Kazakhstan's Advance Mining Technology, controlled by the American Kapelson family, has published its financial report for 2025. This was reported by Qazaqyia.kz citing Kursiv Media.

Back in 2024, the company held public hearings. According to the documentation presented then, it intended to build a processing plant and process copper ore from the Sayak group of deposits starting in 2026.

According to the latest report, the company reduced its net loss to 212.6 million tenge in 2025, compared to 1.42 billion tenge a year earlier. Thus, its negative financial result decreased almost 6.7 times.

The company had no revenue from sales of products and services in 2025. Administrative expenses amounted to 235.2 million tenge versus 230 million tenge a year earlier.

The financial result was affected by other operating income, which reached 304.2 million tenge. For comparison: in 2024, the company reported expenses of 935 million tenge under this item.

At the same time, financing costs increased from 250.9 million to 281.6 million tenge. Financing income remained at 15 thousand tenge.

Advance Mining Technology is registered in Almaty and is engaged in a project for processing technogenic mineral formations. According to the charter, the company plans to build and operate a production complex for processing technogenic mineral waste, produce cathode copper and other minerals from such raw materials, sell products, and conduct investment activities.

The company also has a license from the Ministry of Internal Affairs of Kazakhstan for activities related to the circulation of precursors. The license expires on November 16, 2026. In addition, Advance Mining Technology leases seven land plots in the area of the Sayak village in the Karaganda region.

Most of the company's land assets are related to the extraction and processing of technogenic mineral formations. One of them, with an area of 2.5 hectares, is intended for the construction of a pilot plant for copper extraction at the Sayak mine. Another plot of 17 hectares is used for water intake facilities at the Sayak-1 deposit. The company also leases two large plots of 194 and 186 hectares for mining minerals from technogenic mineral formations of the Sayak group at the Tastau site.

In addition, a plot of 30.1 hectares is leased for the construction of a hydrometallurgical plant for the production of cathode copper near the Sayak mine. Two more plots of 68.1 and 42.5 hectares are used for mining and servicing facilities at the Sayak-1 site.

The Committee of Geology and Subsoil Use also granted the company a mining allotment for mining minerals from technogenic mineral formations of the Sayak mine. The basis was a decision of the competent authority, formalized by protocol of direct negotiations No. 54 dated December 20, 2016.

On May 22, 2017, the Ministry of Investment and Development issued the company contract No. 5089-TPI for mining minerals from technogenic mineral formations of the Sayak group, including the Sayak-1, Sayak-2, Sayak-3, Tastau, and Moldybai sites. The contract term is 23 years.

As of the end of 2025, the largest participant in the company remained Singapore's First Eurasian Mining LP with a 60% stake. Another 27% belongs to Kazakhstan's Sinco Capital KZ. Among individuals, co-owners are Arai Yerkinuly (7%), Zharas Baiterikov (4%), and Kerei Omarov (2%).

The report reveals that First Eurasian Mining LP's participant with a 90.91% stake is Commonwealth American Partners LP. The ultimate controlling party for Advance Mining Technology is the Kapelson family from the United States. These include Denis Kapelson, Andrei Kapelson, Maya Kapelson, Elena Kapelson, and Alexander Kapelson. Each of them holds either 19.25% or 23% participation in the ownership structure.

Earlier, Kursiv wrote that the new company of the Makhmudov millionaires showed a profit in just a month and a half.