FITCH AFFIRMS KAZAKHGOLD ON OXUS GOLD ASSET BID

摘要

LONDON. (Interfax) - Fitch Ratings has affirmed the ratings of KazakhGold Group Limited (KazakhGold), a Kazakhstan-based gold producer, at foreign currency Issuer Default rating (IDR) of 'B' with a Stable Oudook and S200 ml Senior Notes Issue, maturity date 6 November 2013, of 'B'. The affirmation follows the company's announcement that it plans to acquire certain assets of Oxus Gold PLC (Oxus). According to the rating agency, "these include a 100 percent interest in Norox Mining Company Limited, which, via its 66.67 percent holding in the Talas Gold Mining Company, owns a gold processing plant at the site of Jerooy gold mine in Talas, Kyrgyzstan; the remaining 50 percent in its joint venture with Oxus - Romaltyn Limited, Romania; and some exploration assets in Turkey, currendy owned by Oxus' 86 percent-Owned subsidiary, Marakand Minerals Limited."