Leopard Invest, a mining company co-owned by Kazakh billionaire Almas Mynbayev and Bereke Bank CEO Andrey Timchenko, ended 2025 with a loss of 168 million tenge, according to infohub.kz.
The company, which specializes in solid minerals and was expected to develop a molybdenum ore deposit, reported a loss of 168 million tenge, up from a loss of 52.7 million tenge the previous year. The company has no revenue or profit, indicating it has not yet started mining operations.
Administrative expenses reached 159 million tenge, triple the amount from the previous year. Other expenses totaled 9 million tenge.
In 2023, it was reported that Leopard Invest would develop the Koktenkol molybdenum ore deposit in the Shet district of Karaganda region. The open-pit mine was planned to be ready for extraction by the third quarter of 2025.
The deposit's reserves were estimated at over 597.4 million tons of molybdenum ore. In addition to molybdenum, the company planned to extract tungsten, silver, copper, and bismuth.
As of the end of 2025, the company's exploration and evaluation costs were valued at 413.7 million tenge.
The mining company has several co-owners. 46% belongs to businessman Almas Mynbayev, who ranks 36th among the wealthiest Kazakhs with a fortune of $320 million. Mynbayev is the nephew of Sauat Mynbayev, former Minister of Oil and Gas of Kazakhstan and ex-head of KazMunayGas and KTZ.
19% each are owned by Aitzhan Iksanov and Zhanbol Tapalov. Another 5% is held by Bereke Bank CEO Andrey Timchenko, a financier and businessman, through N1CREDIT.
Earlier, it was reported that Kazakh businessman Almas Mynbayev is suing the government of Guinea over a bauxite mining license.