A gold mining company operating in the Abai region has posted a net profit of 8 billion tenge for 2025, up 2.3% from the previous year. The earnings went to its ultimate beneficiary, Adrian Roman Reinberger, a citizen of Liechtenstein, according to infohub.kz.
Revenue from core product sales reached 37.6 billion tenge, a 47% increase compared to 2024. The company supplies gold-bearing flotation concentrate and sulfide ore to Kazakhmys Corporation at fixed prices. Meanwhile, cost of sales rose by 24% to 15.8 billion tenge.
Administrative expenses surged 2.7 times to 4 billion tenge, significantly impacting the final profit. Additionally, other expenses amounted to 3.7 billion tenge, whereas the company had previously reported income under this item.
Artel Prospectors Gornyak holds licenses for the Karazhal, Akshkola, and Yuzhny Akzhal deposits in the Abai region. The company also has substantial credit obligations: in September 2022, it signed a long-term credit line agreement with Bank RBK equivalent to $70 million. By the end of 2025, the debt to the bank stood at 3.7 billion tenge.
In 2025, the company declared and paid dividends of 1.2 billion tenge to its shareholder, Akzhal Gold Resources. Through this entity and the Dutch International Private Equity Initiative B.V., the company is owned by Adrian Roman Reinberger.
Recall that in 2024, Akzhal Gold Resources posted a profit of 7.9 billion tenge.