Kazgeology to Become a Subsidiary of JSC NMC Tau-Ken Samruk

100 % of the voting shares of Kazgeology JSC were transferred to the National Mining Company “Tau-Ken Samruk”. The corresponding agreement was signed between Samruk-Kazyna JSC and JSC NMC Tau-Ken Samruk. Earlier, in accordance with the Decree of the Government of Kazakhstan No. 1128 dated December 30, 2022, the state block of shares of the National Geological Exploration Company “Kazgeology” was transferred to pay for the outstanding shares of Joint Stock Company “Sovereign wealth Fund “Samruk-Kazyna”.

The main activity of Kazgeology JSC is focused on searching for promising sites, exploration and evaluation of mineral reserves, as well as attracting foreign and domestic investments in projects for the reproduction of the mineral resource base of the country.

Bakyt Chirchikbayev, the Chairman of the Management Board of JSC NMC Tau-Ken Samruk: “The National Company “Tau-Ken Samruk” undertakes the obligations and rights of the Sole shareholder of Kazgeology JSC. I would like to note that for all existing projects, the conditions for partners and investors will remain the same. At the same time, we have the opportunity to expand the potential perimeter of cooperation. Subject to mutual interest, Tau-Ken Samruk can participate in investment projects at the stages of construction and operation”.

At the moment, Kazgeology, together with its partners, is implementing several dozen investment projects, joint ventures and consortia have been created. The company cooperates with the leaders of the global mining industry: Rio Tinto (Australian-British concern), Kazzinc LLP (Glencore), Yildirim Holding A.S. (Turkey), Polymetal OJSC (Russia), Kazakhmys Corporation LLP, Ulmus Fund commercial financial organization (Germany).

For information: The National Mining Company “Tau-Ken Samruk” implements projects in the field of exploration, development, extraction, processing and sale of solid minerals, develops and implements high-tech and efficient technologies in the mining and metallurgical industry. Tau-Ken Samruk is a member of the group of companies of JSC SWF Samruk-Kazyna, is a partner of Glencore International and owns a 29.82% stake in the authorized capital of Kazzinc LLP.

Kazgeology JSC was established on June 21, 2011 in accordance with the Decree of the Government of the Republic of Kazakhstan in order to expand the mineral resource base of the country. The company has permits (licenses) in the field of design, survey work, performance of works and services in the field of environmental protection.