Mahmud Kasymbekov, father of Astana Mayor Zhenis Kasymbek and former head of the Presidential Office, has registered a new company, Zhetisu Resources Ltd., in the Astana International Financial Centre (AIFC), reports infohub.kz.
This is not Kasymbekov's first asset in the mining industry. He is also a shareholder of the holding company Shygys-Zhetisu Minerals Ltd., registered in the AIFC.
Associated with this holding is the company Shygys Molybdenum, whose founders include Shygys-Zhetisu Minerals Ltd. and Kasymbekov's son, Ardak Kasymbek. Ardak previously worked at KazMunayGas and headed Kazyna Capital Management, now known as Qazaqstan Investment Corporation.
Earlier, Kursiv reported that Shygys Molybdenum was granted priority access to the Eastern copper-molybdenum section of the Shorskoye deposit, located on the territory of the former Semipalatinsk test site. The company also holds a land license for the construction of the Shorskoye mining and processing plant.
Among Kasymbekov's other mining assets are Zhetisu Mineral Resources and Ulytau Altyndary.
Mahmud Kasymbekov headed the Office of the First President of Kazakhstan, Nursultan Nazarbayev, for many years.