Tau-Ken Samruk profit doubles to 111.4bn tenge on North Katpar sale

September 14, 2026 at 05:20 PM2 min

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Kazakhstan's Tau-Ken Samruk reported first-half profit of 111.4 billion tenge, more than double a year earlier. The gain was driven by 55.2 billion tenge in recognized profit from the sale of a 70% stake in the North Katpar tungsten deposit to US-based Cove Kaz Capital. The company transferred control of the asset on May 4.

Key Facts

Tau-Ken Samruk's first-half profit reached 111.4 billion tenge, double the year-earlier figure.
The sale of a 70% stake in North Katpar to Cove Kaz Capital contributed 55.2 billion tenge of recognized profit.
The fixed transaction price was 38.1 billion tenge, but Tau-Ken Samruk received only 11.4 billion tenge in cash.
Tau-Ken Samruk also sold the Alaygyr polymetallic deposit to China's Zhejiang Mining Heavy Industry for 350 million tenge.
Total revenue rose 70% to 1 trillion tenge, driven by gold sales of 14.6 tonnes to the National Bank.

North Katpar Sale

Tau-Ken Samruk recognized 55.2 billion tenge in profit from selling a 70% stake in the North Katpar tungsten deposit to US-based Cove Kaz Capital. The fixed transaction price was 38.1 billion tenge, while the company received only 11.4 billion tenge in cash. Tau-Ken Samruk recorded a financial asset of 40.8 billion tenge tied to future settlements under the deal. The remaining stake in the deposit was valued at 16.2 billion tenge, from which the company deducted 13.2 billion tenge in net assets of North Katpar. The payment schedule and terms of the additional contingent consideration were not disclosed in the financial statements.

Other Asset Sales

Tau-Ken Samruk received 350 million tenge from selling the Alaygyr polymetallic deposit to China's Zhejiang Mining Heavy Industry Co., Ltd. The Chinese investor must repay 28.8 billion tenge of the enterprise's debt to Tau-Ken Samruk. The investor is also required to maintain the business profile, complete plant construction, and launch industrial production of lead-containing products within five years.

Financial Performance

Tau-Ken Samruk's total revenue increased 70% to 1 trillion tenge in the first half. Gold sales to the National Bank totaled 14.6 tonnes, but the cost of those sales exceeded revenue. The company posted a gross loss of 150.7 million tenge and an operating loss of 2.6 billion tenge. Its stake in Kazzinc contributed 43.7 billion tenge in profit and 29 billion tenge in dividends. Interest income from cash placements amounted to 9.8 billion tenge.