Bogatyr Komir CEO says no layoffs as Qatari investor takes control

September 24, 2026 at 12:06 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Bogatyr Komir CEO Yevgeny Masternak said no layoffs are planned as the Kazakh coal miner changes ownership. The state's Samruk-Energy is exiting the asset, with Qatar-registered Primet LLC set to hold 65% of the holding company. Masternak declined to disclose the deal's beneficiaries, calling it a shareholder-level matter.

Key Facts

Samruk-Energy signed an agreement on December 30, 2025, to sell its remaining 35% stake in Bogatyr Komir.
Primet LLC was registered in the Qatar Financial Centre in July 2025 with a charter capital of $10,000.
Bogatyr Komir CEO Yevgeny Masternak said no layoffs are planned and the focus is on digitalization and automation.
The population of Ekibastuz grows by 3,000–3,500 people annually, intensifying competition for workers.

Ownership Restructuring

Bogatyr Komir was previously owned on a parity basis by Samruk-Energy and Miradore Enterprises Limited, a structure representing Russian company Rusal. In 2025, an additional share issue in favor of Primet LLC diluted both shareholders' stakes from 50% to 35% each. Primet LLC initially received 30% of the asset, and after the deal expected to close in 2026, it will hold 65% of Forum Muider Limited, the holding company that owns Bogatyr Komir. The state will fully exit the strategic energy asset once the transaction is completed.

Beneficiary Disclosure

According to open data, the beneficiaries of Primet LLC are Joseph Nazih Karam and UAE-registered Prime Mining and Energy. Neither state representatives nor the mine's management disclose who owns Prime Mining and Energy or the deal amount. Masternak told journalists that beneficiary questions are at the shareholder level and should be addressed to the shareholders.

Workforce Stability

Masternak said there will be no changes or layoffs, and the new director's task is to improve operations. He cited trends toward digitalization, automation, and artificial intelligence to boost productivity and employee satisfaction. The main challenge, he said, is retaining workers amid intense competition for personnel in Ekibastuz.