Kazakhstan’s copper-mining giant Kazakhmys is preparing for a change in shareholders, the company announced.
Agreement reached between current leaders
According to the statement, Kazakhmys President Vladimir Kim and Chairman of the Board of Directors Eduard Ogay have mutually agreed to transfer ownership. The formal sale and purchase agreement is expected to be signed soon.
The company noted that the ownership change will require approval from the Ministry of Industry as well as the Agency for the Protection and Development of Competition.
Prospective buyer reported
In late November, reports surfaced that businessman Nurlan Artykbayev — the owner of the construction firm Qazaq Stroy — was in talks to acquire Kazakhmys.
Operations expected to remain stable
Kazakhmys said the anticipated shareholder change will not affect production, operations or any existing contractual obligations.
