Baku, Azerbaijan, Mar. 9
By Ali Mustafayev – Trend:
The board of directors of the AK Altynalmas company decided to buy 100 percent of the stake in the authorized capital of the Aktogay Mys mining company, Kazakh Stock Exchange said in a message.
AK Altynalmas JSC is one of the largest gold producers in Kazakhstan and carries out subsurface operations on a number of gold mining facilities in the country.
The total amount of the transaction amounts to $33.5 million. Sellers of Aktogay Mys shares are PMTL Holding Ltd (50 percent) and Dolphinflip Co Limited (50 percent).
PMTL Holding Ltd is a subsidiary of Polymetal International. In June 2015, the company bought 25 percent of Aktogay Mys LLP, which holds a license for exploration at the “Dolinnoe” field in Kazakhstan, including related shareholder loans.
The total reserves of “Dolynoe” field amount to 404,000 ounces of gold (12.56 tons).