KfW IPEX-Bank Provides USD 100 Million to Finance Belgian Exports for Solidcore’s Kazakhstan Gold Project

KfW IPEX-Bank Provides USD 100 Million to Finance Belgian Exports for Solidcore’s Kazakhstan Gold Project

(IN BRIEF) KfW IPEX-Bank is providing USD 100 million to finance Belgian exports for Solidcore Resources’ Ertis POX pressure oxidation plant in Kazakhstan’s Pavlodar Special Economic Zone. Belgian engineering company Coek Engineering will supply a roughly 50-metre-long pressure oxidation autoclave, which will be the largest of its kind in Kazakhstan and a key component of a plant designed for annual production capacity of around 500 kilo ounces of gold in doré bars. In addition to KfW IPEX-Bank’s financing, the EBRD and an international banking syndicate are providing USD 600 million in backing for the project. KfW IPEX-Bank said the transaction supports European exports and strengthens the competitiveness of European industry in global markets.

(PRESS RELEASE) FRANKFURT, 2-Sep-2026 — /EuropaWire/ — KfW IPEX-Bank is providing USD 100 million in financing to support Belgian exports to Solidcore Resources plc for the construction of the new Ertis POX pressure oxidation plant in Kazakhstan.

The project, located in the Pavlodar Special Economic Zone, will support Solidcore’s gold production activities while generating export business for Belgian process equipment engineering company Coek Engineering.

KfW IPEX-Bank said the transaction underlines its role in supporting European exporters and strengthening the competitiveness of European industry in international markets.

In addition to KfW IPEX-Bank’s USD 100 million loan, the project is being backed with USD 600 million from the European Bank for Reconstruction and Development (EBRD) and an international banking syndicate.

Coek Engineering supplies major pressure oxidation autoclave

A central component of the new Ertis POX plant is a pressure oxidation autoclave manufactured by Coek Engineering.

Approximately 50 metres long, the autoclave will be the largest of its kind in Kazakhstan.

The equipment forms one of the principal components of the Ertis POX facility, which is designed to provide annual production capacity of approximately 500 kilo ounces (koz) of gold in doré bars.

Coek Engineering specialises in process equipment engineering and is supplying the autoclave from Belgium as part of the project.

Financing supports European export industry

Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank, said the financing supports European exports while helping strengthen the international competitive position of European industry.

The transaction combines export financing with investment in large-scale mineral processing infrastructure in Kazakhstan, where Solidcore Resources is a leading gold producer.

By financing equipment supplied by a European engineering company, KfW IPEX-Bank is supporting industrial value creation in Europe while enabling the development of new processing capacity in Kazakhstan.

Media Contact:

Antje Schlagenhaufer
KfW IPEX-Bank Press Office
+49 69 7431-4009
antje.schlagenhaufer@kfw.de

SOURCE: KfW