ASTANA, Kazakhstan, December 10. Kazakhmys, Kazakhstan's copper production company, has signed a framework agreement that sets the stage for a change in control of Kazakhmys Corporation LLС, Trend reports via the company.
The agreement was signed by Kazakhmys President Vladimir Kim and Chairman of the Board Eduard Ogai, marking the beginning of the process to transfer ownership.
"In the coming weeks, all necessary steps will be taken in line with established procedures, and a share purchase agreement will be signed," Kazakhmys said in a statement.
The company emphasized that, in accordance with industry regulations, the transfer of ownership of shares or stakes in the mining and metallurgy sector requires special approval from Kazakhstan's Ministry of Industry and Infrastructure Development, as well as the Agency for Protection and Development of Competition.
Simultaneously, Kazakhmys will initiate the communication protocol with partners, creditors, minority equity holders, and various other stakeholders.
According to the signed agreement, the change in shareholder will not impact production processes, contractual obligations, employee benefits, or job stability. Kazakhmys’ operations will continue without interruption, and both current and future projects will proceed according to the company’s strategic plans.
Kazakhmys Group operates as a vertically integrated holding entity, strategically positioned with pivotal assets across the mining and non-ferrous metallurgy domains.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel