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Verkhuba Copper Project
Project ID:
1212202501
Project Name:
Verkhuba Copper Project
Project Sector:
Mining & Metallurgy
Photo source:
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 contributing further capital, while maintaining full ownership of its other exploration assets. The arrangement is intended to derisk and accelerate development, with drilling, feasibility work and processing plant construction planned. Xinhai, a global process engineering and construction specialist, brings EPC expertise and financial capacity. Verkhuba’s deposit has a JORC resource of approximately 20.3 Mt of ore with copper, zinc, and lead grades, making it a strategic asset in East Star’s portfolio. The planned facility aims for 1 million tonnes per annum capacity. Registration of the JVCo is expected at the Astana International Financial Centre.
Project Phase:
Initiation & Feasibility
Investment Value:
65 000 000 $
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Start Date:
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End Date:
12/31/2028
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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.
Publication/Revision Date:
12/12/2025