Not so long ago, there was information that the estimated resources at the Yuzhnyi Raigorodok deposit had doubled. Consequently, Kazakhstan has strengthened its position in the list of world leaders in the proven reserves of gold. Detailed information can be found here.
Yuzhnyi and Severny Raigorodok deposits are owned by the investment company Verny Capital, the key shareholder of which is Bulat Utemuratov. The business is not the first to invest in the mining industry, modernizing enterprises and putting them into the market leaders.
Million for resale of metals
Bulat Utemuratov founded his business in the early 1990s, when he worked at the Trading House of Kazakhstan in Vienna. He told about this in a frank interview with the Bloomberg Market magazine. Having got useful acquaintances in the commercial environment of Austria, Utemuratov established the resale of copper and zinc from Kazakh mining companies to large European corporations. Business began to develop rapidly, and a year later the 35-year-old entrepreneur earned his first million dollars. Bulat Utemuratov emphasizes that he has always acted transparently and completely legally, and his bosses knew about his transactions.
Vasilkovsky Ore Mining and Processing Enterprise
The investment group Verny Capital undertook Vasylkovsky Ore Mining and Processing Enterprise in 2006. At that time the enterprise was in a stagnation stage, there was hardly any production conducted, and production capacities were idle.
Bulat Utemuratov decided to invest in a comprehensive update of existing technological processes. Especially for Vasilkovsky Ore Mining and Processing Enterprise, Outotec ball mills were designed and manufactured, and a new ore-dressing plant was built. Caterpillar dump trucks and RH 120-E TEREX excavators were purchased. On the website https://bulatutemuratov.com/ you will find a detailed description of the transformation process of a loss-making enterprise into the flagship of gold mining in the country.
Bulat Utemuratov is a member of the Board of Directors of Kazzinc Holdings company, which manages the investment and strategic production planning of Kazakhstan’s largest zinc producer – Kazzinc LLP. The company’s share in the market is estimated at 80%. The company owns 8 operating mines, 3 large enrichment complexes and a hydroelectric power plant with a capacity of 675 MW.