31 may
Despite the pandemic, more than 500 domestic companies have appeared in the mining industry of the republic, which once again confirms the attractiveness of this area for investors, said Ruslan Baymishev, Vice Minister of Industry and Infrastructure Development of Kazakhstan. reports inbusiness.kz.
It is well known that the bowels of the republic contain the entire periodic table, and the wealth hidden in them should be extracted so that the profit from their sale can be directed to the further restoration of the Kazakh economy, which is especially important in the current conditions. The Government of Kazakhstan is once again taking steps to facilitate the entry of large players into this industry – mining companies from the UK, Australia, Canada and other countries. "Together with them, new competencies, the best world practices of the mining industry, increased competition, improvement of the investment image of the country will come to us," said Ruslan Baymishev, Vice Minister of Industry and Infrastructure Development of Kazakhstan. He noted that the measures already taken earlier had an instant effect on the market of geology and subsoil use. According to him, even during the pandemic, more than 500 domestic junior companies have been formed in the industry, investments in geological exploration have increased significantly. The impetus was the new Code on the Subsoil.
"Since the adoption of this document, more than 1,600 exploration licenses have been issued, the volume of investment commitments for new exploration facilities has exceeded all expectations. But most importantly, 75 thousand square kilometers of new territories were involved in geological exploration. All this was impossible under the previous regulatory system," the Vice Minister said.
He listed what other steps will be taken in Kazakhstan to stimulate geological exploration and the mining industry. Firstly, the entire territory of the country accessible for subsurface use will be opened. We are talking about the inclusion in the “State Subsoil Fund Management Program” of all contoured deposits, as well as the remaining blocks for exploration of solid minerals. At the same time, the Vice Minister admitted that the development of the information system “National Data Bank of Mineral Resources” is delayed, although for objective reasons. However, he did not go into details. "In order to attract domestic and foreign companies to this sector, the auction dates that expire this year will be extended," the Vice Minister continued to list.
As for other steps to revive the mining industry, the Ministry is currently working on the issue of an accelerated transition to the production stage. Another important measure is the revision of all deposits of solid minerals. The authorities no longer stand on ceremony with unscrupulous subsoil users. Thus, according to the Vice Minister, 31 contracts have been terminated and three licenses have been revoked since the beginning of the year alone. According to the Ministry, 1,720 licenses for subsurface use of solid minerals have been issued today, 1,688 of them for exploration, 32 for extraction, 520 contracts for solid minerals are in effect. According to him, work continues on the creation of the national geological service, which will be designed to meet the needs of investors in geological information and geological data. The Vice Minister promised that the department will gradually switch to new management principles focused on transparency and predictability of decisions.