MANILA, Philippines — Nickel Asia Corp. (NAC), a leading Philippine natural resources developer, has announced a significant strategic move to diversify its portfolio beyond nickel by entering Kazakhstan's copper mining sector through a new investment agreement.
The company has signed a deal with Kazakhstan-based firms Silk Road Resources Ltd. and East Copper Production LLP. Under the agreement, NAC will acquire Silk Road's 20% membership interest in East Copper. East Copper is the sole owner of GRK MLD LLP, which holds the subsoil use rights for the Karchiga copper mine in Kazakhstan.
"This investment supports the company’s strategy to expand market capitalization and earnings by evolving beyond nickel into a diversified natural resources development platform with a growing presence across Asia," NAC stated in a regulatory disclosure.
The Karchiga deposit is located within the Central Asian Orogenic Belt, a region globally recognized for its rich mineral endowment. The transaction's completion is contingent upon standard conditions, including satisfactory due diligence on the involved Kazakh entities and securing all necessary regulatory approvals from relevant authorities. This move marks a pivotal step in NAC's ambition to become a broader Asian natural resources powerhouse.