Verkhuba Copper Project
PROJECT ID
1212202501
SECTOR
Mining & Metallurgy
PROJECT PHASE
Initiation & Feasibility
LOCATION
East Kazakhstan Region, 070000, Kazakhstan
END DATE
12/31/2028
INVESTMENT VALUE
$ 65 M
Active
Verified
Last Updated: 25 April 2026
Publication: 12 December 2025
PROJECT DESCRIPTION
The Verkhuba Copper Project is a mining development initiative focused on advancing the Verkhuba copper deposit in eastern Kazakhstan toward commercial production. The project is governed by a binding Heads of Agreement (HoA) between East Star Resources Plc and Hong Kong Xinhai Mining Services Limited, establishing a joint venture company (JVCo) to finance, design, and construct the mining and processing facilities. Under the phased farm-in structure, Xinhai will earn up to 70 % of JV equity by funding all project costs through feasibility, engineering, construction, and commissioning. East Star retains a residual 30 % interest without contri... Read more
Involved Companies & Contacts
INVOLVED COMPANIES & CONTACTS
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Location
Locations shown on the map are for indicative purposes and may vary from actual locations.
Other important details
Hong Kong Xinhai Mining Services Limited will fully fund development and assume increasing equity stakes in the joint venture in exchange for capital and execution responsibilities. Provide engineering design, procurement, construction, and contract mining services.
East Star Resources Plc holds the mining licence (Licence 1795) that includes the Verkhuba deposit. Responsible for regulatory approvals, stakeholder engagement, and coordinating environmental/permitting activities. Will retain a 30 % interest in the JVCo upon full farm-in by Xinhai.
The JV Agreement provides Xinhai exclusivity over Licence 1795 for up to 180 days to negotiate and execute the definitive agreement.
Once executed, the JVCo must be established within 90 days and registered at the Astana International Financial Centre (AIFC).
Initial planned work includes approximately 5,000 m of drilling funded by Xinhai to inform the feasibility study.
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