Eurasian Resources Group has confirmed a significant change to its shareholder structure, with Nature Energy Solutions Ltd. — a company owned by Kazakhstani businessman Shakhmurat Mutalip — acquiring a combined 39.3% stake from two of the group’s founding shareholders.
The acquisition comprises an 18.6% stake sold by Patokh Chodiev and a 20.7% stake sold by the heirs of the late Alexander Machkevitch. ERG said all of its enterprises continue to operate as usual and that the shareholding changes do not affect day-to-day operations, production programmes or the fulfilment of obligations to employees, partners and government authorities.
The group said the restructuring is intended to strengthen business resilience, enhance corporate governance effectiveness and support the implementation of ERG’s long-term development strategy.
The transaction marks a significant consolidation of Kazakhstani domestic ownership within ERG, one of the world’s largest diversified natural resources groups with major operations in copper, cobalt, aluminium, chrome and other commodities across Kazakhstan, Africa and beyond. Mutalip has been rapidly expanding his mining portfolio in recent months, having previously acquired gold producer Altynalmas and been linked to potential stakes in Kazzinc.
