IG Global Group and RLS Metals Announce Strategic Partnership in Kazakhstan
NUR-SULTAN, Republic of Kazakhstan, Nov. 03, 2021 (GLOBE NEWSWIRE) -- IG Global Group LLC (“IGG”) and RLS Metals Ltd (“RLS”), together “The Companies”, are pleased to announce the signing of a partnership and collaboration agreement for mineral exploration in the Republic of Kazakhstan.
IGG has entered into an exclusive agreement to invest in RLS Metals, which holds numerous mineral exploration tenements representing over 3,500 square kilometers of highly prospective copper and gold targets. The transaction brings the strength and depth of the IG team into the RLS Metals exploration endowment.
Both IGG and RLS believe the Republic of Kazakhstan to have exceptional opportunities for the discovery and development of world-class copper and gold deposits. The Companies are committed to strategic planning and cooperation for the joint optimal exploration of these mineral assets, and each have highly experienced teams in place that are now focusing on identifying numerous flagship deposits.
Thomas E. Bowens, President & CEO of IGG and Travis Naugle, Managing Director of RLS Metals Ltd stated, “This strategic partnership solidifies our goal to target high value gold and porphyry copper gold assets for exploration and development. We are confident that the combined expertise of our companies, and our shared track records of achievement, make this a powerful combination for success. Thanks to the vision and foresight by the leadership of the Republic of Kazakhstan, we believe that Kazakhstan’s rich mineral endowment has become uniquely positioned to supply strategic metals needs for the renewable energy economy.”
On the Republic of Kazakhstan
The Republic of Kazakhstan is extremely rich in mineral resources thanks to the very favourable geographical position of the country. It has a very diverse geological composition, including: gold, copper, chrome & iron ore deposits, polymetallic deposits, tungsten, molybdenum and uranium ores, as well as a large supply of oil and natural gas resources.
Kazakhstan has spent the last five years establishing an efficient mining investment framework. In 2016, Kazakhstan became a member of the Committee for Mineral Reserves International Standards, and in 2017 it adopted simplified mineral licensing after the Australian model, ensuring open access to geological data and its digitization, as well as a simplified procedure for providing subsoil use rights, establishing and classifying mineral resources.
Some of the very large, modern projects being developed in Kazakhstan are Aktogay (large scale open pit mine located in the East Kazakhstan Region (KazMinerals), Bozshakol (large scale open-pit copper mine in the Pavlodar Region (KazMinerals), and Koksay (copper mine development project in south-eastern Kazakhstan).
About IG Global Group LLC
IGG is a private international holding company focused on the exploration and development of world class mineral deposits. The Company’s collective activities consist of mineral exploration, mining operations and mining service companies, with projects and clients in the United States and the Russian Far East. IGG was founded in 2010 by Thomas E. Bowens, a Certified Professional Geologist, with degrees in Economics, Geological Engineering (Magna Cum Laude) and a master’s degree in Geology (the latter two from the Colorado School of Mines). IGG brings together experienced professionals who are innovators in their fields with selected technical consultants who are well-versed in the latest industry exploration and mine development techniques and technologies. For more information, visit www.igglobalgroup.com.
About RLS Metals Ltd
RLS is a private holding company focused on the identification and development of mineral deposits in the Republic of Kazakhstan with a mission to deliver precious and strategic metals to the global market in support of the new energy economy. Founded by managing director Travis Naugle, a licensed Professional Engineer with MBA from the University of Chicago Booth and a degree in Mining Engineering from Montana Tech, the RLS team has led numerous industrial successes in Kazakhstan, the Russian Far East and China. RLS applies best business practices in all areas of safety, environment, sustainable operations and development, optimizing both local and international expertise for the benefit of the Republic of Kazakhstan and all stakeholders. For more information, visit: www.rlsmetals.com