The modern tech is based on ubiquitous batteries. Every wireless device need it. Most of the batteries are made in Asia, and exactly there Kenes Rakishev plans to develop the nickel and cobalt deposits.
Kenes Rakishev is, despite his age, a veteran high-tech investor. His extensive background in mining and metal refinement businesses, however, allows him to create amazing synergies. This time it’s all about supplying the metals which are in high demand within battery maker business community. So Mr. Rakishev made a bold investment in developing nickel and cobalt ores of Kazakhstan to supply the World’s factory, with the metals needed to make batteries.GV Gold mine was viewed as an investment opportunity by Kenes Rakishev, Roman Trotsenko and Fosun investment company.
The new company, Battery Metals Technologies will excavate metals in Gornostayevskoye deposit. It is located near Chinese border so there will be no shortages in customers. Nickel is used in lithium-ion batteries which are needed to power most of the modern devices, from smartphones to electrical vehicles.
Speaking of EV’s lets remind that in 2020 Kenes Rakishev’s NASDAQ-trading Net Element company merged with Mullen Technologies, one of the promising companies aiming at the hi-end electric car markets. Mullen plans to manufacture the cars in China, and batteries are one of the most important part of the devices. Having secured the necessary ore deposits and licenses the Battery Metals Technologies company starts to raise funds at Hong Kong exchange IPO.
“Although we do not limit ourselves to the Chinese market, we see it as one of the key markets for our project,” Kenes Rakishev told the press.
One of the goals of the company is to extract the ore in environmentally friendly way. Kenes Rakishev said that the plan is to start the production in 2023. It will reach 20,000 tones of pure nickel and 1300-1500 ton of cobalt yearly by the year 2039. Kenes Rakishev has experience with metal mining companies, including the golden mines.