Altynalmas to receive 191.6 bln tenge from subsidiaries before sale
This digest was compiled by AI from multiple sources — links to the originals are below.
The board of gold miner Altynalmas approved the distribution of 191.6 billion tenge in profit from three subsidiaries, ahead of the company's transfer to billionaire Shakhmurat Mutalip, owner of ERG. The funds will be channeled to Altynalmas as part of a restructuring process. The largest contribution comes from Aksu Technology, which will allocate 90.9 billion tenge.
Profit Distribution Details
Altynalmas' board approved the distribution of 191.6 billion tenge in profit from three subsidiaries, according to corporate data disclosed on the Astana International Exchange (AIX). Aksu Technology will contribute the largest share: 40 billion tenge from Q3 2025 profit and 50.9 billion tenge from retained earnings. The other two subsidiaries, whose names were not disclosed, will provide the remaining 100.7 billion tenge.
Sale to ERG Owner
The profit distribution precedes the transfer of Altynalmas to Shakhmurat Mutalip, the owner of Eurasian Resources Group (ERG). Mutalip, a Kazakh billionaire, is acquiring the gold miner as part of a broader consolidation. The deal's financial terms have not been publicly disclosed. Altynalmas is one of Kazakhstan's largest gold producers, with output exceeding 300,000 ounces annually.
23 Billion Tenge Investment in Pustynnoye
Altynalmas plans to invest over 23 billion tenge in the development of the Pustynnoye deposit in the Karaganda region, 120 kilometers east of Balkhash. The funds will be used for expansion and modernization of production.
12 Billion Tenge Sports Complex Investment
Altynalmas is investing 12 billion tenge to build a physical fitness and health center in Stepnogorsk, Akmola Region. The company held a groundbreaking ceremony for the project, which is funded entirely by the gold miner.
What's Next
The profit transfer is expected to be completed in the coming weeks, pending regulatory approvals. It remains unclear whether the deal will face antitrust scrutiny or require approval from the National Bank of Kazakhstan.
3 sources
Altynalmas to receive 191.6 bln tenge from subsidiaries before sale
