Polymetal International Plc, the gold and silver producer part-owned by Russian billionaire Alexander Nesis, agreed to buy the Kyzyl project in northeast Kazakhstan for $618.5 million to add 50 percent to its reserves.
Readers of ThinkRussia.com could be forgiven for believing BMX biking, advances in nanotechnology, and the opening of a Russian pancake house in New York are the biggest headlines from the ex-Soviet state.
When Bulat Utemuratov’s boss told him to go to Europe and open the first trading house for their newly independent Kazakhstan, his reaction was pure Soviet. “Oh no, They want to exile me,” Utemuratov remembers thinking with alarm.
Kazakhstan dropped AO Transtelecom, the provider of phone and Internet services headed by President Nursultan Nazarbayev’s grandson, from its list of state-run companies slated for sale through initial public offerings.