Kazakhstan's uranium producer, Tselinny Mining and Chemical Plant, was sold to Sabton Limited (a company which is registered in Cyprus) at an auction held on 16 April. The value of the deal was KZT 36m (USD 0.3m). According to an Interfax source, Sabton Limited is a subsidiary of Africa Israel Investment Ltd. The auction was conducted using the Dutch method with a starting price of KZT 2.5bn and a minimum price of KZT 34.8m. (Interfax)

***

Based in the north of Kazakhstan, the iron ore producer Sokolovsko-Sarbaisky Mining and Concentrating Plant (SSMCP) produced 18 million tonnes of ore worth KZT 2.3bn (USD 20m) in 1Q99. Its sales in the same period totalled KZT 2bn (in 1998 the plant's sales reached KZT 12.7bn). The profitability of SSMCP in January-March was 2.5%—in 1998 the profitability was 16.4%. SSMCP transferred KZT 507m to the state budget and to non-budget funds in 1Q99. (Interfax)

***

Aluminium of Kazakhstan (based in the Pavlodar region in the north of Kazakhstan) is reported to have increased by 6% its output of alumina in 1Q99 compared with the same period of 1998. The production of bauxite at the company's mines increased by 1.8% and stripping grew by 24.4% in the same period. The company's management said earlier that the liberalisation of the Tenge will allow the company to increase its output since its products will then become more competitive on the Russian market. (Interfax)

***

Based in Eastern Kazakhstan, JSC Ust-Kamenogorsk Titanium and Magnesium Plant (Listing A on the KASE), has presented the new version of its Charter and its preliminary 1998 balance sheet to the KASE. The new charter defines the company's preferred shares as voting shares with a fixed minimum dividend of 10% of the face value of the share. According to the balance sheet presented, the plant had a net income of KZT 663m (about USD 0.8m) in 1998. As of the end of 1998, the company's receivables totalled KZT 501.4m and payables—KZT 630.2m; the company's share equity reached KZT 5.3bn (some USD 63m). Based on this balance sheet, the book value of one of the company's shares is KZT 4,966.13.

The plant is to have an annual general shareholders' meeting on 12 May to summarise the results of its performance in 1998. (IRBIS)

***

The transnational company Kazchrome produced 211,014 tonnes of commercial ferroalloys in 1Q99 (worth KZT 6,536.6m). This was up by 58.8% in comparison with the corresponding period of 1998. The production of chrome ore at the Donskoy GOK part of the company increased 12.6% to 389,800 tonnes against the same period last year. In January-March, Kazchrome sold KZT 6.6bn (about USD 76m) worth of products and its profit in this period reached KZT 195.2m (USD 2.2m). (Interfax)

***

The Shymkent Lead Plant (SLP) will be reportedly put up for auction on 19 April 1999. The plant was declared bankrupt on 30 December 1998. Following its segmentation, 30% of the plant's assets and liabilities were transferred to Yuzhpolimetal, a company based on the plant's property. This company employs 1,500 workers who formerly were working at the SLP. The latter still has 80 employees to safeguard the facilities. According to an Interfax source, at present, the SLP's debt totals KZT 3.6bn (about USD 32m). (Interfax)

Kazkommertsbank (KKB) intends to pay the half-year coupon on its Eurobonds in the first ten days of May 1999, Oleg Kononenko, Managing Director of the bank, said to Reuters. The bank made a USD 100m Eurobond issue last May which is due in 2001. The amount of the half-year coupon is 11.25%. The issue was led by ING Barings. In November 1998, the bank paid the first coupon on this Eurobond. Kononenko also said that Kazkommertsbank intends to repay, in December 1999, a USD 20m syndicated loan which the bank received at the end of 1998. (Reuters)