- Investment to support the exploration, mining, extraction and refining of gold from Biryuk’s mine in Kazakhstan with US$1B potential reserves
- ONERHT brings its ecosystem of professional and specialist services to support the commercialisation of Biryuk’s mine
Astana, 22 May 2023 – RHT AlDigi Financial Holdings Pte. Ltd. (“RHTAFH”) and Biryuk Altyn LLP (“Biryuk”) have signed a Memorandum of Understanding (“MOU”) to invest in and commercialise Biryuk’s gold mine, with support from the ONERHT ecosystem.
RHTAFH is a member of ONERHT, a Singapore-based multidisciplinary professional and specialist services group while Biryuk owns a 56sqkm gold mine, located 600km from Kazakhstan’s capital, Astana. The mine holds probable reserves of 50-100 tons of gold with a potential value of US$1 billion.
Under the MOU, RHTAFH-affiliate RHT Strategic Advisory Pte. Ltd. will invest in Biryuk, bringing ONERHT’s full suite of professional and specialist services to further support Biryuk as it begins to commercialise the mine.
Through ONERHT, Biryuk will have access to deep expertise and experienced advisors, with support from full service law firm RHTLaw Asia LLP, Monetary Authority of Singapore (“MAS”) regulated registered fund management company RHT DigiCapital Pte. Ltd., Recognised Market Operator licence holder SDAX Exchange Pte. Ltd., and Capital Markets Services licence holder RHT Capital Pte. Ltd.
AlDigi Group CEO Mr Jayaprakash Jagateesan said, “ONERHT brings deep expertise across legal compliance, fund management, digital assets and capital markets to support the needs of Kazakh businesses, including mineral, oil and gas (“MOG”) companies leveraging Singapore as a hub to engage South-east Asia and explore potential areas for cooperation.”
Biryuk Director Mr Khassanov Ruslan said, “Our partnership with ONERHT will enable us to tap Singapore’s expertise while accelerating the commercialisation of our mine. The MOU is also a significant milestone in economic cooperation between Kazakhstan and Singapore.”
The signing ceremony took place at the Kazakhstan-Singapore Business Forum held in Astana.
ONERHT is an integrated multidisciplinary platform of professional and specialist services. Since 2011, RHTLaw Asia’s founding team has developed a second engine of growth through ONERHT, an independent ecosystem of professional and specialist services, and networks, complementing RHTLaw’s full service legal offerings.
About Biryuk Altyn
The Biryuk area is located in the Northern Balkhash region, where a number of well-known gold and porphyry copper deposits are located. The total area of the geological allotment is 56 sq. km. Anomalies of hydrothermal secondary alterations and pronounced vertical zonality of Au-Ag-Cu-Pb-Zn, favorable for the discovery of epithermal-type deposits (SRK Consulting), were revealed.
Biryuk Altyn is a part of the industrial and investment group Ordabasy Group.