Press release from 11 July 2023

HMS Bergbau AG acquires majority shareholdings in Kazakhstan in state visit of German President Steinmeier to the Republic of Kazakhstan

• HMS Bergbau AG signs contracts in the presence of the presidents of Kazakhstan and Germany
• HMS Bergbau acquires two majority stakes with mining and exploration licenses for lithium, tantalum and rare earths, among others
• Long-term partnership of both countries in the raw materials, industrial and technology sectors
• HMS Bergbau AG intensifies transformation into raw materials trader

Berlin, 11 July 2023: HMS Bergbau AG, one of the leading independent raw materials trading and marketing companies in Germany, announces the acquisition of two majority shareholdings in Kazakh companies with mining and exploration licenses for lithium, cobalt, nickel, tantalum and rare earths in the Alatau region of Kazakhstan during the state visit of German President Frank-Walter Steinmeier to the Republic of Kazakhstan in late June 2023.

HMS Bergbau AG had previously acquired a majority stake in a Kazakh company in 2022 that holds exploration licenses also on adjacent documented deposits for lithium, cobalt and nickel. The new majority shareholdings significantly strengthen HMS Bergbau AG’s position in Kazakhstan.

The investment of HMS Bergbau AG builds on a raw materials partnership between the Federal Republic of Germany and the Republic of Kazakhstan, which was officially concluded in 2012. The agreement provides for deepening economic and political relations through partnerships in the raw materials, industrial and technology sectors. At the same time, the activities are intended to contribute to the diversification and modernization of the German and Kazakh economies. This raw materials partnership is meant to promote a secure supply of raw materials, cooperation in the industrial and technology sectors, and sustainable economic and social development in both countries.

During his trip, which lasted several days and included a visit to the Kazakh capital of Astana, the German President held talks with President Qassym Shomart Tokayev and specially highlighted the 30th anniversary of the establishment of diplomatic relations between Germany and Kazakhstan. President Steinmeier paid tribute by saying, “Kazakhstan is a key partner for the Federal Republic in the Central Asian region, politically, culturally and economically”. Both sides will seek to expand their good relations in the years to come. A high-ranking business delegation had also traveled to Kazakhstan with German President Frank-Walter Steinmeier to conclude various economic agreements.

“With our activities, we are reviving the raw materials partnership between the Federal Republic of Germany and the Republic of Kazakhstan, which was officially concluded in 2012. Thanks to our flexible structures, we are once again the first German company to secure mining licenses for raw materials such as lithium, tantalum and rare earths in Kazakhstan. We hope to be able to seize the considerable earnings potential in the years ahead. We also see the new majority shareholdings in Kazakhstan as another milestone in the transformation process of HMS Bergbau AG, which is transforming into an internationally positioned raw materials trading and marketing group,” says Dennis Schwindt, CEO of HMS Bergbau AG

About HMS Bergbau AG:

HMS Bergbau AG, Berlin, is one of the leading independent raw materials trading and marketing companies in Germany. Its core business is the international purchase and sale of raw materials such as coal products, cement, ores and fertilizers. Its customers include well-known international industrial consumers, energy traders and producers, to whom the raw materials are delivered in time worldwide. Primarily operating in Asia, Africa and Europe, HMS Bergbau AG, also develops first-class raw material reserves.

In addition, the Company provides customers solutions to complex transport issues. Founded in 1995, HMS Bergbau AG is listed on the Basic Board of the Frankfurt Stock Exchange.