Exploration
New licences
We obtain licences over prospective blocks and explore from scratch: geological modelling, geophysics, sampling, drilling.
ExampleExploration licences over new blocks in Kazakhstan.
An investment company in the mining industry
Since 2018 Mining Capital Group has been building a portfolio of mining projects in Kazakhstan and operating them itself: from exploration to mining and processing.
Who we are
Capital and an operating team in one group
The group combines a management company in Almaty with operating subsidiaries in the Abai Region. We invest our own and partners' capital in mining projects and take responsibility for the result ourselves.
In every project we run exploration with independent consultants and accredited laboratories, estimate resources under the JORC and KazRC codes, manage mining and processing, and fulfil the subsoil user's obligations to the state.
- Founded
- 2018
- Headquarters
- Almaty, Kazakhstan
- Projects
- Taskora, Muzbel, Berkara, exploration licences
- Metals
- Gold, silver, copper; projects in other metals are also considered
- Resource reporting standards
- JORC Code (2012), KazRC
Vision
To become a leading mining company in Central Asia, where resources are extracted with respect for nature and people.
Mission
To supply the world with quality mineral resources by combining experience, expertise and responsible mining and processing practices.
How we work
Three ways to participate in a project
The scale above each column shows the stage at which we usually enter: exploration, resources, development, production.
Resources · Development
Advanced-stage deposits
We enter deposits with identified mineralisation, complete the exploration, estimate JORC-compliant Mineral Resources with independent consultants and prepare them for development.
ExampleMuzbel: exploration in 2020–2025, 1.0 Moz of gold in JORC Mineral Resources, a 3 Mtpa processing plant planned.
Production
Operating mines
We invest in operating businesses as investor and managing partner: improving efficiency, upgrading processing and launching growth projects.
ExampleBerkara: cathode copper, 5.5 ktpa, entered in 2026.
What we bring to every asset
- GeologyIn-house geologists, independent JORC consultants, assays at ALS and SGS with full QA/QC
- OperationsOpen-pit mining, CIP gold plant, capacity upgrades
- CapitalDeal structuring, equity and debt financing, project financial models
- Subsoil useContracts and licences, term extensions, reporting to state authorities
Criteria
Projects we consider
If your project meets these criteria, tell us about it.
- Metals
- Gold, copper, polymetallic and associated metals; primary deposits and mine waste (tailings and dumps)
- Stages
- From early exploration with confirmed prospectivity to operating mines
- Geography
- Kazakhstan and other jurisdictions with clear subsoil-use regulation
- Forms of participation
- Licence acquisition, purchase of stakes and assets, joint ventures, management of operating businesses
- Geological data
- Ability to confirm resources under JORC or KazRC; historical drilling and sampling data are welcome
- Legal status
- Valid licence or subsoil-use contract, no unresolved encumbrances
Confidential information is shared after an NDA is signed. Process: initial screening → technical review with a site visit → deal structure → due diligence and closing → management and growth.
History
Eight years of growth
From the first project to a portfolio of gold, copper and exploration licences.
- 2018
Entry into Taskora and Muzbel
The team enters the projects through the company's rehabilitation proceedings in order to restore its operations.
- 2020–2021
Mining resumed
Infrastructure restored, mining capacity and the in-house gold processing plant brought back into operation.
- 2022
First investor and drilling at Muzbel
The first investment partner joins the projects. Large-scale exploration of Muzbel begins, with assays at ALS and SGS.
- 2023
Rehabilitation completed
The company fully restores its business operations.
- 2025
Muzbel exploration programme completed
141 diamond drill holes totalling 27,600 m over 2020–2025.
- 2026
A million ounces and entry into copper
Independent JORC Mineral Resource estimate for Muzbel: 1.0 Moz of gold. Positive expert opinion on the extension of the Taskora contract; plant upgrade begins. The group enters Berkara as managing partner.
Leadership
Team
Experience in geology, mining, finance, law and corporate governance: from international audit to operating mines.
Chief Executive Officer
Yerzhigit Nabiyev
Group strategy, key transactions and partner relations.
- Education
- AlmaU Graduate School of Business
- Experience
- Kusto Group, SEVENFRIDAY AG
Chief Financial Officer
Mukhtar Nagimov
The group's finance function: resource and asset valuation, investment models, budgeting and reporting.
- Education
- Lomonosov Moscow State University: MSc Economics, BSc Geology
- Experience
- NCOC, Red Star Logistics FZE
Investment Director
Ansar Zhansayev
Project evaluation, deal structuring and fundraising.
- Education
- KIMEP University
- Experience
- KPMG, BDO, PwC
Legal Director
Altynshash Zhusipova
Legal support for subsoil use, licences, contracts and corporate transactions.
- Experience
- KPMG, BTA Bank, KazTransGas LNG
Mine Director
Murad Bekenov
Operations at Taskora: mining, processing at the CIP plant, industrial safety and occupational health and safety.
- Experience
- Management of industrial operations
Sustainability Director
Magomed Tsakayev
Environmental and social programmes, engagement with state authorities and local communities.
- Education
- Jinan University (China)
Chief Accountant
Assel Ongarbayeva
Financial and tax accounting for the group, preparation of financial statements.
- Education
- Kazakh National Agrarian University
- Experience
- MunaiTas, Mega Center Plus
HR Director
Aliya Balgimbayeva
HR policy, recruitment and development of staff in the office and at operating sites.
- Education
- Abai Kazakh National Pedagogical University
- Experience
- EY, Efes Kazakhstan, iSpace
Corporate governance
Transparent structure and regular reporting
- The management company is responsible for strategy, financing and control; the operating subsidiaries for mining and processing.
- Annual budget and monthly management reporting for every project: production, unit costs, cash flow.
- Independent Mineral Resource estimates under the international JORC Code.
- Compliance with subsoil-use legislation, licence and contract obligations.
The group's Board of Directors is being formed. Its composition will be published once approved.
Partners
Who we work with
ALSInternational laboratory: assays of exploration drilling samples
SGSInternational laboratory: check assays and data quality verification
Independent consultantsMineral Resource estimates under the JORC Code (2012)
Tau-Ken AltynDoré refining, LBMA Good Delivery accreditation