Getech Group plc announced that it has entered into a joint venture agreement with East Star Resources plc, to pursue copper exploration in Kazakhstan. The joint venture will be conducted through a subsidiary established specifically for this purpose (the "JV Company"). Utilising its proprietary data, enhanced by in-house Artificial Intelligence (AI) capabilities, Getech will conduct a mineral systems analysis and structural interpretation for sedimentary-hosted copper to pinpoint prospective areas in mineral rich, yet underexplored basins in Kazakhstan.

East Star will lead the application process for the tenements /licenses and spearhead operational activities. In return for its services, Getech will have a call option to obtain shares at nil cost in the JV Company, equivalent to 5% of its issued capital, once exploration licenses are secured within the project areas. Getech's 5% share is protected against dilution until a decision to mine has been made at one or more of the mining licenses.

The transaction is the first example of Getech implementing its equity participation strategy. The new agreement demonstrates a change from generating fee income from subsurface searches to asset participation with the potential to generate substantially more value from its unique data. Copper is crucial for the energy transition as it is a key component in renewable energy systems, including wind turbines, solar panels and electric vehicles.

Its superior conductivity and durability make it indispensable in efficiently transmitting and storing renewable energy. The forecasted significant shortfall in copper supply starting from 2027 underscores the critical importance of copper exploration.