Nickel Asia Corporation (NAC), through wholly owned subsidiary NAC Global Investments Pte. Ltd., has completed the acquisition of a 20% interest in East Copper Production LLP, giving the company indirect exposure to the Karchiga copper mine in Kazakhstan.
The transaction carried a total consideration of USD 30 million. NAC had earlier paid USD 10 million after completing due diligence, while NAC Global settled the remaining USD 20 million upon satisfaction of all closing conditions.
The completion advances a transaction that Nickel Asia had already been pursuing earlier this year as part of its expansion into international mining investments.
East Copper owns 100% of GRK MLD LLP, which holds the subsoil use rights for the Karchiga copper mine.
According to unaudited financial results for the first half of 2026, GRK MLD generated around USD 70 million in revenue and USD 40 million in earnings before interest, taxes, depreciation, and amortization (EBITDA).
Copper production during the same period reached 5.24 kilotons.
Nickel Asia said the completed transaction gives the company immediate exposure to an operating copper asset without taking on the development risks associated with a greenfield project.
Management also expects the investment to strengthen the company’s earnings base and position it to benefit from the long-term outlook for copper demand.
The acquisition broadens Nickel Asia’s exposure beyond its traditional nickel operations and adds an international copper investment through its Singapore-based subsidiary.
The company noted that the deal was completed as copper prices remain elevated amidst demand from data centers, electric vehicles, and power-grid modernization.
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Could the Karchiga investment mark the start of a broader push by Nickel Asia into copper and other critical minerals?
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