The project for establishment of the Eurasian Stock-Exchange of Junior (Mining) Companies will provide a powerful impetus to development of the mining sector in Eurasia through fund-raising into the junior segment of the geological exploration.

This project will enable to expand the economic and scientific-technical cooperation between Russia and Kazakhstan, as well as contribute to further development of Russian-Kazakhstan strategic partnership.

The parties envisage to create a joint working group for detailed study and elaboration of suggestions with respect to infrastructure, technology, amendment to legal and regulatory framework of the Russian Federation, Republic of Kazakhstan and AIFC necessary for successful initiation and operation of the Eurasian Stock-Exchange of Junior (Mining) Companies.

The Memorandum stipulates the commencement and implementation of a pilot project for preparation to listing and public offering of securities of a junior (mining) company through the AIFC International Stock-Exchange.

The Memorandum was signed by Kairat Kelimbetov, CEO of AIFC, Yernur Rysmagambetov, Chairman of the Board of JSC AIFC Administration, Sergei Gorkov, Director General - Chairman of the Board of RosGeo, Kanat Kudaibergen, Chairman of the Board of JSC National Mining Company “Tau-Ken Samruk”, Anwar Boranbaev, Chairman of the Board of JSC NGK Kazgeologiya.

Sergey Gorkov, Director General, Chairman of the Board of RosGeo:

“The project will contribute to further development of collaboration between national economies of Russia and Kazakhstan, it will open up new opportunities for expansion of economic cooperation in the framework of EAEC. Whereby, for RosGeo, as the federal geological company, it is critical that the project will be helpful for involvement of additional funding from international investors into the initial stages of exploration activities, which are essential for reproduction of the mineral resource base of the Russian Federation.

The mechanism to be created in the purposes of investment encouragement through the open capital market is quite new for the Eurasian region, therefore, in the course of its establishment we will take into account the experience gained over decades in the countries with higher levels of junior business development."

Yernur Rysmagambetov, Chairman of the Board of JSC AIFC Administration:

“This project will enable to create a high quality legal and regulatory framework and infrastructure for further development of the industry. Meanwhile, the experience exchange between the Parties will accelerate the technological progress and greatly enhance the expert competences of the mining sector in the region."

Anwar Boranbaev, Chairman of the Board of JSC NGK Kazgeologiya:

“Establishment of the Eurasian Stock-Exchange of Junior (Mining) Companies will promote development of the geological exploration market and ensure the total qualitative growth of the mining industry. The engagement of investors, large multinational and foreign companies, as well as junior mining companies will catalyze the work on reproduction of the mineral resource base."

Kanat Kudaibergen, Chairman of the Board of JSC National Mining Company “Tau-Ken Samruk”:

Astana International Financial Center is an excellent platform for development of mutually beneficial cooperation both between the CIS countries and representatives of business communities from the countries all over the world."

The major mining companies, such as LLP Eurasian Resources Group, LLP Polymetal Eurasia and LLP Kazakhmys Corporation, the leaders in the mining industry, have expressed the interest and willingness to actively participate in implementation of the project on establishment of the Eurasian Stock-Exchange of Junior (Mining) Companies.

Let us remind, that earlier, on December 4, 2020, the AIFC, Ministry of Environment, Geology and Natural Resources of the Republic of Kazakhstan and RosGeo signed a Memorandum of Understanding, whereby the Parties agreed to cooperate the development of geological exploration sector in Kazakhstan and countries of the Eurasian region, including by raising the level of its investment attractiveness.


RosGeo is a Russian multi-disciplinary geological holding that carries out a full range of services related to geological exploration: from regional surveys to parametric drilling and monitoring of subsoil conditions. The holding company boasts a unique expertise, particularly in marine geology and shelf operations. A total of more than 1,000 fields and deposits have been discovered by the holding’s companies, including major hydrocarbon and solid mineral deposits and fields. RosGeo is a fully state-owned company.

Astana International Financial Center was established following the initiative of Elbasy Nursultan Nazarbayev,the First President of the Republic of Kazakhstan, in the framework of the Nations’ Plan “100 Steps for Implementation of Five Institutional Reforms." The Center Development Strategy for the period until 2025 was adopted at the meeting of the AIFC Governing Board on July 2, 2020. According to the vision stipulated in the Strategy, AIFC will become a leading international financial center in the region including Central Asia, the Caucasus, the EAEC countries, Western China, Mongolia and Eastern Europe. The mission of AIFC is to promote the sustainable long-term development of the region. As it was noted by K. Tokayev, the President of Kazakhstan: “AIFC, that possesses the unique capabilities, is capable to perform as a universal platform connecting countries in the region." The strategic directions of the AIFC sustainable development include the development of the closed-cycle economy, financial technology and “digital financial center”.

JSC National Mining Company “Tau-Ken Samruk” is incorporated within the group of companies of JSC National Welfare Fund “Samruk-Kazyna” and ensures the effective performance of mining management in the Republic of Kazakhstan. The strategic objectives include: 1) establishment of a high-quality portfolio of assets, and 2) engagement of strategic partners for implementation of key projects.

JSC Kazgeologiya is a national geological exploration company focused on the market of solid commercial minerals. JSC Kazgeologiya is engaged in reproduction of the mineral resource base of Kazakhstan.