Chaarat enters into $10m loan agreement

MINEX Forum | November 16, 2018
img0 Aim-quoted Chaarat has entered into a new loan agreement for $10-million, the company announced on Thursday. The proceeds would be applied to Chaarat’s goal of building a leading emerging markets gold company with an initial focus on Central Asia and the former Soviet Union, as well as to support the recent Kapan acquisition. “This new ...

Investment into Kazakh geology and subsoil use industry to be heavily incentivised, says minister

MINEX Forum | November 15, 2018
img0 The geology and subsoil use industry is a significant contributor to Kazakhstan’s economy, accounting for approximately 50 percent of investment inflow, and is undergoing major reform, said Kazakh Minister for Investments and Development Zhenis Kassymbek at a Nov. 13 government meeting. The recently adopted and implemented code on subsoil and subsoil use corresponds to international ...

Kazatomprom makes its debut in London after $3bn IPO

MINEX Forum | November 14, 2018
img0 The world’s biggest uranium producer Kazatomprom made its stock market debut on Tuesday after raising $450m from investors in London and Astana. On the London Stock Exchange its global depositary receipts — certificates which allow international investors to hold its shares — were trading at $12.00, up from the issue price of $11.60. The receipts ...

Kazatomprom IPO begins

MINEX Forum | November 14, 2018
img0 Conditional trading of shares in Kazakh uranium producer NAC Kazatomprom has today begun on the London Stock Exchange (LSE). The company is also due to float on the stock exchange of the Astana International Finance Centre (AIX). Kazakh sovereign wealth fund Samruk-Kazyna has offered 38,903,491 shares including global depositary receipts, or GDRs, representing 15% of ...

ArcelorMittal needs one month to restore Kazakh output

MINEX Forum | November 13, 2018
img0 ArcelorMittal Temirtau, a Kazakh unit of the world’s largest steelmaker, said on Monday it would take a month to restore output at its steel mill after an incident on Saturday prompted a partial suspension of operations. ArcelorMittal Temirtau, Kazakhstan’s biggest steel mill, said at the weekend that several gas pipelines had been damaged after a ...

Chaarat Gold says Centerra refused C$2B offer for firm, not just Kumtor

MINEX Forum | November 2, 2018
img0 Chaarat Gold Holdings (LON:CGH), the company that tried and failed to buy Centerra Gold’s (TSX:CG) Kumtor mine in Kyrgyzstan, revealed Wednesday the Canadian miner turned down an unconventional takeover offer, valued at about C$2 billion (roughly $1.52B), for the entire company. The Central Asia-focused gold miner last month proposed buying the Toronto-based company in an ...

Kazatomprom, the world’s largest uranium miner, plans listing in London

MINEX Forum | October 24, 2018
img0 The arrival of Kazatomprom in London will mark the second significant uranium-related listing within a year. Kazatomprom, the world’s largest producer of uranium, is planning a listing in London later this year or early next year. The company’s chief executive Galymzhan Pirmatov cited a recent rise in uranium prices coupled with a bullish outlook for ...

Chaarat appoints new board member

MINEX Forum | September 13, 2018
img0 Aim-quoted exploration and development company Chaarat Gold has appointed Robert Edwards – a mining engineer with broad institutional and corporate experience – to its board as an independent nonexecutive director. Edwards is the former chairperson of Global Mining at Renaissance Capital and has also worked for HSBC and the Royal Bank of Canada. Edwards is ...