Kaz Gold Mining, a company based in Ust-Kamenogorsk, posted a profit of 58.1 million tenge for 2025, reversing a loss of 1.3 million tenge a year earlier, according to the company's financial statements, infohub.kz reports.
Kaz Gold Mining's revenue reached 110.7 million tenge in 2025, up from zero in 2024. The entire revenue came from clinker sales — a term traditionally referring to the hard sintered residue left after minerals are processed in rotary kilns. The company's retained earnings stood at 56.7 million tenge at the end of 2025.
Kaz Gold Mining was established in January 2023 in Ust-Kamenogorsk. Its sole owner is Bolat Baishalov. The company's core business is the exploration, beneficiation, processing and extraction of mineral ores. It holds a six-year license for solid mineral exploration issued in July 2021. The value of the exploration right was estimated at 27.2 million tenge at the end of 2025.
As of the end of 2025, Kaz Gold Mining owed Bolat Baishalov 9.8 million tenge under short-term, interest-free, unsecured loans he provided, 12.7 million tenge to Sei-Nar and 1.2 million tenge to BAT Firm.
Bolat Baishalov holds stakes in several companies and public associations: BAT Firm (Ust-Kamenogorsk, of which he is the sole owner), the Ikar production cooperative, Bilkildak Gold, the East Kazakhstan Region Judo Federation and the Shygys Judo public association. All are registered in Ust-Kamenogorsk.