What Fincraft Resources does

Fincraft Resources JSC is a Kazakhstan-based industrial holding company listed on the Kazakhstan Stock Exchange (KASE) under ticker SATC.KZ. The company was founded in 2001 as SAT & Company in petroleum products trading, pivoted to metallurgy and mining from 2007 onward, was renamed Fincraft Resources in 2018, and operates as part of the broader Fincraft Group controlled by majority shareholder Kenges Rakishev (92.685% of shares, 96.896% of voting shares as of mid-2018). The group's stated strategic aim is to enter the top 30 largest industrial holdings of the CIS by market capitalization (Fincraft Resources JSC website; OSCE / KASE disclosures).

The operating business is concentrated in three core subsidiaries. TOO KAZNICKEL, controlled via Battery Metals Technologies (BMT), is developing the Gornostayevskoye cobalt-nickel deposit in East Kazakhstan using a novel Drillhole In-Situ Leaching (ISL) method — described as the first such application globally for nickel-cobalt extraction from laterite ores, requiring CSA Global (Australia) PFS/FS work to validate commercial viability. Mineral resources within the license area are estimated at 106.5 million tons of ore, 627.6 thousand tons of nickel, and 42.23 thousand tons of cobalt, supporting a 30+ year resource life. The subsidiary is currently in pilot phase and pre-commercial.

TOO InderGips (renamed in April 2022 from Aktau Bitumen LLP) operates a 120,000-ton-per-year gypsum and dry construction mixtures plant in Atyrau Oblast, selling plaster, putty, joint compound, self-leveling floor and perlite products under the InderMix brand to wholesale and retail customers in Kazakhstan and export markets. In 2021 the plant produced 67,000 tons (+46% YoY) with revenue growth of 47% YoY, with a planned 80% production increase in 2022. The group also retains a minority stake in Petropavlovsk PLC consolidated via Fincraft Holdings LTD.

Fincraft Resources generates revenue principally through hardware sales of gypsum and dry construction mixtures (active, growing) and is positioning for future hardware sales of nickel and cobalt concentrates via offtake agreements with international battery metals consumers for the EV supply chain. Its customer base currently sits in the construction-materials vertical (SMB and mid-market wholesale/retail) and is being developed in the EV battery metals vertical (enterprise, pre-commercial). The company reached a zero-debt position with second-tier banks by December 2021 after fully redeeming two KASE-listed bond issues totaling approximately KZT 14.3 billion, and distributes a nominal KZT 1 per preferred share annual dividend.

Name

Fincraft Resources

Legal name

AO Fincraft Resources

Website

https://fincraftresources.kz

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

101–250 employees

Short description

Fincraft Resources is a Kazakhstan-listed industrial holding (KASE: SATC.KZ) operating through subsidiaries in cobalt-nickel mining using novel drillhole ISL technology and gypsum production, serving construction-materials customers domestically and export markets while targeting international EV battery manufacturers for future commercial nickel-cobalt offtake.

Ownership category

akta.pro rank

Product category

Industrial Mining and Construction Materials

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090), Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)

akta.pro primary industry

Drilling & Rock Excavation Equipment (Rotary/Top-Hammer, Jumbos, Raiseborers) (IMAKANAC)

akta.pro secondary industry

Tailings & Water Management Engineering (TSF Design/Construction, Dams, Water Treatment) (IMAKAOAF)

Keywords

• Industrial mining holding
• Gypsum construction materials
• Nickel cobalt extraction
• Battery metals production
• Dry construction mixtures

Headquarters

HQ city

Almaty

HQ country

Kazakhstan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Nickel and Cobalt Mining (Battery Metals): KAZNICKEL LLP develops the Gornostayevskoye cobalt-nickel deposit using ISL technology. Metals used in EV battery production. In pilot production phase (~3,500 kg nickel concentrate in H1 2021). Targeting commercial production with offtake agreements from international battery manufacturers.
2. Gypsum and Dry Construction Mixtures: InderGyps LLP produces gypsum plaster, putty, joint compound, self-leveling floor, and perlite-containing products. Capacity 120,000 tons/year. Revenue grew 47% YoY in 2021. Products sold domestically in Kazakhstan and exported under InderMix brand.
3. Ferrosilicon Manganese: Historical production of ferrosilicon manganese through subsidiary operations.
4. Dividend Income from Securities: Annual dividend payments on preferred shares (ISIN: KZ1P00000566). Paid once per year, not later than July 31. Amount per preferred share: KZT 1.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Fincraft Resources is a Kazakh industrial holding that produces and sells gypsum and dry construction mixtures (plaster, putty, joint compound, self-leveling floor, perlite products) under the InderMix brand through its InderGyps plant (120,000 tons/year capacity), and develops nickel and cobalt extraction at the Gornostayevskoye deposit through its KAZNICKEL subsidiary using proprietary drillhole in-situ leaching technology for the EV battery supply chain.

Product overview

Fincraft Resources is a dynamically developing Kazakh industrial holding focused on mining and metallurgy. The company operates through several subsidiaries: KAZNICKEL LLP for cobalt-nickel extraction using innovative drillhole in-situ leaching technology at the Gornostayevskoye field, InderGyps LLP (InderMix brand) for gypsum and dry construction mixtures production, and Battery Metals Technologies for battery-relevant metals. The company was established in 2001 as SAT & Company and renamed to Fincraft Resources in 2018. Its shares trade on KASE under ticker SATC.KZ.

Differentiator

Problem solved

Functional benefit

Brands

• InderMix: Trade mark for gypsum products (plaster, putty, joint compound) produced by TOO InderGips.
• KAZNICKEL

Products and services

• InderMix Gypsum and Dry Construction Mixtures
• KAZNICKEL Nickel and Cobalt Concentrate

Quantifiable outcome

• 46% production volume increase at InderGyps in 2021 vs 2020; 67,000 tons gypsum products produced; 47% revenue increase YoY.
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• CSA Global (Australia)coreStrategic or Co-development Partner · 29 November 2021KAZNICKEL LLP contracted CSA Global, an international mining consulting company, to conduct Pre-Feasibility Study (PFS) and Feasibility Study (FS) for the Gornostayevskoye cobalt-nickel deposit development using drillhole ISL technology. The studies are conducted in three phases: detailed program of primary studies, mineral resource update per JORC and KAZRC codes, and PFS/FS report preparation. Work expected to be completed by end of 2022. In 2020, CSA Global had already completed a Scoping Study confirming ISL viability.
• Union of Project Managers of the Republic of KazakhstanminorImplementation/ SI/ Consulting Partner · 16 November 202135-hour PMI PMBOK Guide-standard project management training delivered at Fincraft Resources and Battery Metals Technologies offices for employees. Training covered project scope, schedule, cost, quality, risk, integration, manpower, procurement, communications and stakeholder management. Union of Project Managers promotes project management practices in Kazakhstan based on PMI standards since 2003.
• Battery Metals Technologies (BMT)coreStrategic or Co-development Partner · 11 October 2021Battery Metals Technologies is a subsidiary controlled by Fincraft Resources JSC. It owns KAZNICKEL LLP and implements the cobalt-nickel battery metals project including the Gornostayevskoye deposit development. BMT serves as the metallurgical 'battery' division of Fincraft Resources and flagship for 'green' technology deployment. Supervisory Board of KAZNICKEL includes representatives from BMT (CEO Erlan Idrisov) and Fincraft Resources.

Scale indicators8 records

Recent moves9 records

Expansion highlights8 records

Direct peers

• Sherritt International: Canadian mining company focused on nickel and cobalt production from laterite ores (Moa JV in Cuba), with operations also in Cuba and Madagascar. Directly comparable as a primary nickel-cobalt producer serving the EV battery supply chain.
• Eramet: French mining and metallurgical group with major nickel operations from laterite ores in New Caledonia and Indonesia, plus cobalt and manganese production. Directly comparable to Fincraft Resources as a laterite-focused nickel-cobalt producer targeting battery materials customers.
• Knauf: German-headquartered privately-held global leader in gypsum-based building materials including plaster, drywall, and construction systems. Directly comparable to Fincraft's InderGyps (InderMix brand) gypsum and dry construction mixtures business.
• IGO Limited: Australian mining company producing nickel, copper, and cobalt with a strategic focus on battery materials for the EV market. Directly comparable in nickel-cobalt focus and battery-materials end-market targeting to Fincraft's KAZNICKEL business.

Broad incumbents

• Nornickel (Norilsk Nickel): World's largest producer of refined nickel and a major cobalt producer, with primary operations in Russia. Broadly comparable as a major integrated nickel-cobalt producer, though much larger and operating sulfide rather than laterite ores.
• Saint-Gobain: French multinational building materials group with extensive gypsum, plaster, and construction solutions operations across Europe, Americas, and Asia. Broadly comparable to InderGyps as a major gypsum-based construction materials producer serving global construction markets.
• BHP Group: Global diversified mining major with nickel operations (Nickel West in Western Australia, exiting certain coal/Nickel assets in 2024). Broadly comparable in nickel production for battery and stainless steel end-markets, though much larger and more diversified.
• Glencore: Global diversified mining and trading giant with significant nickel (including Integrated Nickel Operations in Canada) and cobalt production. Broadly comparable as a major nickel-cobalt producer and commodity trader serving battery and stainless steel markets.
• Vale SA: Brazilian diversified miner and one of the world's largest nickel producers, with laterite nickel operations in Canada, Indonesia, and Brazil. Broadly comparable as a major nickel producer for stainless steel and EV battery markets.

Emerging players

• Tsingshan Holding Group: Chinese privately-held stainless steel and nickel producer that has rapidly scaled nickel pig iron production from laterite ores in Indonesia. Comparable in laterite nickel extraction focus and aggressive scale-up strategy to Fincraft's KAZNICKEL ambitions.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/inder_mix.kz
• Facebookfacebook.com/108152177565832

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fincraft Resources