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Frontier Mining Limited is a copper exploration and development company with a focus on Kazakhstan. The Company’s main activity is the Benkala Copper Project in North West Kazakhstan, which forms part of the Urals copper gold ore belt. Frontier has a 100% interest in Benkala through its subsidiary KazCopper LLP

Super Sector:
General Mining - Copper
General Mining - Copper
EPIC / Symbols:
*subject to change and depends on individual circumstances.

Frontier Mining Articles, News, and Media Files

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Frontier Mining Related Media

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Director dealings

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Date Director Trans Amount Type Price(p) Value (£) Holding %
23/09/14 Y.Z. Aliyev EX 1,124,742 OPT 0.00 0 259,808,409 13.84
23/09/14 W.D.R. Eppler EX 1,124,742 OPT 0.00 0 2,624,742 0.14
23/09/14 B.W. Bishop EX 1,124,742 OPT 0.00 0 1,912,302 0.10
23/09/14 Y.A. Tastanov EX 674,283 OPT 0.00 0 674,283 0.04
19/07/13 Y.Z. Aliyev BUY 752,000 ORD 1.75 13,160 1,612,000 0.09

Company Statement

Frontier operates in Kazakhstan directly through two wholly owned subsidiaries: FML Kazakhstan LLP and Baltemir LLP, and indirectly through KazCopper LLP via wholly owned subsidiary US Megatech BVI. All entities are Kazakh partnerships with limited liability.

FML Kazakhstan LLP maintains an administrative office in Almaty, the former capital city of Kazakhstan and the main business centre in the southeast.

All exploration and development personnel, with additional administrative support for exploration projects and a number of contractors, are based at offices in Aktobe (Benkala) and Semey (Naimanjal), connected to Almaty by regular commercial airline services.

Frontier also maintains a small corporate office in London (UK), providing the company with investor relations, finance, corporate and administrative functions.

(Baltemir LLP is currently a dormant company.)



Current Operations


Following the successful completion of a merger between Frontier and the private Kazakh mining group Coville Intercorp Ltd (“Coville”), Frontier has a 100% interest in Benkala.

A Competent Persons Report ("CPR") completed by Wardell Armstrong International ("WAI") resulted in an NPV of $190m for the oxide section of the project, which represents just 10% of the total resources at Benkala.

The mine is now developed to 30 metres and following construction of a SX-EW Plant on site, copper production commenced in August 2012.

The long-term future for production at the SX-EW plant was assured by the acquisition of South Benkala deposit in January 2012, adding an estimated 609,000 tonnes of contained copper to the project pipeline.

The Company has secured additional funding required to expand production at Benkala and commence a program of confirmation drilling at South Benkala.




The project lies approximately 450km east of Aktobe (formerly Aktyubinsk) and some 100km south of Zhitigara in North West Kazakhstan, close to the Russian border.

Located within the Urals Copper/Gold ore belt, the area presents favourable geography; the water table is within 25m of the surface and the flat landscape is ideal for heap leach processing.


Mining & Development

Current open pit mining targets near surface oxide mineralisation, developed to a depth of 30m. Construction at Benkala in 2011 and 2012 included a new SX-EW plant, operations camp and offices, railway siding, substation, roads and all other necessary facilities.


South Benkala

Located approximately 10km from Benkala, the deposit will benefit from the newly established infrastructure, extending the project life span. Exploration is underway.


  • Copper deposit discovered in 1968
  • 1976 - 1979: Soviet exploration; 21,800m of drilling
  • 2006: confirmatory drill programme (Coville)

  • Nov 2007: Frontier acquires 50% interest

  • 2008 - 2010: drilling targets oxide mineralisation
  • Jun 2010: fleet purchased, operations commence

  • Jan 2011: WAI resource estimate 1.56Mt contained Copper (0.25% cut-off): 183,000t oxide resource; 1,378,000t sulphide resource (JORC-compliant)
  • Apr 2011: Frontier completes successful merger with Coville Intercorp Ltd; consolidating 100% interest

  • Jan 2012: South Benkala acquisition completed;
  • Soviet estimate (GKZ) 609,600t contained Copper
  • Aug 2012: Oxide production commences at Benkala SX-EW plant; 7,000t per annum capacity
  • Sep 2012: First copper shipment despatched (130t)

  • Plant expansion underway; 10,000tpa in 2013
  • WAI Bankable Feasibility Study underway for development of Benkala sulphide resource.




Operations are currently focused on the development copper porphyry deposit with associated gold and molybdenum at Baitemir. Anticipated production at Baitemir includes ore from Beschoku and Yubileiny, prospects located on a 25km copper/gold trend in favourable proximity to planned facilities.




The licence area is located approximately 200km West of Semey (formerly Semipalatinsk) in North East Kazakhstan. Naimanjal licence represents four commercial discoveries covering 529km² hosting four active operations.



Development stage Copper project with associated gold and molybdenum; mineralisation within a 3km-wide zone.

Initial estimates suggesting 800,000 tonnes of contained Copper are consistent with recent assay results.


Beschoku & Yubileiny

Beschoku is an established Copper prospect located at the northern end of a 25 km copper-gold trend.

Yubilieny is positioned south east of Beschoku along the trend; drilling suggests high-grade Copper mineralisation.

Both deposits are in favourable proximity to planned infrastructure and plant development at Baitemir.


  • Aug 1998: Frontier acquires licence upon formation
  • 1998 - 2010: Operations focused on Gold and Silver production at Naimanjal Complex and Koskuduk
  • Jul 2010: Naimanjal Complex operations mothballed in favour of higher grades at Koskuduk
  • Aggressive exploration programme at Baitemir; significant footprint discovered:
  • — 17,000m drilled
  • — 14,500m trenched
  • Jun 2012: Koskuduk operations mothballed in favour of copper assets
  • 2012: 10,000m drill program continues at Baitemir
  • GKZ resource estimate for Baitemir planned for Q4 2012, JORC compliant estimate to follow
  • Upon completing initial exploration at Baitemir, analysis of prospective project economics will define further exploration and metallurgical testing to determine the optimal development route.




Yerlan Aliyev (43) is one of the principals of Coville Intercorp Ltd (Frontier’s largest shareholder) and a board member of Kazakhstan’s JSC Delta Bank.

Until very recently, he served as Chairman to the Board of Directors at Russian commercial bank JSC StarBank. Prior to this, from July 2008 to November 2009, he was Vice President and Finance Director of JSC Mangistaumunaigaz, one of Kazakhstan’s largest oil and gas companies.

Before joining JSC Mangistaumunaigaz, Yerlan served as Vice President of the Development Bank of Kazakhstan for a year, following eight months as Chairman of JSC Belkamit, a Kazakh oil and gas equipment producer. Prior to this, he served as Deputy Chairman of the Russian bank OJSC Sobinbank.

His previous roles include: Chairman of Slavinvest Bank; Vice-chairman of JSC Turan-Alem Bank; vice president of OJSC KazakhTeleCom; Vice-President of Air- Kazakhstan and Chief Treasurer of JSC KazCommertsBank.

Mr Aliyev studied for a Masters in Computational Mathematics and Cybernetics at Moscow State University, graduating in 1991. He later returned to Moscow State University’s Business School in 2003 to study for his MBA which he received in 2005.



Yerbulat Tastanov (63) is considered one of the most prominent mining experts in Kazakhstan; a member of KazAtomProm Technical Counsel and the Mining Reserves Development Committee of the Ministry of Industry and Trade of Kazakhstan.

Yerbulat was President of the Kazakh State Academy of Science Center for Earth Sciences, Metallurgy and Ore Enrichment, the highest State mining research centre, from October 2008 to March 2011.

Prior to his role at the State Academy, he was general director of LLP Scientific Production Enterprise Manganese from June 2005 and previously held various positions in ENRC group, Kazakhstan’s largest mining company, including; Director of Strategy and Innovation at Kazchrom, Deputy Chairman of Zhairem MBC and Deputy Director of Pavlodar Aluminum Plan.

Yerbulat graduated with a Metallurgy degree from the Kazakh Polytechnic Institute in 1966 and joined the institute' s research team, building a successful career that culminated in his role as Senior Scientist, Professor, Head of the Alumina Industrial Research Laboratory and Dean of School of Metallurgy.



Boyd Bishop (66) is a founder of Frontier and has served as a Director since the Company's formation in August 1998. He is also President of Bishop Associates, which specializes in technology transfer and infrastructure projects in the independent states of the former Soviet Union.

Boyd is on the board of several companies in these countries, including SEMTECH, a technology development company in Kazakhstan. Prior to forming Bishop Associates in 1990, he was a Senior Foreign Service officer of the US Department of State, where he gained 22 years of experience in international relations, focused on East-West issues.

He has a BA in International Affairs.



William Durand "Randy" Eppler (58) has over 30 years’ experience in the natural resources industry and serves as a Partner of Sierra Partners LLC, a private investment and advisory firm he founded in 2004 — exclusively focused on mining, oil and gas, and energy resource industries. He currently holds Board positions with Vista Gold Company, Augusta Resource Corp. and Golden Minerals Company.

Randy was President and CEO of Coal International plc until August 2008, an international coal mining and development company, prior to which he held various senior positions with Newmont Mining Corporation and its subsidiaries, the world’s second largest gold producer. Before joining Newmont, he served for 10 years as Managing Director of the Metals & Mining division for Chemical Securities, Inc., a subsidiary of Chemical Bank (now JPMorgan Chase).

In addition to his corporate roles, Randy has spent over 30 years as a member of the Society of Mining Engineers of the The American Institute of Mining, Metallurgical and Petroleum Engineers (AIME) and has served on the Global Leadership Council at the College of Business, Colorado State University, since 2001. He also served as Vice President of the United States-Ghana Economic Council, 2003 to 2004.

Major Shareholders

Frontier has 1,860,913,973 ordinary shares issued


Major Shareholders:

Coville Intercorp Ltd 873,215,000 46.9%

River House Consultants Limited 470,040,030 25.3% 

Others 517,658,943  27.8%


Updated from Company website 07.10.2013

  • Contact Information

    Company Offices

    Frontier Mining Ltd

    601 Nurly Tau Business Centre

    Block 4B,

    17 Al Farabi Ave

    Almaty 050010,


    T +7 7273 11 03 50

    Corporate Information

    Nominated Advisor

    Libertas Partners

    17c Curzon Street


    W1J 5HU

    United Kingdom

    Tel: +44 (0)20 7569 9650

    Fax: +44 (0)20 3318 2977



    Investor Relations

    Walbrook PR

    4 Lombard Street

    London EC3V 9HD

    United Kingdom

    T +44 (0)20 7933 8780

    F +44 (0)20 7933 8781



    RFC Ambrian Limited

    Level 5, 10 St Paul's Churchyard

    London EC4M 8AL

    United Kingdom

    T + 44 (0)20 3440 6800

    F + 44 (0)20 3440 6801



    Auditors & Reporting Accountants

    Deloitte LLP

    Almaty Financial District

    Building B, 36 Al Farabi Avenue

    Almaty 050000


    Tel: +7 (727) 258 13 40

    Fax: +7 (727) 258 13 41



    Solicitors to the Company

    Baker & McKenzie - CIS, 


    Sadovaya Plaza, 12th Floor

    7 Dolgorukovskaya Street

    Moscow 127006


    Tel: + 7 495 787 2700

    Fax: + 7 495 787 2701




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    Hilgrove Street

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    Tel: +44 (0)870 707 4040

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