KazakhGold

Kazakhgold
Key people
 Mikhail Prokhorov, CEO[1]

Kazakhgold is a gold mining company based in Kazakhstan. It has gold mines at Aksu, Bestobe and Zholymbet and is one of Kazakhstan's largest mining companies.[2]

Polyus

Kazakhgold had originally been founded by the Assaubayev family. In 2009 they sold a 50.1% stake to Polyus Gold, a Russian mining company.[3] The stake subsequently increased to 65% and a reverse takeover was planned.[4] Polyus subsequently alleged that the Assaubayevs had misled Polyus or tried to siphon off money from Kazakhgold. Kazahkgold's offices were raided by the Kazakh authorities.[5] In December 2010, Polyus agreed to sell its stake back to the Assaubayev family and dropped its legal action;[6] Polyus' share price soared.[7]

References

  1. ↑ "Polyus Gold CEO sacked". Mineweb. 2010-12-12. Retrieved 2010-12-12.
  2. ↑ "KazakhGold Group Limited". 2010-12-12. Retrieved 2010-12-12.
  3. ↑ Mason, Rowena (2010-12-12). "Polyus sues KazakhGold's former owners for $450m - Telegraph". The Daily Telegraph (London). Retrieved 2010-12-12.
  4. ↑ "Bitter Row Knocks Sheen Off Kazakh Gold Company". EurasiaNet.org. 2010-12-12. Retrieved 2010-12-12.
  5. ↑ "Mining Journal - Assaubayev family instigates Kazakhgold investigation". 2010-12-12. Retrieved 2010-12-12.
  6. ↑ Orange, Richard (2010-12-12). "Kazakh gold miner eyes London listing - Telegraph". The Daily Telegraph. Retrieved 2010-12-12.
  7. ↑ "Polyus Soars After Agreeing to Sell KazakhGold Assets". The Moscow Times. 2010-12-12. Retrieved 2010-12-12.

External links

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