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Last Updated: 25 April 2026
Publication: 9 October 2025
PROJECT DESCRIPTION
A joint venture has been established to develop the Chu-Sarysui basin, the world's third largest sedimentary copper basin Robert Friedland, Executive co-chairman of the Canadian company Ivanhoe Mines, reported to President of Kazakhstan Kassym-Jomart Tokayev on the start of large-scale exploration work in the Chu-Sarysui copper basin, the press service of the head of state reported following the meeting. According to Friedland, the company plans to use advanced aerogeophysical technologies and digital data analysis. The joint venture with the British private company Pallas Resources covers a highly promising license package with an area of up... Read more
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Other important details
Robert Friedland, Founder and Executive Co-chairman of Ivanhoe, commented: "Perhaps you are wondering why we are going to Kazakhstan? Because Kazakhstan is the largest mining jurisdiction and the deposit of the world's third largest sedimentary copper basin. Ivanhoe Group has a long history of working in Kazakhstan... we love this country, we love its people and we look forward to returning to this amazing country to further unlock the significant geological potential of the Chu-Sarysui basin.
The Chu-Sarysui basin is the world's third largest copper basin after the Central African Copper Belt and the European Kupfershifer, it contains 27 million tons of proven copper reserves.
It includes large deposits such as the 100-year-old Zhezkazgan complex containing more than 22 million tons of copper. This huge complex produces about 200,000 tons of copper per year, as well as a significant amount of associated silver, at one open pit mine and six underground mines.
The United States Geological Survey (USGS) estimates that about 25 million tons of undiscovered copper reserves remain in the Chu-Sarysui basin, indicating its untapped potential. In addition, the basin contains deposits of lead, zinc, silver, barium and strontium. Despite the significant prospects, exploration work on new deposits has not been carried out in the entire region for more than 40 years.
Strategic financing: Ivanhoe Mines will initially finance the project alone in the amount of USD 18.7 million over two years, with the option to invest up to USD115 million over four years to obtain a 51% stake in the joint ventures.
Focused exploration: The partnership will focus on large-scale geophysical surveys, exploration mapping, and geochemical campaigns to identify promising sites.
World-class expertise: The alliance combines Pallas' extensive datasets and local expertise with Ivanhoe Mines' world—renowned experience in exploring copper deposits in sedimentary rocks, demonstrated by their discovery of the Kamoa-Kakula complex, currently the third largest copper mine in the world.
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