Cooperation Agreement with Kazakhstan Government

Today at the Kazakh-British Intergovernmental Commission in London, Ferro-Alloy Resources signed a tripartite Agreement on Cooperation with the Ministry for Investment and Development of the Republic of Kazakhstan, vice-minister Khairov Yerlan Kartayevich, and with the Akimat of Kyzylorda region, Kusherbayev Krymbek Eleuovich, agreeing to the implementation of joint and coordinated actions for the implementation of the investment project “Autoclave conversion of black shales of the Balasausqandiq deposit”. Energy Metals Limited, a 100% subsidiary of Ferro-Alloy Resources Limited, registered in the UK, plans to invest approximately US$125m in the processing facilities for the treatment of concentrates and ore mined at Balasausqandiq. The Ministry agreed to consider investment preferences which potentially include elimination of customs duties for five years, elimination of corporate income tax for ten years, elimination of property tax for eight years and the Akimat will assist Ferro-Alloys in receiving such preferences as well as giving other assistance.

22 November 2016

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