100 per cent ownership of NGEC Qazgeology JSC belongs to NMC Tau-Ken Samruk JSC

Pursuant to the Resolution of the Government of the Republic of Kazakhstan dated December 30, 2021 #971 “On certain issues of reorganization of subordinate organizations of the Ministry of Ecology, Geology and Natural Resources of the Republic of Kazakhstan”, the state block of shares of Qazgeology JSC was transferred as payment for the placed shares of National Welfare Fund Samruk-Kazyna JSC.

100% voting shares of Qazgeology JSC are transferred to Tau-Ken Samruk National Mining Company, one of Kazakhstan’s leading companies in the field of geological exploration and mining.

“Tau-Ken Samruk National Company assumes the rights and obligations of Qazgeology JSC the Sole Shareholder”. It should be noted that all conditions for partners and investors will remain the same for all existing projects. However, we have the opportunity to expand the potential perimeter of co-operation. Subject to mutual interest, Tau-Ken Samruk can participate in investment projects at the construction and operation stages,” said Bakyt Chirchikbayev, Chairman of the Management Board of Tau-Ken Samruk NMC JSC.

Qazgeology JSC and Tau-Ken Samruk JSC strengthen their positions in the geological exploration market and increase opportunities to implement the large-scale projects for the exploration and extraction of natural resources. As part of cooperation between the two companies, it is planned to carry out complex geological and geophysical surveys, study mineral resources and develop solid mineral deposits.