East Star and Endeavour Mining launch $ 25 million gold exploration joint venture in Kazakhstan
East Star Resources has signed a strategic earn-in and joint venture agreement with Endeavour Exploration, a subsidiary of global gold producer Endeavour Mining, to accelerate gold exploration across Kazakhstan. Under the agreement, Endeavour has committed more than $ 25 million in staged investments, allowing it to earn up to an 80% interest in a newly established joint venture focused on developing large-scale gold discoveries in the country.
The investment will be made in phases. Endeavour will initially invest $ 5 million over two years to earn a 51% stake in the joint venture. A further $ 20 million investment over the following three years would increase its interest to 70%, while the remaining 10% can be earned by funding and completing a prefeasibility study on qualifying discoveries. During the earn-in period, East Star will manage the joint venture and lead exploration activities.
The partnership will focus on two highly prospective but underexplored gold belts in Kazakhstan, combining East Star's local geological expertise and project portfolio with Endeavour Mining's technical capabilities and financial strength. The agreement reflects growing international interest in Kazakhstan's mining sector, supported by the country's modern mining legislation, rich mineral resources, and expanding role as a destination for foreign investment in critical and precious metals exploration.
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