Sarytogan Graphite has secured a €3 million investment from the European Bank for Reconstruction and Development (EBRD) by issuing new shares at 16 cents each, aimed at advancing its graphite project in Kazakhstan’s Karaganda region. This investment values Sarytogan Graphite at approximately €16.8 million, based on the 17.36 percent stake acquired by the EBRD. This marks the bank’s first direct equity investment in the graphite and critical raw materials sector in Central Asia.
This funding will support the development of the Sarytogan graphite deposit, one of the largest known graphite deposits globally. The investment will be used to finance the preparation of a feasibility study and meet the company’s working capital needs. The Sarytogan graphite project aligns with the EBRD’s mining sector strategy, which supports the exploration and development of metals and minerals essential for green and digital transitions.
The investment also ties into the EU-Kazakhstan strategic partnership on raw materials, batteries, and renewable hydrogen. The EBRD’s involvement follows its policy work with Kazakh authorities, contributing to the adoption of the new Subsoil Use Law. This investment is part of the EBRD’s broader efforts in Kazakhstan, where it has invested €10.2 billion in 324 projects to date, with a focus on private sector growth.
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