The British oil and gas company Caspian Sunrise plc has signed an agreement to acquire assets in the mining sector for $25-45 million. This is reported in the press release of the Caspian Sunrise.
As part of the deal, Caspian Sunrise acquires 100% of the shares of Kazakhstan's Kazikhan Limited, which owns shares in companies with licenses to explore for manganese, gold, silver, copper and molybdenum.
In particular, GRK Borly LLP, a subsidiary of Kazikhan, holds a license to extract manganese with proven reserves of 8 million tons, and Zhambas PV holds a license to explore for gold and copper with gold reserves of about 700 kg.
The deal is aimed at increasing profits through the extraction of manganese and gold, as well as reducing the company's dependence on the Kazakh oil and gas market.
From the point of view of the Caspian Sunrise management, mining projects require less initial investment and are less subject to regulatory control and price volatility in the market.
Kazikhan is owned by two private owners in the structure of Oraziman Family Concert Party, who collectively own 50.52% of shares in Caspian Sunrise.
Caspian Sunrise plc is a British oil and gas company engaged in the exploration and production of crude oil. The company's main asset is the BNG contract area in western Kazakhstan. The company also offers oil field maintenance services. The headquarters is located in London (UK).
Read our Telegram channel "Mergers and Acquisitions. AK&M».
Our channel at MAX is "Mergers and Acquisitions. AK&M».
