https://www.engineeringnews.co.za
Mining|PROJECT|Operations
Mining|PROJECT|Operations
mining|project|operations

Kazakh mining startup Battery Metals seeks Hong Kong listing

14th January 2021

By: Reuters

  

Font size: - +

ALMATY – Battery Metals Technologies, a Kazakhstan-based nickel and cobalt mining company, plans to raise funds through an initial public offering and list in Hong Kong, the firm told Reuters.

The company said on Thursday it plans to develop the Gornostayevskoye deposit located close to the Kazakh-Chinese border, one of the largest nickel deposits in the Central Asian nation, which has close economic ties with Beijing.

Battery Metals said it saw Chinese lithium-ion battery producers, which use nickel as a key component, as its primary potential customers.

"Although we do not limit ourselves to the Chinese market, we see it as one of the key markets for our project," the firm said in a statement.

Battery Metals Technologies declined to disclose details of the offering including its planned value, citing restrictions imposed by the Hong Kong stock exchange.

However, the company in a filing said it aimed to raise enough money to fund the development of its Gornostayevskoye project, adding that it would extract minerals using in-situ recovery and conduct operations in an ecologically responsible manner.

Battery Metals said it plans to start production in 2023 and ramp it up to 20,000 tonnes of nickel per year and approximately 1 300 t/y to 1 500 t/y of cobalt by 2039.

The startup, in which Kazakh businessman Kenges Rakishev has a controlling stake, estimates first-stage costs at $103-million with total project costs to be $1.5-billion.

Edited by Reuters

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.08 0.139s - 160pq - 2rq
Subscribe Now