Kazakhstan Chamber of Commerce in the USA

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Russian Polymetal approves acquisition of gold project in Kazakhstan 0

Posted on September 01, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #93

The shareholders of the Russian Polymetal International PLC approved the acquisition of Altynalmas Gold Ltd within the General Meeting held on Aug. 14 in London, the company reported.

Altynalmas Gold is the holding company for the Kyzyl gold project in Kazakhstan. The Kyzyl gold project comprises the Bakyrchik and Bolshevik gold deposits and is located in north-eastern Kazakhstan. The acquisition will increase Polymetal’s gold equivalent reserves by approximately 50 percent. Bakyrchik contains 6.7 million ounces of gold maintaining 7.5 grams of gold per tonne, and its life will reach 20 years.

Polymetal has entered into binding agreements with Sumeru Gold B.V. and Sumeru LLP for the acquisition of Altynalmas Gold in May. The company conditionally agreed to purchase the entire issued share capital of Altynalmas Gold from Sumeru, together with Shareholder Debt owed by Altynalmas Gold to Sumeru.

The acquisition of Altynalmas Gold is conditional upon receipt of the required regulatory approvals and fulfillment of other conditions, and is expected to be completed in the fourth quarter of 2014.

Kazakhstan Daily News Roundup – June 22, 2011 0

Posted on June 21, 2011 by KazCham

HEADLINES:

BTA Bank says has cash to meet June bond payment
(SRI) – BTA Bank, Kazakhstan’s third-largest bank by assets, said it had sufficient liquidity to meet an upcoming bond coupon payment of $166 million without affecting its day-to-day operations.

BTA seeks U.K. prison terms for Ablyazov accomplices
(SRI) – BTA Bank, Kazakhstan’s third largest lender, is seeking U.K. prison terms for two alleged accomplices of the bank’s fugitive former chairman Mukhtar Ablyazov, Bloomberg reported on Tuesday.

ENERGY:

Kazatomprom, Areva joint venture to boost uranium output in 2012
(SRI) – KATCO, a joint venture between French nuclear group Areva and Kazakhstan’s Kazatomprom, plans to raise its annual uranium production to 4,000 tonnes in 2012, the head of the venture said on Tuesday.

CPC expansion project to officially launch on July 1 (SRI)

Production resumes in Kazakhstan – Caspian Energy (Marketwire)

BUSINESS AND ECONOMY:

Kazakh MinFin working on SCO Development Bank concept – deputy minister (SRI)

Results of 2011 sowing season (AgriMarket.Info)

China to set up free trade zones with Kazakhstan, Kyrgyzstan (RIA Novosti)

Indicators – June 21, 2011 (Reuters)

METALS AND MINING:

Kazakhmys to start trading in Hong Kong on June 29 (SRI)

Polymetal completes Varvarinskoye audit (SRI)

POLITICS:

The rocky road of Kazakhstan’s Afghanistan deployment (EurasiaNet)

SOCIETY:

Polygamy a fact of life in Kazakhstan (RFE/RL)

SOURCE: http://silkroadintelligencer.com/2011/06/22/kazakhstan-daily-news-roundup-june-22-2011/

 

Kazakhstan Daily News Roundup – October 21, 2010 0

Posted on October 21, 2010 by KazCham

HEADLINES:

Karachaganak could be facing new claims – tax official
(SRI) – Kazakhstan may issue new tax claims against Karachaganak Petroleum Operating (KPO), the Western-led joint venture developing the Karachaganak gas condensate field in western Kazakhstan, a Ministry of Finance official said on Wednesday.

Kazakhstan considering KazMunaiGas IPO in London in 2011 – Samruk-Kazyna
(SRI) – Samruk-Kazyna, the state-owned holding and investment company, plans to sell up to 20% of the national oil company KazMunaiGas as early as next year, Bloomberg reported citing Samruk-Kazyna head Kairat Kelimbetov.

Iraq auctions off large gas field to KazMunaiGas, KOGAS
(AFP) – The largest of the three fields up for sale went to a Kazakh and Korean consortium; the next biggest to a Turkish-Kuwaiti-Korean bid; and the smallest to a Turkish-Kuwaiti joint venture.

ENERGY:

KMG EP crude output up 15% year-on-year in first nine months of 2010 (SRI)

Tethys Petroleum announces successful closing of $100-million public offering (Marketwire)

BUSINESS AND ECONOMY:

Indicators – October 20, 2010 (Reuters)

METALS AND MINING:

Korean steelmaker to form material joint venture in Kazakhstan (SRI)

Polymetal plans to acquire 85% interest in Kazakh mine (SRI)

ENRC mines a seam of anger in Katanga (Financial Times)

POLITICS:

Irksome to President, Kazakh PM still loved by his people (EurasiaNet)

SOCIETY:

All Kazakhstan’s citizens must speak Kazakh – Nazarbayev (Interfax)

SOURCE: http://silkroadintelligencer.com/2010/10/21/kazakhstan-daily-news-roundup-october-21-2010/

Kazakhstan Daily News Roundup – October 5, 2010 0

Posted on October 05, 2010 by KazCham



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