraction of resources), the deposit's reserves amount to 492.4 thousand tonnes of tin at a grade of 0.40% and 91.4 thousand tonnes of copper at a grade of 0.07% (or in total 5.9 million ounces of gold equivalent).
Given the global tin deficit and the growth of its value on the world market, the launch of production in Kazakhstan will strengthen the country's position as an exporter of non-ferrous metals and will allow it to join global supply chains of strategic raw materials.
Solidcore Resources is a leading gold producer in Kazakhstan, registered in the Astana International Financial Centre (AIFC), whose shares are listed on the AIX Stock Exchange. Solidcore's portfolio includes two operating enterprises and a major development project (Ertis Hydrometallurgical Plant or EHMP) in Kazakhstan.
Earlier it was reported that due to the decree of Russian President Vladimir Putin, the Amur Hydrometallurgical Plant stopped supplying gold in Dore alloy to Kazakhstan in May-June. This affected the reduction in production volumes of Kazakhstan's leading gold mining company Solidcore Resources plc.
In early August, Solidcore said that a decision to start construction at Syrymbet would be made in September. The project is completing the preparation of a feasibility study and engineering surveys, as well as preparing the construction site and equipment marketing.
At the end of 2025, Deputy Akim of the North Kazakhstan region Kanat Duzelbayev said that Tin One Mining (part of Solidcore Resources) would start production at Syrymbet in 2028. It is planned to extract 11 thousand tonnes of tin annually at the deposit. Investments in the project will amount to $227.8 million, it was noted then.
In June 2025, Aida Alzhanova, Deputy General Director for Strategic Development of Solidcore Eurasia, said that the company had re-evaluated reserves at Syrymbet. According to her, as a result, the deposit's reserves increased to 286 thousand tonnes of tin from 206 thousand tonnes previously, while copper reserves decreased to 55 thousand tonnes from 74 thousand tonnes previously.
Syrymbet is one of the largest undeveloped tin deposits in the world. In 2018, reserves were assessed according to the international JORC standard. Reserves were then estimated at 206 thousand tonnes of tin and 74 thousand tonnes of copper.
Solidcore Resources acquired at the end of 2024 a 55% stake in Tin One Holding, which develops the Syrymbet deposit in the North Kazakhstan region, from Lancaster Group for $82.5 million. One of the ultimate shareholders of Lancaster Group Kazakhstan at that time was the akim of Almaty Erbolat Dossaev (in 2025 he was replaced by Darkhan Satybaldy). His stake was in trust management of his wife Gulnara Dossaeva.
At the time of publication, Tin One Mining is owned by the private company Tin One Holding. The co-owners of the private company Tin One Holding are Berkut Mining and the private company Solidcore Eurasia Ltd. Berkut Mining is owned by Lancaster Mining PTE Ltd. (part of the Dossaev family's Lancaster Group). In turn, the private company Solidcore Eurasia Ltd. is owned by public Solidcore Resources Plc.