Altynalmas Opens Its Own Trading House Amid Ongoing Expansion

Gold mining company AK Altynalmas has launched a new subsidiary — AA Trading House — as part of a broader expansion of its business operations, Orda.kz reports.

Information about the newly founded company appeared on the KASE website on June 20. According to the entry, AA Trading House LLP was registered on June 13 as a small enterprise. The director is listed as Kezban Abdurashidova, who, according to open data, previously worked at Kazakhmys Energy.

No other companies are registered under the same name.

The move comes shortly after Altynalmas acquired two other companies: Anisimov Klyuch LLP, which develops a polymetallic ore deposit in East Kazakhstan and was previously part of the Kazakhmys group, and Met Miner LLP, which is engaged in geological exploration and gold prospecting in the Aqmola region.

Earlier, Altynalmas bought the Maykainzoloto mine — a deal that reportedly came at a deep discount. The asset was acquired for a price three times below its estimated market value, resulting in a savings of 11.8 billion tenge for the company.

JSC AK Altynalmas is one of Kazakhstan’s largest gold mining enterprises. Its major shareholders are Dutch holding Gouden Reserves BV (67.5%) and businessman Vladimir Dzhumanbayev (22.5%), who ranks 21st on the Kazakhstan Forbes list with an estimated fortune of $472 million.

Recently, authorities reported dismantling a criminal group accused of stealing gold ore from one of Altynalmas' deposits in the Jambyl region.

Original Author: Nikita Drobny