KazakhGold
From Kazakhstan Encyclopedia
Template:Infobox company Kazakhgold is a gold mining company based in Kazakhstan. It has gold mines at Aksu, Bestobe and Zholymbet and is one of Kazakhstan's largest mining companies.[1]
Polyus
Kazakhgold had originally been founded by the Assaubayev family. In 2009 they sold a 50.1% stake to Polyus Gold, a Russian mining company.[2] The stake subsequently increased to 65% and a reverse takeover was planned.[3] Polyus subsequently alleged that the Assaubayevs had misled Polyus or tried to siphon off money from Kazakhgold. Kazahkgold's offices were raided by the Kazakh authorities.[4] In December 2010, Polyus agreed to sell its stake back to the Assaubayev family and dropped its legal action;[5] Polyus' share price soared.[6]
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