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KazakhGold

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Kazakhgold
Key peopleMikhail Prokhorov, CEO

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.

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. The stake subsequently increased to 65% and a reverse takeover was planned. 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. In December 2010, Polyus agreed to sell its stake back to the Assaubayev family and dropped its legal action; Polyus' share price soared.

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. Archived from the original on 2011-09-30. 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.

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