An investment and management company with exclusive focus on the mining sector in Kazakhstan and Central Asia.
We offer unique access to the best assets and high quality of management.
We invest in mining projects with the highest potential and developing advanced enterprises on that basis
We build strong, trusting, long-term relationships with our partners, based on deep technical knowledge, professionalism and transparency in everything we do
Resources Capital Group (RCG) was established in March 2012 by a team of experienced mining and investment professionals.
RCG delivers investment returns to investors by way of a rigorous investment process targeting the best reserves, professional project and technical management up to the production start-up phase, arranging financing (equity and debt) and exit.
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2012
Establishment of Resources Capital Group
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2013
Almaly deposit (Cu): acquisition of exploration contract
Maksut deposit (Cu-Ni): purchase of deposit
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2014
Takyr (Au) deposit: acquisition of exploration contract
Zhannet (Mo) deposit: pre-investment assessment
Kurumsak (Wa) deposit: pre-investment assessment
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2015
Almaly deposit (Cu): construction and commissioning of processing plant
Maksut deposit (Cu-Ni): IPO of the first junior mining company on KASE
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2016
Almaly deposit (Cu): sale to a strategic investor
Berkara (Cu) deposit: acquisition of exploration contract
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2017
Maksut deposit: Launch of MPP
Maksut deposit: SPO on SPBEX
Alexandrovskoye (Cu-Zn) deposit: acquisition of an exploration contract
Samarskoye (Coal) deposit: acquisition of a production contract
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2017-2019
Maksut (Cu-Ni) deposit: sale to a strategic investor
Chumek (Fe) deposit: purchase of an exploration contract
Berkarinskoye (Cu) deposit: arranging bank loan
Saran deposit (WO3): acquisition of an exploration contract
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2020
Alexandrovskoye deposit: arranging bank loan
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2021
Berkara (Cu) deposit: start of construction of extraction and electro-winning plant (SX-EW)
Kuzhal (Pb-Zn) deposit: acquisition of interest in company
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2022
Samara deposit: PFS preparation
Akmaya deposit (WO3): acquisition of an interest in company
Kiikbay (Au) deposit: acquisition of an interest in company
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2023
Akmaya deposit (WO3): Scoping Study Completed
Berkara (Cu) deposit: Commissioning of SX-EW Plant
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2024
Akmaya Deposit (WO3): PFS Completed
Saran Deposit (WO3): PFS Completed
Samarskoye Deposit: PFS Completed
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2025
Akmaya Deposit: Feasibility Study in Progress
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Years
13 of experience
More than 13 years in the mining industry in Kazakhstanof experience
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investments
11 projects
11 projects in the mining industryprojects
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assessed
300+ projects
in Kazakhstan and CIS countriesprojects
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under management
Projects with total investments over $500m $500 mlnmln
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new jobs created
1500 over 1500 new jobs created
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built and commissioned
3
facilities built and commissioned with our participation -
expertise in over
25
minerals (ferrous, non-ferrous, precious and other metals) -
projects being managed
12
mining projects being managed
Structured investment assessment process and clear decision-making procedures
Deep technical competence of the Investment team
Access to a wide range of assets, geological information in the region
WIDE RANGE OF FUNCTIONS AND IN-DEPTH EXPERTISE
Clear processes and international standards for management of mining projects
High concentration of competence, knowledge and talent
Deep integration into the mining community across the region
Our mission: Create market-leading businesses by creatively realizing potential of each project
Our values:
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RESULTS ORIENTATION
RESULTS ORIENTATION
Not only we achieve success in individual areas of the company, but first and foremost the success of the entire team and the Company,
We do not let difficulties get in our way; we set clear goals and achieve them
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Team
workTeam work
We support each other in the desire to develop and fully unleash our potential
We value mutual commitment, collaboration and the achievement of common results
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HIGH QUALITY STANDARDS
HIGH QUALITY STANDARDS
We strive for excellence and professionalism in everything we do,
We invest in the continuous development of competences and internal standards
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SUSTAINABLE
DEVELOPMENTSUSTAINABLE DEVELOPMENT
We respect the environment and are responsible for the social development of the regions in which we operate
Our advantages:
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IN-DEPTH TECHNICAL EXPERTISE
IN-DEPTH TECHNICAL EXPERTISE
RCG's team consists of 55 highly skilled professionals in exploration and mining geology, geological modelling and mineral resource estimation, mining engineering, processing and beneficiation, valuation and financial modelling, and integrated project management.
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COMPETENCES BASED ON PRACTICAL EXPERIENCE
COMPETENCES BASED ON PRACTICAL EXPERIENCE
As a management company, RCG provides comprehensive management from the sourcing / analysis phase through to project launch:
comprehensive technical / investment analyses of projects; elaboration of project development strategy; organising and coordinating the implementation of the project development strategy; development of digital models, block models, quarry models, preparation of financial and economic reports, feasibility studies, pre-feasibility studies, etc. Recruitment and creation of the project and operational team, fundraising
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APPROACHES BASED ON INTERNATIONAL BEST PRACTICES
APPROACHES BASED ON INTERNATIONAL BEST PRACTICES
To maximise investment returns, we implement an approach to the search and review of potential projects and the development of portfolio projects based on comprehensive and systematic processes, high international standards, and advanced industry software solutions.
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HIGH INTERNAL STANDARDS OF PROJECT MANAGEMENT
HIGH INTERNAL STANDARDS OF PROJECT MANAGEMENT
RCG's project management standards, knowledge and accumulated experience enable RCG to embark on a promising project at any stage, from building a strong and motivated team for each project, through field and desktop work, engineering design and production start-up
Our Team works within an internal project management standard based on international best practices such as IPMA, PMI which allows a step-by-step and quality development of projects from investment concept development and implementation to detailed design and construction.
Screening;
Negotiation;
Pre-investment due diligence;
Final investment appraisal;
Closing of the transaction (transfer of the project to the portfolio of the Management company).
INVESTMENT PROCESS
Planning;
Field work;
Basic pre-project work;
Pre-design work;
CBA;
Investment decision to move to the next phase.
SCOPING
STAGE
Planning;
Fieldwork;
Pre-project work;
Pre-design work;
Pre-feasibility study;
Investment decision to move to the next stage.
PFS STADY
Planning;
Fieldwork;
Pre-design work;
Project work;
feasibility study;
Investment decision to move to the next stage.
FS STADY
Planning;
Detailed design;
Preparatory work for construction;
Construction;
Pre-commissioning;
Mining;
Plant start-up.
DETAILED DESIGN AND CONSTRUCTION
Profit
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wo
project May (FS) Source (M&I):
27,6 ths. t.. WO3
grade: WO3 - 0,25% -
pb-zn
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coal
project Sam (PFS) measured: 32,7 mln. t.
Calculated: 105,68 mln. t.
Source: 137,75 mln. t. -
wo
project Moli (PFS) Source (M&I):
26,5 ths. t.. WO3
grade: WO3 - 0.09% -
cu
project Arc (Production) Source:
Oxidized ore: 31.4 thousand tonnes of Cu. Mixed ore: 25.4 thousand tonnes of Cu. Sulfide ore: 1.4 thousand tonnes of Cu. -
fe
project Lacus (Scoping) C1+C2: 9,5 mln. t.
P1+P2: 34,8 mln. t.
Source: 44,37 mln. t. -
cu-zn
project Sanchez (PFS) C1+C2: Cu - 12,7 ths. t..; Zn - 77,2
ths. t..
P1: Cu - 4,0 ths. t..; Zn - 6,2 ths. t..
ths. t..
Source: Cu - 16,7 ths. t..; Zn
- 83,5 ths. t..
MANAGEMENT TEAM:
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Valeriy Ospanov
Managing partner
Mr. Ospanov is a professional mining engineer with almost 40 years of experience in operational and strategic management of mining projects in both the private and public sectors.
He is a co-founder of RCG.
Previous experience also includes working in various senior positions in Kazakhstan production companies and government agencies. Mr. Ospanov is a Doctor of Technical Sciences with the Kazakh National Technical University named after Satpayev.
Valeriy Ospanov
Managing partner
Mr. Ospanov is a professional mining engineer with almost 40 years of experience in operational and strategic management of mining projects in both the private and public sectors.
He is a co-founder of RCG.
Previous experience also includes working in various senior positions in Kazakhstan production companies and government agencies. Mr. Ospanov is a Doctor of Technical Sciences with the Kazakh National Technical University named after Satpayev. -
Rustem Ospanov
Managing partner
Mr. Ospanov is a co-founder of RCG. Rustem Ospanov has structured a number of acquisitions of major mining assets, arranged IPOs and raised debt and equity financing for RCG's portfolio projects.
At various times he held senior positions in RCG's exploration, construction, mining and processing portfolio business entities.
He is a graduate of Warwick Business School and Imperial Business School.
Rustem Ospanov
Managing partner
Mr. Ospanov is a co-founder of RCG. Rustem Ospanov has structured a number of acquisitions of major mining assets, arranged IPOs and raised debt and equity financing for RCG's portfolio projects.
At various times he held senior positions in RCG's exploration, construction, mining and processing portfolio business entities.
He is a graduate of Warwick Business School and Imperial Business School. -
Konstantin Pisarchuk
Strategy advisor
Mr. Pisarchuk has extensive experience in managing merger and acquisition projects in the mining and metals sector (over US$10 billion worth of closed transactions) and capital construction (he was responsible for investment budgets of over US$1 billion/year).
Konstantin Pisarchuk has over seven years of experience at international audit/consulting firms of the 'Big Four' in Moscow and New York; over ten years at Metinvest, a mining and metallurgy holding company, in the creation of which he took an active part; two years in charge of investment planning at ERG, the largest private metals and energy holding in Kazakhstan; and as Finance Director of a number of companies in Russia and the UAE.
Mr. Pisarchuk holds a number of international professional certificates from CFA, CPA, ACCA. He holds a Master of Science degree (with honors) from the Moscow Institute of Physics and Technology, and a Master of Economics degree from the University of Oregon, USA.
Konstantin Pisarchuk
Strategy advisor
Mr. Pisarchuk has extensive experience in managing merger and acquisition projects in the mining and metals sector (over US$10 billion worth of closed transactions) and capital construction (he was responsible for investment budgets of over US$1 billion/year).
Konstantin Pisarchuk has over seven years of experience at international audit/consulting firms of the 'Big Four' in Moscow and New York; over ten years at Metinvest, a mining and metallurgy holding company, in the creation of which he took an active part; two years in charge of investment planning at ERG, the largest private metals and energy holding in Kazakhstan; and as Finance Director of a number of companies in Russia and the UAE.
Mr. Pisarchuk holds a number of international professional certificates from CFA, CPA, ACCA. He holds a Master of Science degree (with honors) from the Moscow Institute of Physics and Technology, and a Master of Economics degree from the University of Oregon, USA.
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Vladimir Tsoy
Chief Legal Officer
Mr. Tsoy specializes in legal support of exploration, mining, processing, metallurgical and construction projects. He has more than 20 years of experience in the legal support of projects, including obtaining environmental permits, M&A deals, Due Diligence and S&LP. Mr. Tsoy joined the team in 2025.
Prior to that, he held key positions in large organizations, including legal support at the stages of construction and operation of mining, processing and energy complexes. He graduated from Kazakh Humanitarian Law University and is actively increasing his knowledge in the field of subsoil use, civil, environmental and labor law.
Vladimir Tsoy
Chief Legal Officer
Mr. Tsoy specializes in legal support of exploration, mining, processing, metallurgical and construction projects. He has more than 20 years of experience in the legal support of projects, including obtaining environmental permits, M&A deals, Due Diligence and S&LP. Mr. Tsoy joined the team in 2025.
Prior to that, he held key positions in large organizations, including legal support at the stages of construction and operation of mining, processing and energy complexes. He graduated from Kazakh Humanitarian Law University and is actively increasing his knowledge in the field of subsoil use, civil, environmental and labor law.
MANAGEMENT TEAM:
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Alexander Sinyukov
Chief Geologist
Mr. Sinyukov is a geology and exploration professional with over 10 years of experience in geological surveying and mineral exploration. Throughout his career, he has participated in the development and implementation of numerous exploration projects covering the full project lifecycle — from early-stage exploration and resource appraisal to project support during the preparation for mine development.
He has extensive experience in the evaluation of exploration and mining assets as part of Due Diligence procedures, including the assessment of resource base, data quality, geological risks, and the economic fundamentals of projects.
Mr. Sinyukov is a graduate of Abylkas Saginov Karaganda State Technical University.
Alexander Sinyukov
Chief Geologist
Mr. Sinyukov is a geology and exploration professional with over 10 years of experience in geological surveying and mineral exploration. Throughout his career, he has participated in the development and implementation of numerous exploration projects covering the full project lifecycle — from early-stage exploration and resource appraisal to project support during the preparation for mine development.
He has extensive experience in the evaluation of exploration and mining assets as part of Due Diligence procedures, including the assessment of resource base, data quality, geological risks, and the economic fundamentals of projects.
Mr. Sinyukov is a graduate of Abylkas Saginov Karaganda State Technical University.
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Nadezhda Borodacheva
Vice President
Ms. Borodacheva has over 10 years of experience in international consulting firms (WhiteHill Capital, Deloitte), specializing in corporate finance, business valuation and financial modeling, pre-IPO due diligence, and M&A transaction advisory.
In addition, she has more than 7 years of experience in the banking sector, including at the Eurasian Development Bank, working with large and mid-sized companies across industries such as industrial manufacturing, consumer goods production, telecommunications, agriculture, retail, and logistics.
Ms. Borodacheva is a graduate of KIMEP University and Al-Farabi Kazakh National University.
Nadezhda Borodacheva
Vice President
Ms. Borodacheva has over 10 years of experience in international consulting firms (WhiteHill Capital, Deloitte), specializing in corporate finance, business valuation and financial modeling, pre-IPO due diligence, and M&A transaction advisory.
In addition, she has more than 7 years of experience in the banking sector, including at the Eurasian Development Bank, working with large and mid-sized companies across industries such as industrial manufacturing, consumer goods production, telecommunications, agriculture, retail, and logistics.
Ms. Borodacheva is a graduate of KIMEP University and Al-Farabi Kazakh National University.
At RCG, we are developing a long-term career by investing in You. We created an environment that nurtures your professional development and self-realization. We believe that your success is the success of the company.
OPPORTUNITIES FOR GROWTH:
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Management:
Senior Project Manager
Project Manager
Project coordinator
Project administrator
Investment:
Investment Manager
Investment analyst
Legal support:
Project lawyer
Senior lawyer
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Financial support:
Project accountant
Accountant
HR and administrative support:
HR Manager,
Recruiter,
Administrative Manager
RCG would like to thank you for your interest in our company
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RESOURCES CAPITAL GROUPRepublic of Kazakhstan, Almaty, 210 Dostyk avenue, Koktem-Grand Business Center, 13th floor
Phone: +7 727 330 98 91
e-mail: info@rcg-ia.com