Astana, 29 October. The board of Solidcore Resources has taken the final investment decision on the Syrymbet tin-copper project in North Kazakhstan Region: initial capital expenditure is estimated at $468 million and first production is expected in the second half of 2029, the company said.
Syrymbet is one of the largest undeveloped tin deposits in the world; it lies in Aiyrtau district, 80 km north-west of Kokshetau. The deposit was discovered in 1985, and exploration and assessment were carried out from 1986 to 2012. The plant will produce a tin concentrate grading about 50% and a copper concentrate: about 6,000 tonnes of tin and 4,000 tonnes of copper a year. Tin will be recovered by gravity concentration and copper by flotation.
Solidcore owns 55% of the project and Lancaster Group the rest. "Together with our partner, Lancaster Group, we look forward to bringing Syrymbet into production in H2 2029 and becoming a major player in the global tin market," the company said. Solidcore bought its 55% stake in October 2024 from Berkut Mining LLP, a subsidiary of Lancaster Group, for $82.5 million.
The project's cost estimate has grown over two years: in April 2025 Solidcore's chief executive Vitaly Nesis told Reuters of an investment of about $250 million, and in August 2026 a memorandum with the regional administration referred to at least 150 billion tenge.
What it means: Kazakhstan will get its first large-scale tin production: the project has moved from exploration to construction and has a start date.
Who benefits: North Kazakhstan Region – a new mining operation, jobs and taxes. Solidcore – its first major project outside gold.
Background: Syrymbet's resources under the JORC code are estimated at 492,400 tonnes of tin at a grade of 0.4% and 91,400 tonnes of copper. Solidcore, formerly Polymetal International, has been Kazakhstan's second-largest gold producer since selling its Russian assets in 2024; its largest shareholder is a consortium led by an Omani state fund.
