On August 2, 2022 Kazgeology JSC and Condor Energy Inc. signed a Memorandum of Cooperation in Prospecting, Exploration and Evaluation and Possible Development of Solid Mineral Deposits in the Republic of Kazakhstan.
The Memorandum provides for the selection and preparation of prospective projects by Kazgeology for Condor.
The purpose of the memorandum is to confirm the parties’ agreed intentions to carry out joint activities.
The parties also agreed on various formats of cooperation, including joint projects to obtain geological information and theses on the subsoil areas proposed by Kazgeologiya for the purpose of preliminary study and analysis of the projects’ prospects to make a decision on financing.
In addition, the parties plan to exchange information promptly on decisions made and, if necessary, to establish working groups of their representatives to prepare proposals to implement the Agreement and to review issues relating to the successful implementation of projects. The document is aimed at strengthening the long-term mutually beneficial partnership of the parties.