Altynalmas Expands Operations with Acquisition of Two Mining Companies

Kazakhstan-based joint-stock company Altynalmas, controlled by businessman Vladimir Dzhumanbayev, has expanded its portfolio with the acquisition of two companies in the mining sector, Orda.kz reports.

According to a document published on the Kazakhstan Stock Exchange (KASE) website, Altynalmas has acquired 100% of the shares in LLP Anisimov Klyuch and LLP Met Miner. The value of the transactions has not been disclosed. The document is dated June 12.

Anisimov Klyuch is developing a polymetallic ore deposit in the Glubokovsky district of East Kazakhstan. The site spans approximately 11 hectares and has an annual production capacity of up to 500,000 tons of ore.

The company, which specializes in copper mining, has operated for eight years and paid 45 million tenge in taxes since its founding, including over 25 million last year. Previously, it was part of the Kazakhmys group.

The second company, Met Miner, is a three-year-old geological exploration firm operating in the Aqsuy area of the Aqmola region and near Stepnogorsk. Its focus is on identifying deposits of gold, copper, and other minerals.

This acquisition follows Altynalmas’s earlier purchase of Maykainzoloto, a gold mining operation known for a fatal 2024 incident. That deal allowed Altynalmas to acquire the company’s assets at roughly one-third of their estimated market value, saving over 11.8 billion tenge.

Altynalmas’s largest shareholders are Dutch holding company Gouden Reserves BV (67.5%) and Vladimir Dzhumanbayev (22.5%), who is ranked 21st on the Kazakhstan Forbes list with an estimated fortune of $472 million.

Original Author: Nikita Drobny