Kazakhstan’s gold producer increases its share in KAZAKHALTYN Concern

Business Materials 3 December 2020 11:10 (UTC +04:00)
Kazakhstan’s gold producer increases its share in KAZAKHALTYN Concern

BAKU, Azerbaijan, Dec. 3

By Nargiz Sadikhova - Trend:

Kazakhstan’s Altynalmas AK JSC has acquired shares of KAZAKHALTYN Mining and Metallurgical Concern, Trend reports citing the company’s statement published by Kazakhstan Stock Exchange.

The statement said that the company purchased the shares in the volume of 92.18 percent of total shares volume.

Last year, AK Altynalmas JSC became the owner of 54.2417 percent of the KAZAKHALTYN Mining-Metallurgical Concern JSC shares.

Also last year, VTB international financial group granted a funding loan worth 470 million euros to the group of companies of gold-mining sector of Kazakhstan. The funding was to be intended to purchase by AK Altynalmas JSC of controlling interest in KAZAKHALTYN, realization of Aksu project of capacity of five million tons of ore a year and optimization of debt portfolio of the company.

AK Altynalmas JSC performs operations on subsoil use in a variety of gold ore objects. These objects are deposits of Akbakai region in Zhambyl area and Pustynnoye deposit and Karyernyi site in Karaganda area.

Recently this year the company also reported on plans to extract up to 2.5 million tons of gold ore on the Dolinnoye field in country’s Karaganda region starting from 2020.

KAZAKHALTYN Mining-Metallurgical Concern JSC deals with exploration and prospecting work, extraction and processing of gold-containing ore, production of gold-containing goods, manufacture, storage and sale of gold and other precious metals, export of gold and other precious metals, precious stones, jewelry production, operations with refined precious metals and precious stones, transportation, organization of scientific and project-survey works and experimental developments.


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