SandCo Sets New Quartz Sand Production Record with 15,000 Tons in 2024, Eyes Further Expansion into China Market and Critical Minerals
LONDON and ASTANA, Kazakhstan, June 05, 2025 (GLOBE NEWSWIRE) -- SandCo, Central Asia's top-tier supplier of premium quartz sand, reported an unprecedented production total of 15,000 tons for 2024 due to an initial $10 million investment in extended production facilities.
SandCo operates a fully integrated quartz sand production cycle, including mining, refining, and distribution.
It outputs silica with over 98% purity, and the company is working to increase its purity through constant investment in R&D.
Quartz sand is used in semiconductor fabrication, high-rise construction, and advanced filtration technologies for oil and gas applications.
"Our record production in 2024 is just a first step in our rehaul. We are working to accelerate our international commercial and logistic capabilities," said CEO Sanzhar Zhumanalin.
"Our goal for 2025 is to push production levels up to 25,000 tons and start expansion into China and the Middle East, where top-class quartz sand is becoming an edge in important industries linked to the digital economy," he stated.
During 2024, SandCo supplied quartz sand for projects such as Tengizchevroil's hydraulic fracturing operations, the Kazakhstan Football Federation's development of 20 youth football fields, and municipal water filtration projects in different locations in Central Asia.
Global market demand for premium quartz sand has risen in recent years, driven by robust growth in semiconductor manufacturing.
The industrial quartz sand market is projected to grow at a yearly rate of 5.5% from 2026 to 2033, while the frac sand market, essential for extracting oil and gas, is expected to expand by USD 4.50 billion between 2024 and 2028, according to industry sources.
Last year, the company developed a new rail spur to connect its Kariernoe quartz deposit to international trade routes, and specifically with China and Caspian Sea ports. The company considers that the One Belt One road initiative between China and Europe will make Kariernoe an important element in future international trade routes.
Founded in 1999, SandCo is part of Kazakhstan's Namys Group.
Over its 25-year operational history, SandCo has grown in infrastructure development and R&D investment. Current production facilities include Hitachi and Volvo technologies, with whom SandCo maintains long standing working relations.
The company is committed to ensuring premium purity and exact particle dimensions ranging from 0.1 mm to 15 mm, which is in line with international industry standards.
For the 2025-2030 period, SandCo plans to enhance its cleantech position, invest in integrating renewable energy, including solar power, and reduce its carbon footprint.
Further planned investments include the adoption of automated packaging and digital quality-control systems.
Additionally, SandCo is advancing recycling initiatives for spent proppants, specialized quartz sands utilized extensively in oil and gas extraction processes—to promote sustainability and support circular economy practices.
The company's plans include becoming a major partner of critical materials production in the next 24 months.
SandCo employs more than 200 specialists with long-term licenses.
For more information:
media@definition.city
https://sandco.kz/en/
DISCLAIMERThis press release contains statements regarding the future of the company and its innovations. Statements regarding the future may be accompanied by words such as "anticipate", "believe", "estimate", "wait", "pretend", "power", "plan", "potential", the use of future time and other terms of similar meaning. No undue reliance should be placed on these claims. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of the company's commercial success, ability to protect our intellectual property rights, and other risks. These statements are based on current beliefs and forecasts and refer only to the date of this press release. The company assumes no obligation to publicly update its forward-looking statements, regardless of whether new information, future events or any other circumstance arise. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or in any other jurisdiction where such offer or sale would be unlawful.
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To learn more, please visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding: Lyell's initiation by early 2026 of a pivotal trial for LYL314 for patients with LBCL in the 2L setting; expectations around the potential for CD19/CD20 CAR T-cell therapies to disrupt the therapeutic landscape; the anticipated benefits of RMAT and Fast Track designations for LYL314; Lyell's expectations around the progress of the PiNACLE trial, including expectations around enrollment and timing of progress update in late 2025, and using data from the trial to form the basis of a Biologics License Application submission to the FDA in 2027 for patients with relapsed and/or refractory LBCL receiving treatment in the 3L+ setting; Lyell's expectations around continued enrollment for and timing of more mature clinical data from its ongoing Phase 1/2 trial for LYL314 in the 2L setting in late 2025; the advancement of Lyell's technology platform; Lyell's advancement of its pipeline and its research, development and clinical capabilities; Lyell's submission of an IND in 2026 for a CAR T-cell product candidate with an undisclosed target for solid tumors; Lyell's plans for using the net proceeds from the private placement and its existing cash, cash equivalents and marketable securities, and its expectation that its financial position and cash runway will support advancement of its pipeline into mid-2027 through key clinical milestones; the sufficiency of the capacity of LyFE to manufacture drug supply for Lyell's ongoing and planned pivotal trials and through potential commercial launch; Lyell's anticipated progress, business plans, business strategy and clinical trials; the potential clinical benefits and therapeutic potential of Lyell's product candidates, including meaningful increased complete response rates and prolonged duration of response; and other statements that are not historical fact. These statements are based on Lyell's current plans, objectives, estimates, expectations and intentions, are not guarantees of future performance and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, but are not limited to, risks and uncertainties related to: Lyell's ability to submit planned INDs or initiate or progress clinical trials on the anticipated timelines, if at all; Lyell's limited experience as a company in enrolling and conducting clinical trials, and lack of experience in completing clinical trials; the complexity of manufacturing cellular therapies, which subjects us to a multitude of manufacturing risks, any of which could substantially increase our costs, delay our programs or limit supply of our product candidates; the nonclinical profiles of Lyell's product candidates or technology not translating in clinical trials; the potential for results from clinical trials to differ from nonclinical, early clinical, preliminary or expected results; significant adverse events, toxicities or other undesirable side effects associated with Lyell's product candidates; the significant uncertainty associated with Lyell's product candidates ever receiving any regulatory approvals; RMAT and Fast Track designations may not actually lead to faster development, regulatory review or approval process, and does not assure ultimate FDA approval; Lyell's ability to obtain, maintain or protect intellectual property rights related to its product candidates; implementation of Lyell's strategic plans for its business and product candidates; the sufficiency of Lyell's capital resources and need for additional capital to achieve its goals; the effects of macroeconomic conditions, including the effects of disruption between the U.S. and its trading partners due to tariffs or other policies, and any geopolitical instability; potential changes to U.S. drug pricing, including the potential for 'most-favored nations' pricing limitations; and other risks, including those described under the heading 'Risk Factors' in Lyell's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, being filed with the SEC today. Forward-looking statements contained in this press release are made as of this date, and Lyell undertakes no duty to update such information except as required under applicable law. Lyell Immunopharma, Inc. Unaudited Selected Consolidated Financial Data (in thousands) Statement of Operations Data: Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue $ 8 $ 13 $ 15 $ 16 Operating expenses: Research and development(1) 34,857 40,261 78,304 83,435 General and administrative 9,786 12,256 23,832 25,750 Other operating loss (income), net 1,062 (976 ) 943 (2,066 ) Impairment of long-lived assets 1,443 — 1,443 — Total operating expenses 47,148 51,541 104,522 107,119 Loss from operations (47,140 ) (51,528 ) (104,507 ) (107,103 ) Interest income, net 3,276 6,364 7,138 13,183 Other income (expense), net(1) 1,180 (645 ) 2,490 445 Impairment of other investments — — — (13,001 ) Total other income, net 4,456 5,719 9,628 627 Net loss $ (42,684 ) $ (45,809 ) $ (94,879 ) $ (106,476 ) (1) As of October 1, 2024, the Company's success payment liability was recognized at fair value as Stanford had provided the requisite service obligation to earn the potential success payment consideration. The change in the estimated fair value of Stanford success payment liabilities in the first half of 2025 was recognized within other income (expense), net in the Condensed Consolidated Statements of Operations and Comprehensive Loss. The change in the estimated fair value of Stanford success payment liabilities in the first half of 2024 was recognized within research and development expenses in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Balance Sheet Data: As of June 30, As of December 31, 2025 2024 Cash, cash equivalents and marketable securities $ 296,849 $ 383,541 Property and equipment, net $ 39,115 $ 48,200 Total assets $ 385,453 $ 490,859 Total stockholders' equity $ 298,923 $ 382,824 Non-GAAP Financial Measures To supplement our financial results and guidance presented in accordance with U.S. generally accepted accounting principles (GAAP), we present non-GAAP net loss, non-GAAP R&D expenses and non-GAAP G&A expenses. 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Unaudited Reconciliation of GAAP to Non-GAAP Research and Development Expenses (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Research and development - GAAP $ 34,857 $ 40,261 $ 78,304 $ 83,435 Adjustments: Stock-based compensation expense (2,295 ) (3,865 ) (4,683 ) (7,657 ) Change in the estimated fair value of success payment liabilities(1) — 793 — 268 Research and development - Non-GAAP $ 32,562 $ 37,189 $ 73,621 $ 76,046 (1) As of October 1, 2024, the Company's success payment liability was recognized at fair value as Stanford had provided the requisite service obligation to earn the potential success payment consideration. The change in the estimated fair value of Stanford success payment liabilities in the first half of 2025 was recognized within other income (expense), net in the Condensed Consolidated Statements of Operations and Comprehensive Loss. The change in the estimated fair value of Stanford success payment liabilities in the first half of 2024 was recognized within research and development expenses in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Lyell Immunopharma, Inc. Unaudited Reconciliation of GAAP to Non-GAAP General and Administrative Expenses (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 General and administrative - GAAP $ 9,786 $ 12,256 $ 23,832 $ 25,750 Adjustments: Stock-based compensation expense (2,709 ) (4,419 ) (6,345 ) (9,782 ) General and administrative - Non-GAAP $ 7,077 $ 7,837 $ 17,487 $ 15,968 Contact: Ellen Rose Senior Vice President, Communications and Investor Relations erose@
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