Solidcore Resources plc (AIX: CORE) (former Polymetal International plc) unites enterprises for the exploration, production and processing of precious and non-ferrous metals in the Republic of Kazakhstan and is one of the largest gold producers in the Republic.

By the end of 2023, the Company's enterprises produced a total of about 15 tons of gold from their own raw materials, which is the second indicator in the country in terms of primary gold production.

The Company's shares are listed on the stock exchange of the Astana International Financial Center - Astana International Exchange (Kazakhstan).

The Company's enterprises in Kazakhstan include:

1.     The Varvarinsky hub includes the Varvarinskoye and Komarovskoye gold and copper deposits, as well as the Varvarinskoye gold mining and Processing plant (GMaPP) of  Varvarinskoye JSC.

The hub is located in the district of Beimbet Mailin and Zhitikarinsky district of Kostanay region.

The final products are gold in the form of a Dore alloy and copper concentrate.

The annual production volume is about 5 tons of gold.

The GMaPP with a capacity of 4.2 million tons per year is kind of unique, as it is capable of simultaneously producing copper concentrate and Dore alloy. The factory was put into operation in 2007. The finished products in the form of copper concentrate are sent for processing to Kazzinc, and the Dore alloy is sent for further processing to the Tau-Ken Altyn refining plant.

In order to replenish the mineral resource base of the hub, a number of exploration projects are also being implemented in Kostanay and North Kazakhstan regions, including in partnership with the National Exploration Company “KazGeology”.

2.     The Kyzyl project includes the Bakyrchik and Bolshevik gold deposits, as well as the processing plant of Bakyrchik Mining Enterprise LLP.

The hub is located in the Zharma district of the Abai region.

The final product is a gold–containing concentrate.

The annual production volume is about 10 tons of gold.

Bakyrchik processing plant has been operating since 2016, during operation the capacity of the mining and processing complex has been increased from 1.8 to 2.4 million tons per year.

The factory produces a gold–containing concentrate of double persistence (arsenic and carbon) of two types - high-carbon and low-carbon concentrate. Due to the lack of environmentally friendly processing technologies in the country, the Company is forced to export high–carbon concentrate to China, and low-carbon concentrate is processed independently by autoclave leaching at the Amur Hydrometallurgical Combine, with the return of the resulting Dore alloy to Kazakhstan for further refining at the Tau-Ken Altyn plant.

In 2023, the Company decided to increase the production conversion rate for processing Bakyrchik high-strength concentrates and relocate the production of Dore from Bakyrchik ore from Russia to Kazakhstan. Thus, a strategically important project for the Company has been launched for the construction of a Hydrometallurgical plant in Pavlodar.

In order to replenish the mineral resource base of the hub, the reserves of the Sarbas and Abai deposits in the Zharma district have been put on the state balance.

3.     The construction of the hydrometallurgical plant "Ertis HMP" in the Special Economic Zone "Pavlodar", Pavlodar region.

The final product is Dore alloy.

The annual planned production volume is about 15 tons of gold.

The aim of the project is to create a hydrometallurgical complex in Kazakhstan for processing "resistant" and "twice resistant" gold-silver-containing concentrates, using autoclave oxidation technology. This is a unique technology in the world, recognized as the safest and most sustainable technology in the hydrometallurgical industry.

The design capacity of the plant will be 300 thousand tons of concentrate per year. It is planned to produce a Dore alloy with a purity of up to 98% gold.

The planned investments amount to more than 730 million US dollars, which the Company plans to raise from its own reserves, as well as from funds from international financial institutions.

After the facility is put into operation, it is planned to create about 500 new jobs in the region.

Pre-project preparation is currently underway. A land plot has been leased for the construction of the plant on the territory of the Pavlodar SEZ, work is underway to bring engineering and other communications to it.

4.     Exploration projects (greenfield)

In order to replenish the mineral resource base of existing enterprises and search for promising deposits for the creation of new production facilities, the Company carries out an extensive exploration program.

The portfolio of exploration projects includes facilities at the greenfield stage, work is carried out on the basis of licenses for geological exploration of the subsurface and licenses for exploration of solid minerals.

To implement the exploration program, separate enterprises were established in Central Kazakhstan - ZhanaMys LLP, in East Kazakhstan - Tarbagatai Keni LLP, in Kostanay region – SP KMK LLP, in North Kazakhstan region – Nur Baiken LLP.

In addition, the Company is actively working with juniors, including the joint implementation of exploration projects from the field work stage to the assessment of mineral reserves in accordance with KazRC standards, with full methodological and financial support from the Company.

5.     The project of construction of a geological assay and analytical laboratory in Karaganda

Taking into account the increasing volume of exploration work carried out by the Company's enterprises, it was decided to build its own geological assay and analytical laboratory to optimize the timing of analysis and evaluation of the Company's geological facilities.

The laboratory is located in the Special Economic Zone "Saryarka", Karaganda.

The planned date of commissioning of the facility is the 4th quarter of 2025.

The laboratory's production capacity will be 200,000 samples annually. The complex will include a sample preparation workshop, a modern assay and analytical complex, a core storage facility for the placement and storage of samples from nearby Company facilities and an administrative building. With the launch of the laboratory, it is planned to create about 100 jobs.

6.     Solidcore Eurasia LLP is located in Astana.

The holding company's activities include representing the interests and managing the Group's assets in Kazakhstan and Central Asian countries. The main tasks include: replenishment of the mineral resource base, implementation of production and investment projects, coordination of work with government agencies and national companies in the field of regulation of the mining and metallurgical industry.

In April 2019, the Company became the first foreign issuer to list its shares on the AIX exchange. In 2023, the Company completed the redomicilation procedure with the registration of the head office in the Astana International Financial Center and the transfer of the main listing to the AIX exchange.

In 2024 the Company sold its assets in the Russian Federation and was renamed to Solidcore Resources plc.