Altyntau Kokshetau, a gold mining company within the Kazinc structure, has started underground development of a deposit in the Zerenda district of the Akmola region. The first underground blast was carried out at the site, marking the start of portal excavation for the future mine. This will extend the deposit's life cycle until 2047, according to infohub.kz.
To expand production, local executive bodies have allocated an additional 1,057 hectares to the enterprise. Initial work began back in January of this year, when miners lifted the first bucket of rock. The company mines gold-bearing ore and processes it into gold concentrate at its own plant under subsurface use contract No. 1185.
"The project will make a significant contribution to the development of the Akmola region, create new jobs, and give a new impetus to the further development of the enterprise," noted Yernar Zharkeshov, Deputy Akim of the Akmola region.
Today, Altyntau Kokshetau provides 17% of the region's industrial output and 23% of its manufacturing industry. The enterprise employs over 1,700 people.
"The first blast for the portal of the future underground mine is an important step in the company's history. Behind this event lies the hard work of the team and a new stage we have been consistently moving toward," emphasized Arman Aliyev, General Director of Altyntau Kokshetau.
According to the 2025 financial statements, the company's net profit grew by 77.5%, from 211.6 billion to 375.6 billion tenge.
In recent months, the market has been actively discussing the possible sale of Swiss trader Glencore International AG's stake in Kazinc. The deal is estimated at $3.5 billion. As of December 31, 2025, Glencore owns 69.74% of the shares of Kazinc's parent company, state-owned Tau-Ken Samruk holds 29.82%, and other shareholders 0.44%.