Tau-Ken Samruk, JSC to acquire 63% stake in Masalskiy GOK, LLP

In june 30, 2014 there was an acquisition by Tau-Ken Samruk, JSC of 63% stake of Masalskiy GOK, LLP (hereinafter-Company) previously owned by Bureau of Mines, LLP.

The Company holds a subsoil right to operate on Masalskoye iron ore deposit located in Zharkain district, Akmola region, Republic of Kazakhstan.

In accordance with the Government Resolution No 1137 as of 04.10.2011, Masalskoye iron ore deposit is one of the strategic fields of the Republic of Kazakhstan.

Under the Tau-Ken Samruk, JSC development strategy up to 2022, approved by the Board of Directors on August 29, 2013, iron is a priority mineral.