A few years ago, journalist and blogger Kirill Pavlov came up with an unusual way to track the value of the U.S. dollar against the Kazakh tenge: the «Shymkent Shashlik Index.» He first discussed the idea in 2020. At the time, a single skewer of shashlik (kebab) in Shymkent cost…
In July, Georgia imported Kazakhstani oil for the first time. The shipment totaled 5,500 tons and was worth $3.2 million, according to data from Georgia’s National Statistics Office. The average price of oil shipped from Kazakhstan was around $582 per ton. For comparison, Georgia imported 87,400 tons of Russian oil…
The UK-registered company Nostrum Oil & Gas will sell its oil and gas assets in Kazakhstan to Altaris Holding, a company associated with Kazakhstani tycoon Kenes Rakishev. Oil and gas industry analyst Nurlan Zhumagulov believes that for Rakishev, the value of Nostrum Oil & Gas’s assets may lie not only…
The Gornyak Artel, a gold mining company operating in Kazakhstan’s Abay region, reported 8 billion tenge ($15.4 million) in profit in 2025, up 2.3% from the previous year. The company is owned by Liechtenstein citizen Adrian Roman Rheinberger. Gornyak is a subsidiary of gold mining company Akzhal Gold Resources. Its…
Kazakhstan-China Pipeline (KCP), which operates the Atasu-Alashankou and Kenkiyak-Kumkol oil pipelines, reported a 26% decline in net profit in 2025, according to its financial statements. The company’s net profit fell to 27 billion tenge (approximately $52 million) from 36.5 billion tenge a year earlier. Revenue declined 13.3%, from 87.9 billion…
Kazakh company Esil-Mining plans to begin producing approximately 1 million tons of wolframite ore annually at the Aksoran deposit in the Aiyrtau district of North Kazakhstan region by 2028, Qazba.kz reports, citing the company’s Potential Impact Report (PIR) based on an updated mining plan. The sole owner of Esil-Mining is…
KazMunayGas Karachaganak, a wholly owned subsidiary of Kazakhstan’s national oil and gas company KazMunayGas (KMG), plans to reduce capital expenditures on the Karachaganak project by nearly threefold in 2027, to 10.9 billion tenge (about $23 million) from 29.96 billion tenge. The plans are outlined in the company’s financial statements. The…
U.K.-based Ferro-Alloy Resources, which is developing the Balasausqandiq vanadium deposit in Kazakhstan’s Kyzylorda region, has submitted applications for funding from U.S. government agencies and has begun exploring the extraction of the rare earth element yttrium as a potential byproduct. The company disclosed the plans in a strategic update published on…
KMG International, a subsidiary of KazMunayGas (KMG), Kazakhstan’s national oil and gas company, reported a profit of $87 million in the first six months of 2026, compared with a $6 million loss in the same period of 2025, KMG reported. Consolidated EBITDA reached $203 million, up 40% year over year,…
Negotiations to sell Brazilian mining company Bahia Mineração (Bamin), part of Kazakh mining group Eurasian Resources Group (ERG), to Portugal’s Mota-Engil are in the final stages. An agreement could be signed within the next few weeks, according to BNamericas. Read also: China enters talks for Kazakhstan’s stalled Brazilian mega-project. The…
Kazakhstan-based Resurs 2018 plans to develop the Bayan tungsten deposit in the Aiyrtau district of the North Kazakhstan region, with production of up to 1 million tons of tungsten ore per year expected to begin in 2027. The project’s ultimate beneficial owners include several individuals, including Mukadaskhan Ibragimova and billionaire…
British oil and gas company Nostrum Oil & Gas announced on the Astana International Exchange (AIX) that it is in talks to sell its Kazakhstan business, with all of the company’s assets located in the country. The company said it has received interest from a potential buyer. According to Nostrum…
Tengizchevroil (TCO), which operates Kazakhstan’s Tengiz oil field, plans to produce up to 40 million tons of oil by the end of 2026, according to Kazakhstan’s Ministry of Energy. In 2025, TCO produced 39 million tons of oil. In the first half of 2026, TCO produced 16.6 million tons of…
Between January and May 2026, Kazakhstan exported 7,990 tons of chilled beef worth $56.7 million. Uzbekistan was by far the largest destination for Kazakhstan’s chilled beef exports. According to TradeReport, the country accounted for about 91% of Kazakhstan’s total chilled beef exports during the period, highlighting the sector’s heavy reliance…
In 2025, China was the largest export market for nine of Kazakhstan’s regions, while Russia ranked first for seven. Italy, Switzerland and Uzbekistan were the top export destinations for the remaining regions. Read also: Between giants: Kazakhstan’s deepening ties to China and Russia. The map below shows the country to…
Kazakhstan’s Ministry of Justice says the country is not obligated to comply with an interim ruling issued by the U.N. Commission on International Trade Law (UNCITRAL) arbitration tribunal. As a result, shareholders in the Kashagan consortium could still be required to pay a 2.3 trillion tenge environmental fine, along with…
East Kaz Alloys plans to conduct geological exploration for chromium ore at the Saburkhan-3 site in the Zharma district of Kazakhstan’s Abai region. “The site is located 160 kilometers southeast of the regional center, Semey, and 9 kilometers from the district center, the village of Kalbatau… The work will focus…
Kazakhstan’s exports declined 3.2% year over year in 2025 to $79.0 billion, primarily because of unfavorable global market conditions. Exports of raw materials fell 4.5% to $50.7 billion, while shipments of processed goods proved more resilient, declining just 0.8% to $28.4 billion. As a result of greater export diversification and…
UK-based mining company East Star Resources is preparing to begin drilling at the Verkhuba deposit in the East Kazakhstan region to explore its reserves. The project will be financed through to the production stage by Chinese Xinhai, with which the British company has formed a joint venture in the Astana…
Akmaya Tungsten, which plans to build a mining and processing plant at the Akmaya tungsten deposit in Kazakhstan’s Karaganda region, expects to export its products to the U.S., Europe, Japan and South Korea, according to a draft project report outlining potential development plans. The company said the project would help…
The logistics corridor through Kazakhstan is experiencing unprecedented growth. In 2025, Chinese cargo transit through the country reached a record 20.2 million gross tons, up 32% from the previous year and the highest level recorded in at least 13 years. According to Data Hub, the upward trend has continued for…
Eurasian Resources Group (ERG) plans to begin fieldwork soon to explore and potentially develop chromium deposits in Afghanistan, according to a Qazba.kz correspondent who recently visited Kabul with a Kazakh delegation led by Deputy Prime Minister Serik Zhumangarin. ERG may acquire a deposit in Afghanistan or form a joint venture…
The case involving NCOC, the operator of the Kashagan oil field, is still under review by Kazakhstan’s Supreme Court. However, Zhomart Aliyev, Kazakhstan’s vice minister of ecology and natural resources, said he believes the government will ultimately recover 2.356 trillion tenge (about $5 billion) in environmental fines from the consortium.…
Eurasian Resources Group (ERG) commented on reports of mass layoffs that had previously circulated publicly. One employee who contacted Kursiv.media’s editorial office said he had been told that he “didn’t have to come to work anymore.” Reports also claimed that the company planned to cut 20% of its workforce and leave…
