Druzhba Mining, the company behind a titanium-zirconium concentrate plant project in the Pavlodar region, ended 2025 with a loss of 83.2 million tenge, according to infohub.kz.
According to its financial statements, the company's revenue for the reporting period was 30.8 million tenge. This entire amount was used to cover the cost of products and services, resulting in zero income from core operations.
The main pressure on the financial result came from administrative expenses, which reached 79.2 million tenge. Another 4.9 million tenge went to other expenses. Thus, the company's operating loss amounted to 83.2 million tenge, compared to 63,000 tenge a year earlier.
Druzhba Mining was registered in December 2024. Its sole participant is the private company TZ Group Ltd, registered in Astana. At the end of 2025, the company employed nine people.
According to its charter, Druzhba Mining is engaged in exploration, extraction, and processing of solid minerals, as well as geological exploration work.
Earlier it was reported that Druzhba Mining plans to build a plant in the Maysky district of the Pavlodar region to produce titanium-zirconium concentrate. The project is estimated at over 27 billion tenge. Once at full capacity, the plant will produce more than 77,000 tons of products annually and create about 200 jobs.
According to open registries, the owners of TZ Group Ltd are Ilya Ivakhov and the company Alphatech Investments. Information about the ultimate owners of the latter is not disclosed in Kazakhstani databases – the company is registered abroad.
Meanwhile, in Kazakhstan there is a similarly named company, AlfaTech Group, one of whose co-owners is entrepreneur Sanzhar Rakhmetzhanov. On his website, he states that he develops projects in industrial engineering and digital technologies, and participates in a number of international engineering and technology projects.