East Star Resources Plc (LSE:EST) has signed a joint venture with Hong Kong Xinhai Mining Services Limited to progress the Verkhuba Copper Deposit in Kazakhstan. Under the agreement, Xinhai will invest around US$65 million to move the project through five development phases toward production, while East Star will maintain a 30% ownership interest. The partnership is set to fast-track Verkhuba’s advancement without requiring additional capital from East Star, enabling the company to allocate resources to its broader exploration pipeline. This deal highlights East Star’s commitment to expanding its copper and gold portfolio in Kazakhstan and could strengthen its competitive position while delivering value to shareholders.
More about East Star Resources
East Star Resources Plc focuses on exploring and developing copper and gold assets across Kazakhstan. Its activities include the joint venture with Hong Kong Xinhai Mining Services to develop the Verkhuba Copper Deposit, alongside several other promising exploration targets throughout the region.
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