Kazakhstan Chamber of Commerce in the USA


Polyus Gold extends first tranche deadline for the Assaubayevs 0

Posted on October 21, 2011 by Alex

Russia’s gold miner Polyus Gold International said on Friday it had agreed to extend for the second time  the payment deadline in a planned deal in which Kazakhstan’s AltynGroup would acquire some of Polyus’ production assets in Kazakhstan.

In April, Polyus and AltynGroup reached an agreement on the sale of production assets formerly held by KazakhGold, a Kazakh gold producer earlier acquired by Polyus,  in which the Russian gold miner agreed to sell the assets for $509 million.

Prior to the agreement, the two sides were engaged in a  long dispute following Polyus’ acquisition of KazakhGold  in 2009  which had been controlled by AltynGroup’s largest shareholders, the Assaubayev family.

Under the deal reached in April, the Assaubayevs agreed to buy controlling stakes in KazakhGold’s producing companies  for $260 million  payable by September 12 and then acquire the remaining stakes for $249 million by the end of 2012.

SOURCE: SRI, Kazakhstan Daily News Brief as of October 17, 2011

Kazakhstan Daily News Roundup – September 14, 2011 0

Posted on September 14, 2011 by Alex


Astana Finance to sell banking subsidiary
(SRI) – Astana Finance, a large Kazakh financial services company which had defaulted on its debt in 2009, said on Tuesday it plans to sell its commercial banking subsidiary, Bank Astana Finance.

Kazakhstan raises 2011 industrial growth forecast; cuts projected deficit
(SRI) – Kazakhstan raised its 2011 industrial output growth forecast to 6.0% from 4.8%, based on projected growth in mining and processing, and cut its projected 2011 deficit by 0.1% to KZT730.4 billion ($4.95 billion), or 2.8% of GDP.

Kazakhstan to spend KZT5 billion to subsidize grain exports (SRI)

Industrial production slows in Jan-Aug (SRI)


Kazzinc commissions new copper smelter in Kazakhstan
(SRI) – Kazzinc, a subsidiary of Swiss commodity trader Glencore International, said on Tuesday it has commissioned a new copper smelter in Kazakhstan and will complete the construction of a new lead smelter at the site in the first half of 2012.

Polyus Gold extends deadline for AltynGroup deal (SRI)


On the move: Ministry of Defense, Ministry of Agriculture (SRI)

Nazarbayev receives new Italian, Slovak, Estonian, Malaysian ambassadors (SRI)


EU kicks off talks on Caspian gas pipeline (AFP)

Russia calls on EU to halt talks on Caspian gas pipeline (Reuters)

Russian, Central Asian militaries to practice counterinsurgency, naval warfare (EurasiaNet)

SOURCE: http://silkroadintelligencer.com/2011/09/14/kazakhstan-daily-news-roundup-september-14-2011/

Kazakhstan Daily News Roundup – July 18, 2011 0

Posted on July 17, 2011 by KazCham


Joint commission to try resolve strike at Karazhanbasmunai
(SRI) – Local authorities, and representatives of KazMunaiGas Exploration and Production (KMG EP), trade unions and striking workers have agreed to form a working commission to resolve the strike at the Karazhanbasmunai oil facility, the Kazakhstan-Novosti news agency last week.

KMG EP to fold NBK subsidiary into own operations
(SRI) – KazMunaiGas Exploration Production (KMG EP) plans to formally fold its NBK subsidiary into its operations, pending approval by KMG EP’s shareholders on August 15, the Kazakh oil producer said in a statement last week.

Kazakh authorities initiate admin proceedings against gasoline retailer (SRI)

First phase of Ekibastuz GRES-2 upgrade to cost $58 million (SRI)

Oil exports and revenues up in Jan-May (SRI)

Jupiter Energy extends Kazakhstan permit area (Proactive Investors)


Second wave of privatization via “people’s IPO” necessary – PM (SRI)

Kazakhstan will not stop using tenge – PM (Interfax)

Indicators – July 15, 2011 (Reuters)


KazakhGold shareholders approve Polyus Gold reverse takeover (SRI)

Kazakh H1 copper output declines, zinc up (Reuters)


Kazakhstan has no plans to cede land to China – PM (SRI)


After Borat, Kazakhstan’s cinema dreams (BusinessWeek)

Kazakhstan will not impose hijab restrictions – PM (Interfax)

SOURCE: http://kazcham.com/wp-admin/post-new.php


Kazakhstan Daily News Roundup – May 26, 2011 0

Posted on May 26, 2011 by KazCham

Kazakhstan Daily News Roundup – May 17, 2011 0

Posted on May 17, 2011 by KazCham


Kazakh BTA bank bonds in sharp selloff
(Reuters) – Bonds in Kazakhstan’s BTA bank extended recent sharp losses on Monday, with the 2025 issue trading at a record low 56 cents on the dollar, following recent results which some said had disappointed investors.

Kazakhmys to list shares in Hong Kong in June
(SRI) – Kazakh copper miner Kazakhmys has gained regulatory approval for a secondary listing in Hong Kong, as it tries to build up its relationship with China, its largest customer.


Kazakhstan increases oil, gas, coal production in Jan-Apr 2011 (SRI)

Max Petroleum finds oil in ZMA-ET2 well at Zhana Makat field (Proactive Investors)


Kazakh Q1 trade surplus grows to $11.6 billion (Reuters)

$40 oil price appears in Kazakh economy negative scenario (Interfax)

Indicators – May 16, 2011 (Reuters)


Polyus Gold to close reverse takeover of KazakhGold in July
(RIA Novosti) – Russia’s top gold miner Polyus Gold will close a long delayed reverse takeover by Kazakhstan’s KazakhGold in July, Mikhail Prokhorov, owner of Onexim group, one of Polyus Gold’s beneficiaries, said on Monday.

Kazakh Jan-Apr copper, zinc output down (Reuters)

Frontier Mining: pit study underlines quality of Benkala project (Proactive Investors)


U.S. appoints first Turkmenistan envoy in 5 years (Reuters)

Jubilant Azerbaijan seeks new image with Eurovision (AFP)


Kazakhstan Daily News Roundup – April 12, 2011 0

Posted on April 12, 2011 by KazCham


Kazakhstan names new foreign, economy and agriculture ministers amid reshuffle
(SRI) – Kazakhstan appointed new foreign, economy and agriculture ministers amid a government reshuffle following the reelection of the long-time leader Nursultan Nazarbayev as President last Sunday.

Assaubayevs, Polyus reach deal over KazakhGold
(SRI) – Polyus Gold, Russia’s biggest gold producer, and Kazakhstan’s AltynGroup reached an agreement on the sale of KazakhGold’s operating assets after almost a year of dispute.


KMG EP buys four exploration blocks from parent firm
(SRI) – KazMunaiGas Exploration Production (KMG EP) has agreed to acquire four exploration blocks from its parent company KazMunaiGas for a total of $40 million.

Max Petroleum sees success in Kazakh well appraisal (Oil and Gas Eurasia)

Raising excise duties on oil products not a priority – official (Interfax)


Kazakh GDP grows by 6.5% in Q1 (SRI)

Indicators – April 11, 2011 (Reuters)


Frontier Mining completes acquisition of Coville (Proactive Investors)


Kazakh presidential adviser hints at new party (AP)

In Kazakhstan, a good old-fashioned sham election (New York Times)

Kazakhstan’s fictional democracy (Washington Post)


Goga strikes it rich in Kazakh gold deal (Telegraph)

SOURCE: http://silkroadintelligencer.com/2011/04/12/kazakhstan-daily-news-roundup-april-12-2011/

Kazakhstan Daily News Roundup – December 13, 2010 0

Posted on December 13, 2010 by KazCham


KazMunaiGas completes construction of LPG terminal at Midia Seaport (Interfax)


IFC to invest up to $350 million in Kazakhstan in FY2011
(SRI) – The International Finance Corporation (IFC), the private equity arm of the World Bank Group, plans to invest $300-$350 million in Kazakhstan this fiscal year, with a significant portion earmarked for infrastructure, Tomasz Telma, IFC’s representative in Kazakhstan, said last week.

Kazakhstan’s output rose 10.5% in January through November (Bloomberg)

National Bank of Kazakhstan: Exchange rates December 11-13, 2010 (Kazakhstan Today)

Indicators – December 10, 2010 (Reuters)


Kazakhs outshine Russians to win gold (EurasiaNet)

Polyus Gold CEO sacked, co-owner steps in (Reuters)


Kazakhstan’s Nobel no-show (EurasiaNet)

Russia, Kazakhstan leaders adopt action plan to enhance ties (RIA Novosti)


PM’s diktat drives Kazakhs iPad crazy (Telegraph)

Kazakhstan revives hunting with ‘fiercest’ eagles – video (BBC News)


Agreement sought on TAPI gas pipeline (AP)

SOURCE: http://silkroadintelligencer.com/2010/12/13/kazakhstan-daily-news-roundup-december-13-2010/

Kazakhstan Daily News Roundup – December 9, 2010 0

Posted on December 09, 2010 by KazCham


Polyus Gold reaches agreement with former KazakhGold owners, sells back assets
(SRI) – Polyus Gold, Russia’s largest gold producer, said on Wednesday it had sold the main production assets of its KazakhGold subsidiary back to the original owners of the unit, the Assaubayev family, for $509 million in cash.

Russia, Kazakhstan eye missile warning system work – sources
(Reuters) – Russia and Kazakhstan are looking to cooperate on a ballistic missile early warning system and Moscow is planning to sell Astana its S-300 defense missile system, Russian agency Itar-Tass reported Wednesday.

Sberbank to expand loan portfolio by 40% in 2011 – CEO
(SRI) – The Kazakh subsidiary of Russia’s largest bank, Sberbank, aims to expand its loan portfolio by 40% next year as Kazakhstan’s economy heads for recovery, Oleg Smirnov, the bank’s CEO, told Reuters on Wednesday.


Kazakhstan and Kyrgyzstan reach landmark electricity deal (SRI)

Oil export duty brought Kazakhstan KZT86 billion in August-November – Ministry of Finance (Interfax)

Kazakh companies to enjoy Russia’s and Belarus’s domestic tariffs on railway and oil pipeline transportation in 2013 (Interfax)


Halyk Finance to accept applications for Development Bank of Kazakhstan Eurobond issue (SRI)

Air Astana boosts long haul services to Asia (eTravel Blackboard)

National Bank of Kazakhstan: Exchange rates December 9, 2010 (Kazakhstan Today)

Indicators – December 8, 2010 (Reuters)

SOURCE: http://silkroadintelligencer.com/2010/12/09/kazakhstan-daily-news-roundup-december-9-2010/

Kazakhstan Daily News Roundup – July 30, 2010 0

Posted on July 30, 2010 by KazCham


Karachaganak should not pay export duty – BG Group CFO
(SRI) – BG Group believes that Karachaganak Petroleum Operating (KPO) should not be liable for Kazakhstan’s planned export duty, the company’s CFO, Ashley Almanza, told reporters on a conference call on Wednesday.

Kazakhmys H1 output beats forecast on strong demand
(SRI) – Kazakh miner Kazakhmys said its first-half output of finished metal from its own concentrate fell 3.4% but the company beat its guidance and reiterated its full-year target as demand stayed strong.


Ekibastuz GRES-1 income $70 million in H1 2010 (SRI)

Tengizchevroil’s direct payments to Kazakhstan increased by 77% in H1 (Interfax)


CenterCredit probe by financial police shows no violations (SRI)

Bank lending slightly down in H1 – central bank (SRI)

Moody’s downgrades ATF Bank to Ba2 (SRI)

Steppe Cement H1 revenues up 20% in H1 2010 (SRI)

GSM Kazakhstan installs 4G base station in Astana (TeleGeography)

National Bank of Kazakhstan: Exchange rates July 30, 2010 (Kazinform)


Financial police suspects Polyus Gold directors of fraud in KazakhGold deal (Interfax)


The U.S., Kazakhstan and stresses of empire (The Globalist)

Nuclear Center prepares documents for Semipalatinsk nuclear test site land reclamation (Interfax)


Disco fever fails to grip Almaty (EurasiaNet)


Uzbeks flee Kyrgyzstan for Russia (Global Post)

Food crisis next challenge for Kyrgyzstan? (EurasiaNet)

U.S. aims to expand its presence in Uzbekistan (CACI Analyst)

SOURCE: http://silkroadintelligencer.com/2010/07/30/kazakhstan-daily-news-roundup-july-30-2010/

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