Kazakhmys plc Chairman Vladimir Kim's decision to sell shares comprising 11% of the company to the Kazakh government underlines the unanswered questions raised by Global Witness earlier this year about who influences key decisions relating to this FTSE 100 mining company.
The Kazakh government is planning a power grab for Kazakhmys and ENRC, raising corporate governance concerns over its influence on the FTSE 100 mining companies.
Two exiled opposition activists from Turkmenistan have been barred from a human rights conference in Warsaw because their country objected to their presence, prompting criticism Tuesday from the United States, the European Union and Canada.
(SRI) - Kazakhmys Chairman Vladimir Kim sold an 11% stake in the company, nearly a third of his stake, to the Kazakh state-owned holding and investment company Samruk-Kazyna for about $1.3 billion, Kazakhmys said in a statement.
Kazakhstan's long-serving leaderhas announced his intention to stay at the helm of CentralAsia's largest economy for a third decade, erasing concernsabout the possibility of a destabilising succession struggle.
Turkmenistan's president said on Thursday the isolated Central Asian state had the capacity to almost quadruple gas exports in the next 20 years and was ready to meet demand from Europe.
Kazakh banks may have to write off 10 percent to 15 percent of loans after four of the former Soviet republic's lenders defaulted last year, Standard & Poor's said.
