In 2025, the mining company Ulmus Besshoky, which specializes in exploration of deposits in the Karaganda region, recorded a net loss of KZT 403.5 million. For comparison, a year earlier this figure was KZT 329.2 million, thus the loss increased by about 22.6%, reports the website infohub.kz.
In the reporting period, the company did not generate any revenue, as in 2024. At the same time, administrative expenses increased from KZT 191.9 million to KZT 442.6 million, and other operating expenses rose from KZT 258 thousand to KZT 3.8 million.
The operating loss amounted to KZT 413.2 million versus KZT 297 million a year earlier. The pre-tax loss reached KZT 403.5 million compared to KZT 329.2 million in 2024.
The negative result was partially offset by exchange rate gains, which amounted to KZT 29.7 million. In the previous year, the company had a negative result of KZT 101.6 million under this item.
According to the financial statements, at the end of 2025, the largest shareholder of Ulmus Besshoky was Ba Tau Minerals with a stake of 79.8%. Another 10.2% belonged to Bakyrchik Mining Enterprise, 5.5% to Timur Isaev, and 4.5% to Bhamra Prasad, a former member of the board of directors of the Unified Accumulative Pension Fund (ENPF). The ultimate controlling party of Ba Tau Minerals is indicated as Nurlan Kusainov, a citizen of Kazakhstan.
During the year, the shareholder structure changed. In 2024, Ba Tau Minerals controlled 78.84% of shares, Timur Isaev owned 11.32%, and Bhamra Prasad 9.85%.
Ulmus Besshoky was registered in Almaty in 2013. The company is engaged in exploration, evaluation, and development of solid mineral deposits, as well as design and operation of mining facilities.
Earlier, Kursiv reported that Ulmus Besshoky planned to attract contractors for drilling geotechnical wells at the Yuzhny and Vostochny Besshoky deposits, as well as Kaindyshoky in the Karaganda region, as part of the search for precious and non-ferrous metals. The company has remained loss-making since at least 2017.