Aurora Minerals Group
| Company type | Private |
|---|---|
| Industry | Mining |
| Founded | 2015 |
| Headquarters | , |
Area served | Kazakhstan |
Number of employees | 500 (2022) |
| Subsidiaries | Aurora Geophysics |
| Website | https://aurora.kz |
Aurora Minerals Group is a Kazakhstan-based company that provides a wide range of exploration and support services for the mining industry. Established in 2015, the company is headquartered in Astana, Kazakhstan. Its services include exploration project management and the development of strategies for effective field development; geophysical surveys such as magnetic, electrical, borehole geophysics, and topographic surveying; logistics and supply chain support, including customs services; as well as legal support for transactions, including mergers and acquisitions (M&A) and licensing.[1]
History
[edit]In 2017, it signed a three-year contract with Airbus Defence and Space for remote sensing services. In 2018, Aurora Minerals Group was the sole Kazakh company representing the mining industry at the Prospectors & Developers Association of Canada (PDAC) conference in Toronto.[2]
In March 2023, Aurora Minerals Group entered into a partnership with MSALABS, a geochemical analytical laboratory, to set up an analytical facility in Kazakhstan.[3]
In December 2023, Aurora Minerals Group was awarded the Isker Prize by the President of Kazakhstan in recognition of their commitment to quality.[4]
Subsidiaries
[edit]The company's subsidiaries include Nova Drilling, specializing in vertical and horizontal well core drilling, Aurora Quest Services Ltd., focusing on diamond core, RC, geothermal, and water well drilling, and Aurora Geophysics Ltd, performing ground and airborne surveys of various scales.[5]
Allegations
[edit]Aurora Minerals Group has faced allegations of investor fund diversion. The company's founders face allegations of embezzling investor funds and using government influence to pressure investors to exit the country.[1] These claims have contributed to discussions regarding the challenges junior mining companies face in Kazakhstan. Transparency and regulatory efficiency within the Kazakh mining sector have been cited as potential areas of concern.[6][7]
According to various news reports, it is purportedly under the control of Russian investors. When speaking to Newsweek, the company denied these allegations.[8]
The Daily Express reported it to be not licensed as a mining operator but rather a service and consultancy provider in mining operations.[9]
See also
[edit]
- Mineral industry of Kazakhstan
- Uranium mining in Kazakhstan
- Ministry of Ecology, Geology and Natural Resources (Kazakhstan)
References
[edit]- ^ a b McLaren, David (2024-03-01). "Challenges and Complexities in Kazakhstan's Mining Sector". IBTimes Singapore.
- ^ "Цель – месторождения и рынки (ТОО "Aurora Minerals Group")" (in Russian). MetalMiningInfo. 2018-04-20.
- ^ "Aurora and MSALABS sign an agreement to establish an analytical laboratory in Kazakhstan". Minexasia. 2023-03-15.
- ^ "Aurora Minerals Group received the "Isker" Award". Aurora. 2023-12-12.
- ^ "Group of companies". Aurora.
- ^ Adel, Ahmed (2024-03-02). "Corruption in Kazakhstan's mining sector affects Russia's interests". Weekly Blitz.
- ^ Auge, Louis (2024-03-27). "Aurora Minerals Group entangled in State corruption". EU Reporter.
- ^ "Russia and China Tighten Grip on Global Nuclear Energy Supply". Newsweek. 2024-05-24.
- ^ Giannangeli, Marco (2024-05-20). "Russia is turning Western sanctions into "Swiss cheese" with Kazakh uranium deals". Daily Express.