Kazakhstan's Tau-Ken Samruk, Turkey's D Mineral intend to establish JV to search for gold in Kazakhstan

ASTANA. April 12 (Interfax) - Kazakhstan's Tau-Ken Samruk national mining company and Turkey's D Mineral are planning to create a joint venture for exploration, the press service of the Kazakh company said in a statement.

Tau-Ken Samruk head Bakyt Chirchikbayev and D Mineral deputy chairman of the board of directors Ilkhan Poyraz signed the agreement on the main terms and conditions of the deal, aka the terms sheet.

According to the statement, the parties plan to start searching and studying prospective areas, "for which it is planned to obtain licenses for exploration and the creation of a joint venture."

"The future joint venture will focus on searching for gold deposits. The Turkish side will finance exploration," according to the statement.

Established in 2009, JSC Tau-Ken Samruk unites the mining assets of the government and is part of Kazakhstan's Samruk-Kazyna state fund.

On the website of D Mineral ve Madencilik Sanayi Ticaret A.S., the company is said "to have more than 30 years' experience in the mining industry" and extracts iron ore and copper.