Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Kazakhstan

Geographic location where the impacts of the investment may be experienced.

Specific Location

Pavlodar region

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Jun 17, 2026

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Ertis Hydrometallurgical Plant LLP

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Construction
Hydropower
Infrastructure

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 300.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2026-06-17 exchange rate.

Project Cost (USD)

$ 978.00 million

Bank Documents

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 2, 2026

Disclosed by Bank Apr 17, 2026

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of the provision of a senior corporate loan of up to US$ 300 million in favour of Ertis Hydrometallurgical Plant LLP and Solidcore Resources PLC for construction and commissioning of Kazakhstan's first large-scale, full-cycle pressure oxidation (POX) processing facility in the Pavlodar region, Kazakhstan.

The proceeds from the loan will be used to finance capex for the construction and commissioning of a pressure oxidation gold processing plant with a design capacity of up to 278.5 ktpa of concentrate to be located in the Pavlodar region.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised A (ESP 2024) The Bank's Environmental and Social Due Diligence (ESDD) for the Project is being conducted with the support of an independent consultant and included a site visit and review of the Environmental and Social Impact Assessment (ESIA) disclosure package.

The ESIA disclosure package consists of an ESIA, Environmental and Social Management Plan (ESMP), Stakeholder Engagement Plan (SEP), Non-Technical Summary (NTS), an Environmental and Social Action Plan (ESAP) and ESIA Appendices. The disclosure package was disclosed on 17th April 2026 on the Solidcore Resources' website and on EBRD's website.

Public consultation meetings for the ESIA are scheduled for May 2026.

The Hydrometallurgical (Pressure Oxidation) Plant (POX Plant) will be located on an approximately 228-hectare site in the industrial area to the north of Pavlodar and includes concentrate preparation, a pressurised autoclave, leaching circuits, workshops, utilities and administration and other auxiliary buildings. A sludge storage facility for process waste materials is also located in the industrial zone and occupies approximately 164 hectare and is designed as an engineered, lined disposal facility for final process residues, with a return-water system and a dedicated pipeline corridor connecting the POX Plant and sludge storage facility.

The overall Project footprint is approximately 441 hectares, and the planned operating life is 30 years.

There will be no physical resettlement or economic displacement, nor are there informal users of the land.

No Critical Habitat have been identified in the Project area of influence and biodiversity risks will be managed through compensatory vegetation planting to improve habitats and the Project's Biodiversity Management Plan. Impacts to cultural heritage or other sensitive receptors have not been identified.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

A senior corporate loan of up to US$ 300 million.
The total estimated project cost amounts to US$ 978 million (excl. VAT).

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Ertis Hydrometallurgical Plant LLP is a 100 per cent subsidiary of Solidcore Resources PLC incorporated in Kazakhstan to implement and manage the project.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Ertis Hydrometallurgical Plant LLP	Client	-
-	-	-	-	Solidcore Resources PLC	Parent Company	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Arman Beisembinov
egmk@solidcore-resources.kz
+7 (7182) 37-25-52
www.solidcore-resources.com/en/
16, Lugovaya street, Pavlodar, Pavlodar region, 140001, Republic of Kazakhstan

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html