The European Bank for Reconstruction and Development (EBRD) says it is continuing to support the exploration, development, production and processing of critical raw materials (CRM) in Kazakhstan by making a follow-on equity investment of AUD 1.4 million in Sarytogan Graphite Limited, an Australian Securities Exchange-listed company developing one of the world’s largest known high-grade graphite deposits.
The investment will increase the EBRD’s stake to 18.4 per cent, maintaining its position as a significant minority shareholder.
Sarytogan will use the proceeds to complete an upstream definitive feasibility study and to finance project-related development activities, such as environmental work and product marketing.
Graphite is recognised as a CRM mineral and has a wide range of uses, including in electric vehicle batteries, the electric power industry and metallurgy.
The EBRD has invested almost US$ 12.6 billion (€10.8 billion) in Kazakhstan through 352 projects, making the country the largest and longest‑running recipient of EBRD investment in Central Asia.
