Nickel Asia Secures Stake in Kazakhstan Copper Mine

Nickel Asia Corp., a leading nickel mining company, has completed its $30-million acquisition of a 20-percent stake in the Kazakhstan copper mine East Copper Production LLP. The transaction was first signed on April 22 and involved Nickel Asia's Singapore unit, NAC Global Investments Pte.

The Karchiga copper mine is located at the Central Asian Copper Belt, where global copper prices have reached near-record highs driven by artificial intelligence data center expansion, electric vehicles, and power-grid modernization.

Nickel Asia paid $10 million after completing due diligence and the remaining $20 million once all conditions were met under the Membership Interest Sale and Purchase Agreement (SPA).