Chinese company buys Kazakh share in Altynken company
Azerbaijan, Baku, Nov.16 /Trend E. Kosolapova/
Chinese Superb Pacific Limited bought a 60-percent share of the Kazakh Summer Gold LLC in Altynken - company exploiting major gold mine "Taldy Bulak Left-bank" in Kyrgyzstan, KyrTAG reports with reference to Kyrgyzaltyn.
Superb Pacific signed an agreement with Summer Gold on Aug.15, 2011 to purchase a 60-percent share worth $ 66 million in Altynken.
Superb Pacific is a company affiliated to Zijin Mining, registered on the British Virgin Islands. Summer Gold is a Kazakh LLP.
Summer Gold Ltd owns 60 percent equity in Altynken.
The remaining 40 percent is owned by the Kyrgyz JSC Kyrgyzaltyn, specializing in the development of gold deposits.
According to a new license for exploitation dated April 4, 2011 - until Jan. 5, 2026, Taldy Bulak Left-Bank's reserves are estimated at 64.4 tons of gold.