OREANDA-NEWS. November 09, 2009. SAT & Company (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

SAT & Company closed a deal on acquisition of Kaznickel LLP.

A subsidiary of SAT & Company, Ferroalloy plant Ertis acquired a 100 % share in Kaznickel (the Company).

The Company has a contract for exploration and mining of cobalt and nickel ores at the Gornostaevskoe deposit, located at Beskaragayskiy region of Eastern Kazakhstan. The Company is actively exploring the deposit since 2004.

Gornostaevskoe C2 deposits, approved by the State Commission for calculation of deposits in 1999, has 20.4 m tons of ore, containing 173 th ton nickel and 12 th ton cobalt. Preliminary calculation of deposits as for April 2008 showed over 13.1 m ton ore of category В and С1 containing 118 th ton of nickel and 13.2 m ton of ore of category С2 containing 117 th ton of nickel.

Currently there are pre-feasibility study works going on the Gornostaevskoe deposits and it is planned to launch metallurgy production with capacity 50 to 150 th of ferroalloys a year containing Ni 20 %.

Nickel is an essential component of alloys and stainless steel. Acquisition of Kaznickel is an improvement of raw material base of SAT & Company and an important project in developing of metallurgical capacities.