-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000899140-07-000315.txt : 20070214
<SEC-HEADER>0000899140-07-000315.hdr.sgml : 20070214
<ACCEPTANCE-DATETIME>20070214115442
ACCESSION NUMBER:		0000899140-07-000315
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20070214
DATE AS OF CHANGE:		20070214
GROUP MEMBERS:		PAUL TOURADJI
GROUP MEMBERS:		TOURADJI GLOBAL RESOURCES MASTER FUND, LTD.

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BMB MUNAI INC
		CENTRAL INDEX KEY:			0000924805
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				300233726
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-51933
		FILM NUMBER:		07616072

	BUSINESS ADDRESS:	
		STREET 1:		C/O POULTON & YORDAN
		STREET 2:		324 SOUTH 400 WEST SUITE 250
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84101
		BUSINESS PHONE:		801-355-2227

	MAIL ADDRESS:	
		STREET 1:		C/O POULTON & YORDAN
		STREET 2:		324 SOUTH 400 WEST SUITE 250
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERUNION FINANCIAL CORP
		DATE OF NAME CHANGE:	19960719

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TOURADJI CAPITAL MANAGEMENT, LP
		CENTRAL INDEX KEY:			0001336657
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		101 PARK AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10178
		BUSINESS PHONE:		212-984-8899

	MAIL ADDRESS:	
		STREET 1:		101 PARK AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10178
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>b3599614b.txt
<TEXT>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G
                                (Amendment No. 1)

                   Under the Securities Exchange Act of 1934*

                                 BMB Munai, Inc.
                                 ---------------
                                (Name of Issuer)

                         Common Stock, $0.001 par value
                         ------------------------------
                         (Title of Class of Securities)

                                    09656A105
                                    ---------
                                 (CUSIP Number)


                                December 31, 2006
                                -----------------
                      (Date of Event which Requires Filing
                               of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

            [ ]     Rule 13d-1(b)
            [X]     Rule 13d-1(c)
            [ ]     Rule 13d-1(d)


*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


<PAGE>


- -------------------                                            -----------------
CUSIP No. 09656A105                    13G                     Page 2 of 8 Pages
- -------------------                                            -----------------
- ---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Touradji Capital Management, LP
- ---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
- ---------- ---------------------------------------------------------------------
        3  SEC USE ONLY

- ---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
- --------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
NUMBER OF             ----- ----------------------------------------------------
SHARES                   6  SHARED VOTING POWER
BENEFICIALLY
OWNED                       2,266,365
BY                    ----- ----------------------------------------------------
EACH                     7  SOLE DISPOSITIVE POWER
REPORTING
PERSON                      0
WITH                  ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            2,266,365
- ---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           2,266,365
- ---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
- ---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.2%
- ---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           IA, PN
- ---------- ---------------------------------------------------------------------


                                     -2-


<PAGE>


- -------------------                                            -----------------
CUSIP No. 09656A105                    13G                     Page 3 of 8 Pages
- -------------------                                            -----------------
- ---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Touradji Global Resources Master Fund, Ltd.
- ---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
- ---------- ---------------------------------------------------------------------
        3  SEC USE ONLY

- ---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Cayman Islands
- --------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
NUMBER OF             ----- ----------------------------------------------------
SHARES                   6  SHARED VOTING POWER
BENEFICIALLY
OWNED                       1,816,793
BY                    ----- ----------------------------------------------------
EACH                     7  SOLE DISPOSITIVE POWER
REPORTING
PERSON                      0
WITH                  ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,816,793
- ---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,816,793
- ---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
- ---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           4.2%
- ---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           CO
- ---------- ---------------------------------------------------------------------


                                     -3-


<PAGE>


- -------------------                                            -----------------
CUSIP No. 09656A105                    13G                     Page 4 of 8 Pages
- -------------------                                            -----------------
- ---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Paul Touradji
- ---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
- ---------- ---------------------------------------------------------------------
        3  SEC USE ONLY

- ---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
- --------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
NUMBER OF             ----- ----------------------------------------------------
SHARES                   6  SHARED VOTING POWER
BENEFICIALLY
OWNED                       2,266,365
BY                    ----- ----------------------------------------------------
EACH                     7  SOLE DISPOSITIVE POWER
REPORTING
PERSON                      0
WITH                  ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            2,266,365
- ---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           2,266,365
- ---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
- ---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.2%
- ---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           IN
- ---------- ---------------------------------------------------------------------
                      *SEE INSTRUCTION BEFORE FILLING OUT


                                     -4-


<PAGE>


This Amendment No. 1 to the Schedule 13G (this "Amendment No. 1") is being filed
with respect to the Common Stock of BMB Munai, Inc., a company organized under
the laws of Nevada (the "Company"), to amend the Schedule 13G filed on April 3,
2006 (the "Schedule 13G"). This Amendment No. 1 is being filed in connection
with the annual requirement to report changes in beneficial ownership not
otherwise reported. Further, this Amendment No. 1 reports beneficial ownership
of less than 5% of the total outstanding Common Stock of the Company by Touradji
Global Resources Master Fund, Ltd. ("Global Resources"). Capitalized terms used
but not defined herein have the meaning ascribed thereto in the Schedule 13G.

Item 4              Ownership:
                    ---------

Item 4 of the Schedule 13G is hereby amended by the deletion of the entirety of
the text thereof and its replacement with the following:

The beneficial ownership of Common Stock by the Reporting Persons, as of the
date hereof, is as follows:

                    A. Touradji Capital Management, LP
                       -------------------------------

                    (a) Amount beneficially owned: 2,266,365 shares of Common
                    Stock as of December 31, 2006.

                    (b) Percent of Class: 5.2%. The percentages used herein and
                    in the rest of this Amendment No. 1 are calculated based on
                    a total of 43,690,652 outstanding shares of Common Stock
                    issued and outstanding as of October 27, 2006, as reported
                    in the Issuer's Report on Form 10-Q for the quarterly period
                    ended September 30, 2006.

                    (c) (i)    Sole power to vote or direct the vote: -0-
                        (ii)   Shared power to vote or direct the vote:
                               2,266,365 (iii) Sole power to dispose of or
                               direct the disposition: -0-
                        (iv)   Shared power to dispose of or direct the
                               disposition of: 2,266,365

                    B. Touradji Global Resources Master Fund, Ltd.
                       -------------------------------------------

                    (a) Amount beneficially owned: 1,816,793 shares of Common
                    Stock as of December 31, 2006.

                    (b) Percent of Class: 4.2%.

                    (c) (i)    Sole power to vote or direct the vote: -0-
                        (ii)   Shared power to vote or direct the vote:
                               1,816,793
                        (iii)  Sole power to dispose of or direct the
                               disposition: -0-
                        (iv)   Shared power to dispose of or direct the
                               disposition of: 1,816,793


                                      -5-


<PAGE>


                    C. Paul Touradji
                       -------------

                    (a) Amount beneficially owned: 2,266,365 shares of Common
                    Stock as of December 31, 2006.

                    (b) Percent of Class: 5.2%.

                    (c) (i)    Sole power to vote or direct the vote: -0-
                        (ii)   Shared power to vote or direct the vote:
                               2,266,365
                        (iii)  Sole power to dispose of or direct the
                               disposition: -0-
                        (iv)   Shared power to dispose of or direct the
                               disposition of: 2,266,365

Item 5              Ownership of Five Percent or Less of a Class:
                    --------------------------------------------

                    If this statement is being filed to report the fact that as
                    of the date hereof the reporting person has ceased to be the
                    beneficial owner of more than five percent of the class of
                    securities, check the following: [X]

                    Global Resources no longer holds Common Stock in excess of
                    5% and thus is no longer a Reporting Person. However,
                    Touradji Capital Management, LP and Paul Touradji continue
                    to be Reporting Persons.

Item 10             Certification:
                    -------------

                    Each of the Reporting Persons hereby makes the following
                    certification:

                    By signing below I certify that, to the best of my knowledge
                    and belief, the securities referred to above were not
                    acquired and are not held for the purpose of or with the
                    effect of changing or influencing the control of the issuer
                    of the securities and were not acquired and are not held in
                    connection with or as a participant in any transaction
                    having that purpose or effect.


              [THE REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK]


                                      -6-


<PAGE>


                                    SIGNATURE
                                    ---------

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Dated:  February 14, 2007


                              TOURADJI CAPITAL MANAGEMENT, LP
                              By: Touradji Capital GP, LLC, its general partner

                              By: Paul Touradji, Managing Member

                              By:  /s/ Thomas S. Dwan
                                   ---------------------------------------------
                                   Name:   Thomas S. Dwan
                                   Title:  Attorney-in-fact



                              TOURADJI GLOBAL RESOURCES MASTER FUND, LTD.

                              By: Paul Touradji, Director

                              By:  /s/ Thomas S. Dwan
                                   ---------------------------------------------
                                   Name:   Thomas S. Dwan
                                   Title:  Attorney-in-fact



                              PAUL TOURADJI


                              By:  /s/ Thomas S. Dwan
                                   ---------------------------------------------
                                   Name:   Thomas S. Dwan
                                   Title:  Attorney-in-fact


               [SIGNATURE PAGE TO AMENDMENT NO. 1 TO SCHEDULE 13G
                                 WITH RESPECT TO
                                BMB MUNAI, INC.]


                                      -7-


<PAGE>


                                  EXHIBIT INDEX
                                  -------------

Exhibit 99.1:  Joint Filing Agreement, dated February  14, 2007, by and among
               Touradji Capital Management, LP, Touradji Global Resources Master
               Fund, Ltd. and Mr. Paul Touradji.


                                      -8-

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>b3599614c.txt
<DESCRIPTION>JOINT FILING AGREEMENT
<TEXT>

                                                                    Exhibit 99.1
                                                                    ------------
                             JOINT FILING AGREEMENT
                             ----------------------
                          PURSUANT TO RULE 13d-1(k)(1)
                          ----------------------------

The undersigned acknowledge and agree that the foregoing amended statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
filing agreements. The undersigned acknowledge that each shall be responsible
for the timely filing of such amendments, and for the completeness and accuracy
of the information concerning it contained therein, but shall not be responsible
for the completeness and accuracy of the information concerning the others,
except to the extent that it knows or has reason to believe that such
information is inaccurate. This Agreement may be executed in any number of
counterparts and all of such counterparts taken together shall constitute one
and the same instrument.

Dated: February  14, 2007

                              TOURADJI CAPITAL MANAGEMENT, LP
                              By: Touradji Capital GP, LLC, its general partner

                              By: Paul Touradji, Managing Member

                              By:  /s/ Thomas S. Dwan
                                   ---------------------------------------------
                                   Name:   Thomas S. Dwan
                                   Title:  Attorney-in-fact



                              TOURADJI GLOBAL RESOURCES MASTER FUND, LTD.

                              By: Paul Touradji, Director

                              By:  /s/ Thomas S. Dwan
                                   ---------------------------------------------
                                   Name:   Thomas S. Dwan
                                   Title:  Attorney-in-fact



                              PAUL TOURADJI


                              By:  /s/ Thomas S. Dwan
                                   ---------------------------------------------
                                   Name:   Thomas S. Dwan
                                   Title:  Attorney-in-fact

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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