Kazakhstan has announced it is instituting a new mining code modelled on Australia, Canadian, Finnish, and Chilean principles for exploration and operation.
The first ex-Soviet state to bring in such laws, the country’s government stated that it is part of a push to drive mining investment in the country.
A major part of the new mining code is its clear differentiation between oil and gas and mining, which its previous resources code did not cover.
More than “180 regulatory amendments will be made in the ‘Code of the Republic of Kazakhstan on Subsoil Use’,” according to its vice-minister of industry and new technologies, Nurlan Sauranbayev.
The ministry stated that these changes in legislation are focused on simplifying existing procedures for granting mineral and metal exploration rights, and to attract investment into the sector.
As part of this drive a new Geological Exploration Centre will be built to provide infrastructure and technical facilities for geological and geochemical research.
“The creation of the Centre is expected to significantly reduce the costs of exploration as sample analyses will be carried out locally instead of shipping overseas,” the government stated.