A Memorandum of Understanding between Kusto Group and Dundee Sustainable Technologies is expected to be the first step in the development of a joint venture between the two companies.
Kusto Group, a privately held, multi-sector industrial holding company based in Singapore under the leadership of Chairman Yerkin Tatishev, recently signed a Memorandum of Understanding with Dundee Sustainable Technologies Inc, a Canada-based company engaged in developing technologies that can effectively and efficiently treat materials in the mining industry, to seek out and develop projects that apply DST’s technologies to mining operations in Kazakhstan, Uzbekistan and Kyrgyzstan.
This partnership announcement was made on the 16th of September 2019. DST’s specialty is in testing oxide and sulfide materials for the extraction of nickel, cobalt, copper, zinc, gold and silver. The company has developed innovative metallurgical processes on the basis of chlorination technology.
The MOU between DST and Kusto Group will allow the organizations to examine a joint venture in developing opportunities in the Central Asian countries of Kazakhstan, Uzbekistan and Kyrgyzstan. Kusto Group is interested in the direct application of DST’s Glasslock and CLEVER Process in current and future mining operations across the region. This agreement marks the first steps in establishing a joint venture between Kusto and DST. The aim of this collaboration is to enhance economic and sustainable growth in the regional mining industry.
Kusto and DST to further explore potential partnership
The companies will conduct a survey of possible projects that will include a processing, operating, and economic evaluation that will enable Kusto to ascertain how they can best apply DST’s two groundbreaking technologies.
With respect to the agreement, Daniel Kunin, a managing director of Kusto Group, stated, “We are excited to begin a partnership with Dundee Sustainable Technologies. DST has created a world-class suite of technologies that bring great value to the mining sector and the environment. We look forward to working closely with the excellent team from DST”.
According to Mr. Brian Howlett, President and CEO of DST, “Management of DST completed a ten-day visit to Kazakhstan earlier this year and met with numerous potential customers in conjunction with Kusto. DST is pleased to partner with Kusto, a well-respected multi-disciplinary company in the region. Kazakhstan is an incredible market for DST’s Technologies with numerous mining projects operating and also under development.”
Kusto’s agreement with DST signifies their continued efforts to develop partnerships with industry-leading firms to introduce new technology and best practices to emerging economies. While the partnership is tailored at expanding Kusto Group and its business, learning from its partners and adopting their best practices and introducing them to new markets, Kusto’s collaboration with DST works both ways. This partnership has the potential to expand the reach of DST’s technologies in the industry, making them a champion in the sector.
This effort of continuously looking to partner with exceptional businesses in the markets of the world is paired with a clear understanding of the importance of harnessing and encouraging local expertise as well.
Generating success for all stakeholders
Kusto Group is a multi-disciplinary organization that currently operates in agri-business, oil and gas, construction materials and paint, and real estate. Amassing an incredible annual turnover of $1.0 billion in 2018, the company continues to pursue success through expansion and acquisition. Kusto employs more than 8,000 people across its global operations.
Kusto Group and its leadership have experience working in the mining sector of Kazakhstan and understand the potential for economic growth in the regional industry. The origins of Kusto Group can be traced to a mining town whose operations were almost bankrupt. Here, a group of young, ambitious entrepreneurs led by Tatishev introduced new technology and methodologies that led to the revival of the mine and the local economy.
The group has shifted its focus to not only increasing production capabilities but also introducing sustainable development in countries and sectors where they operate.
Daniel Kunin explained Kusto Group’s unique approach aiming to add value to local economies through its business partnerships and operations. “Thinking about how a project affects local stakeholders such as a town or community is very important. At Kusto, there is a deep sense of ethical responsibility to all stakeholders that goes beyond the usual slogans. In our partnerships, the operating principle is to treat a partner as if they were a team-member of Kusto.”
Kusto Group’s continued growth
No doubt, the substantial expansion experienced by Kusto Group has not been free of growing pains, but its leaders, championed by Yerkin, have been able to transform these challenges into opportunities. The company’s experienced management team has applied the numerous lessons they learned over the years to elevate the company to new heights.
Buoyed by the strengths of the organization and its employees, Kusto Group has become an award-winning leader, recognized for implementing innovative technologies across multiple industries. As an entrepreneurial organization, Kusto has drawn international attention and won regional acclaim.
Kusto Group and its founders have experience working in very complex and challenging environments. But with unity in purpose and clearly defined goals, the company has been able to create sustainable and successful enterprises for all stakeholders – within the region and beyond.