Kaz Resources LLC and Cove Kaz Capital LLC Announce 2025 Work Programs to Advance Critical Minerals Projects in Kazakhstan

NEW YORK, June 19, 2025 (GLOBE NEWSWIRE) -- Kaz Resources and Cove Kaz Capital LLC, Portfolio companies of Cove Capital LLC, are pleased to announce the launch of their respective 2025 work programs across its key critical mineral assets in Kazakhstan. These initiatives reflect a shared commitment to accelerating on-the-ground activity across our licensed concessions, tailings, and the joint venture projects with Kazakhstan’s national partners.

Key Highlights of the 2025 Work Programs:

• Kaz Resources LLC will continue advancing its exploration program across its concession portfolio in East Kazakhstan. Building on the success of its 2024 drilling campaign, the Company will initiate follow-up resource development activities, including step-out and infill drilling, surface geochemical sampling, and targeted geophysical surveys. These efforts will focus on high-priority ore zones delineated for their lithium and polymetallic prospectivity, with the objective of expanding known historical mineralization and defining drill-ready targets for future resource estimation.
• Kaz Resources LLC has initiated a comprehensive metallurgical test work and pilot plant program to evaluate the recovery of lithium, tantalum-niobium, and other critical minerals from historical tailings located on its licensed concessions. The program will involve systematic tailings sampling, detailed mineralogical analysis, and a pilot-scale processing phase. The objective is to develop a viable process flow sheet to support a fast-tracked development strategy aimed at bringing the tailings into commercial production.
• Cove Kaz Capital LLC, through its newly formed joint venture, Akbulak REE Ltd., is advancing the Akbulak Rare Earth Project in partnership with Qazgeology JSC, Kazakhstan’s national geological company, and subsidiary of Kazakhstan’s national mining company, Tau-Ken Samruk. The joint venture is in the process of obtaining final approval from the Ministry of Industry and Construction for the transfer of the exploration license to Akbulak REE Ltd., which is established under the AIFC legal framework.
  
  Concurrently, the joint venture is preparing to initiate initial exploration activities at the Akbulak site in the Kostanay region. The program will begin with a desktop review of historical geological data, surface mapping, structural and alteration analysis, targeted sampling, and metallurgical testing, forming the groundwork for a staged exploration campaign.

The Akbulak Rare Earth Project hosts a historical resource of 380,000 tons of rare earth oxides, including neodymium and praseodymium, key elements in permanent (NdFeB) magnets, and yttrium, utilized in electronics, medicine, and materials science applications.

Pini Althaus, CEO of Kaz Resources, commented:

“The 2025 programs reflect the momentum we’ve built since entering Kazakhstan in 2023, and our intention to deliver tangible progress across our exploration assets, strategic tailings, and rare earths development. This is a coordinated step forward, aligned with Kazakhstan’s resource development goals, which include establishing a fully-integrated supply chain, and meeting US and global critical mineral supply chain needs.”

“This partnership represents a practical example of how international cooperation can accelerate resource development in Kazakhstan. We look forward to seeing tangible results from the Akbulak project and continuing our productive collaboration with the private sector,” said Dauren Abuov, Acting CEO of Qazgeology JSC.

These efforts mark a continuation of both companies’ contribution to Kazakhstan’s role as a critical minerals partner and regional development leader.

For further information, please contact:

Brandon McGrath
Samantha O'Neil
info@covecapital.com.au

About Cove Capital LLC

Cove Capital was founded in 2015. With offices in Melbourne and New York (head office), Cove Capital invests in mining, renewable energy, and clean technology. Since 2018, Cove Capital has been at the forefront of investment and development in critical minerals projects. Cove Capital, under the visionary leadership of Mr. Pini Althaus, brings unparalleled knowledge and extensive experience to the critical minerals industry.

About Qazgeology

Qazgeology is Kazakhstan’s national geological exploration company, and a wholly owned subsidiary of national mining company, Tau-Ken Samruk, dedicated to the discovery and development of the country’s mineral wealth. Through strategic partnerships and cutting-edge research, Qazgeology plays a pivotal role in advancing Kazakhstan’s mining industry and unlocking new resources for future development.

About Tau-Ken Samruk

Tau-Ken Samruk is the national mining company of Kazakhstan, overseeing the efficient development of the country’s mineral resources. Committed to innovation and sustainability, Tau-Ken Samruk collaborates with domestic and international partners to enhance the competitiveness of Kazakhstan’s mining sector and support economic growth.