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History of the Company


JSC “AK Altynalmas” is one of the leading gold producers in the Republic of Kazakhstan and has wealth history of development and establishment.

Since attainment of independence in 1991, Management of the Republic set task to building up gold reserves and development of capacity for processing of gold raw material. For processing it was provided to use releasing capacity of enterprise of non-ferrous metallurgy, concurrently there was requirement to make own refining. For resolve this task Kazakh state consortium “Kazalmazzoloto” was made by Decree of President of the Republic of Kazakhstan. As soon as possible after processing of Kazakhstan raw material in refining of Russia all precious metal were returned to the Republic of Kazakhstan. And gold transferring to State depositary of the Republic of Kazakhstan (State depositary of RK) was executed in 1992 in capacity that exceeds 10 tons.

 

Consortium “Kazalmazzoloto” executed task of building up of gold reserves of the country and National joint stock company “Altynalmas” was founded on the basis of enterprises and organizations of Republican productive association “Kazzoloto” and Consortium “Kazalmazzoloto” by Decree of President of the Republic of Kazakhstan “About National joint stock company “Altynalmas” dated January 21, 1993, which became their legal successor. This day is considered as birthday of Company “Altynalmas”. At one time it acquired status of state’s representative in matters of extraction, processing and production of precious metal, precious jewels and products. Company continued to operation on development of gold extraction and establishment processing capacity directly in the Republic of Kazakhstan and it executed transferring of gold to State depositary of RK in 1993 at capacity 13,7 tons, including by enterprises of gold-mining sector that were included to its composition in the amount of 8,54 tons. The Company on this indicator reached maximum in 1994 – 14,6 tons.

                                           

 

The Government of the Republic of Kazakhstan began the process of demonopolization of gold-mining sector and state enterprises left the Company’s composition. In the same year National JSC “Altynalmas” was renamed to Joint Stock Company “AK Altynalmas” by Government Regulation No. 704 dated May 17, 1995 and acquired status of Managing Company. Functions of state regulation of gold production were transferred to Ministry of industry and commerce of the Republic of Kazakhstan. JSC “AK Altynalmas” was privatized in February, 1997 and it became Joint Stock Company with private form of property.



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