A Supervisory Board responsible for business strategy coordination, sustainable development and ESG best practice is established in “KAZNICKEL” LLP. Mr. Kenges Rakishev is elected as the Supervisory Board’s Chairman. 

Almaty, October 11, 2021 – “Fincraft Resources” JSC, one of the largest mining and metallurgy holdings in the Republic of Kazakhstan, announces on establishment of Supervisory Board in “KAZNICKEL” LLP, a cobalt-nickel mining asset of the Group.

The elected members of the Supervisory Board are:

● Kenges Khamitovich Rakishev, Chairman of the Board of Directors, “Fincraft Resources” JSC – Supervisory Board Chairman

● Bektas Amangeldinovich Mukazhanov, Chief Executive Officer, “Fincraft Resources” JSC – Supervisory Board Member

● Erlan Sapargalievich Idrisov, Director General, Battery Metals Technologies – Supervisory Board Member.

The Supervisory Board is set up in order to strengthen corporate governance within the “Fincraft Resources” JSC and improve strategic management in one of the key assets of the Group. The newly established Supervisory Board will be responsible for supervision, approval and control over implementation of the development strategy and corporate culture as long as over management’s performance in compliance with the best corporate governance practice, specifically, advanced ESG corporate expertise.

“Availability of the Supervisory Board in an entity established as a limited liability partnership is not mandatory by the law, however is the best international practice we are striving to adhere strictly. It is a further step of Fincraft Resources towards the development of the up-to-date corporate governance system in our metallurgical “battery” division – a flagship for deployment of “green” technologies under the trademark of Battery Metals Technologies”, noticed Mr. Kenges Rakishev, Chairman of the Board of Directors of “Fincraft Resources” JSC and the Supervisory Board’s Chairman of “KAZNICKEL” LLP.

 

About “KAZNICKEL” LLP:

“KAZNICKEL” LLP is a license holder for exploration and mining of cobalt-nickel ore at Gornostayevskoye ore field. “KAZNICKEL” LLP is owned by Battery Metals Technologies, a company controlled by “Fincraft Resources” JSC.

“KAZNICKEL” LLP implements a project for mining development of an ore field applying innovative technology of drillhole in-situ leaching (drillhole ISL). Mentioned technology allows to eliminate negative impact on ground surface and environment as compared to conventional methods for metal extraction; fully automate production cycle; significantly reduce the COGS of extracted metal.

The field is located in Beskaragay district of East Kazakhstan province. The field reserves are: ore – 81 946 thous.m3, nickel (Ni) – 627,6 thous.tons, cobalt (Со) –  42,23 thous.tons  (reserves are classified as indicated and inferred according to CSA Global (JORC, 2021)). The expected mine life – over 30 (thirty) years.