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Kenges Rakishev prefers to opt in the precious metal mining and refinement

Kenges Rakishev is shifting his activities towards more value-intensive projects

22.Jan.20 12:23 AM
By Abigail Richards


Kenges Rakishev prefers to opt in the precious metal mining and refinement
Kenges Rakishev, one of the most internationally acknowledged Kazakhstan entrepreneurs, is shifting his activities towards more value-intensive projects. This trend is especially profound with the metal refinement and ore mining projects. Kenges Rakishev invested in gold mines and developed quite an extensive expertise on the matter. He was spotted around the Russian gold mining company just after he sold another one to the interested buyer. It seems that Rakishev seeks a decent mining company that can be managed with a limited team of skilled specialists rather thousands of workers and hundreds of managers. It makes Kenges Rakishev's assets more manageable and valued.

Central Asia Metals is a base metals producer headquartered in London and listed on the AIM stock exchange (AIM: CAML).  Kenges Rakishev's CAML has a diversified portfolio of operating mineral assets that includes two key operations: Kounrad Copper Mining Company in Kazakhstan and Sasa Zinc and Lead in Macedonia. The company also owns 80% of a northern Kazakhstan copper exploration project named Shauk. Through managing low-cost mineral assets, Central Asia Metals has become known for ensuring attractive returns to its shareholders. Until mid-2018 Kenes (Kenges) Rakishev was a significant shareholder and non-executive director at Central Asia Metals.

Kenges Rakishev turned the company to a leader

Kenges Rakishev was on the board from 2013, and held 19% of the company until the acquisition of the Sasa mine in Macedonia in September last year.

He had owned 40% of the Kounrad tailings project and converted that holding in the CAML stake. The company's chairman Nick Clarke said Rakishev had been a productive member of the board.

"On behalf of the board I wish to record our appreciation for Kenges' input over the years," Kenges Rakishev said.

"It has been a privilege to work with him and he leaves the Company with our best wishes for the future."

Kenges Rakishev is still very much involved in the London mining world, most recently putting his 22% holding in Petropavlovsk behind the sacking of the gold miner's board and the return of Pavel Maslovskiy as CEO.

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