Kazzinc, Verny Capital Pay $200 Million for Two Kazakh Gold Deposits

Reuters reported that two gold deposits located in Northern Kazakhstan have been bought by Kazzinc, a zinc producer controlled by Glencore International (LSE:GLEN) and Verny Capital, a Kazakh investment company, for around $200 million. Together, the deposits’ reserves amount to 70 tonnes.

As quoted in the market news:

The deal was accomplished through the purchase of Kazakh company Orion Minerals which owns rights for subsoil use at the Raigorodok field in the Akmola Region and Komarovskoye in the Kostanai region, Verny said in a statement.

Kazzinc owns 89.5 percent in the new company and Verny Capital 10.5 percent.

Verny Capital commented:

The new owners intend to implement an investment programme aimed at further industrial development of these deposits.

Click here to read the full Reuters report.