MINEX Forum

Month: February 2024

  • Казахстан предоставит переработчикам твердых полезных ископаемых налоговые льготы

    Казахстан предоставит переработчикам твердых полезных ископаемых налоговые льготы

    Правительство своим постановлением уполномочит министра промышленности и строительства подписывать соглашение о переработке твердых полезных ископаемых, по которому инвестору будут предоставляться налоговые льготы.

    «В соответствии со статьей 243 Кодекса Республики Казахстан «О недрах и недропользовании» правительство Республики Казахстан постановляет: 1. Утвердить прилагаемый проект соглашения о переработке твердых полезных ископаемых согласно приложению к настоящему постановлению. 2. Уполномочить министра промышленности и строительства Республики Казахстан (Каната Шарлапаева. – «Курсив») подписать соглашение о переработке твердых полезных ископаемых», – говорится в проекте постановления правительства, опубликованном для обсуждения.

    Для получения преференций объем инвестиций недропользователя в проект переработки твердых полезных ископаемых должен составлять не менее 70 млн месячных расчетных показателей, или 258,44 млрд тенге на 2024 год.

    Проектом переработки твердых полезных ископаемых будет считаться комплекс мероприятий по созданию новых, расширению или модернизации действующих производств по переработке твердых полезных ископаемых. Инвестициями в проект переработки будут считаться все виды имущества (кроме товаров, предназначенных для личного потребления), включая предметы финансового лизинга со дня договора лизинга, а также права на них, вкладываемые инвестором в уставный капитал инвестора или увеличение фиксированных активов, используемых для предпринимательской деятельности.

    После подписания соглашения о переработке твердых полезных ископаемых инвестору представляются следующие виды преференций: уменьшение корпоративного подоходного налога на 100% по доходам от реализации инвестиционного проекта; применение коэффициента 0 при исчислении земельного налога по земельным участкам, используемым для реализации инвестиционного проекта; применение ставки 0 процента к налоговой базе при исчислении налога на имущество по объектам, используемым для реализации инвестиционного проекта.

    Льгота по КПН и земельному налогу предоставляется на срок до 10 лет, по налогу на имущество – до восьми лет, если уровень внутренней нормы рентабельности по месторождению не превышает 15%. По достижении указанной нормы рентабельности предприятие будет платить налоги в общеустановленном порядке, то есть уже без льгот. Однако при снижении нормы рентабельности ниже 15% налогоплательщик будет вновь иметь право воспользоваться льготами.

    При досрочном прекращении соглашения инвестор должен будет уплатить налоги и таможенные пошлины и/или другие льготы, предоставленные в рамках соглашения. Постановление вводится в действие по истечении 10 календарных дней после дня его первого официального опубликования. Публичное обсуждение документа продлится до 26 февраля.

  • Kazakhstan will provide tax benefits to processors of solid minerals

    Kazakhstan will provide tax benefits to processors of solid minerals

    The government, by its resolution, will authorize the Minister of Industry and Construction to sign an agreement on the processing of solid minerals, under which the investor will be provided with tax benefits.

    “In accordance with Article 243 of the Code of the Republic of Kazakhstan “On Subsoil and Subsoil Use,” the Government of the Republic of Kazakhstan decides: 1. To approve the attached draft agreement on the processing of solid minerals in accordance with the appendix to this resolution. 2. Authorize the Minister of Industry and Construction of the Republic of Kazakhstan (Kanat Sharlapaev – “Italics”) to sign an agreement on the processing of solid minerals,” says the draft government resolution published for discussion.

    To receive preferences, the volume of investments of the subsoil user in the solid minerals processing project must be at least 70 million monthly calculation indicators, or 258.44 billion tenge for 2024.

    A project for processing solid minerals will be considered a set of measures to create new, expand or modernize existing production facilities for processing solid minerals. Investments in the processing project will be considered all types of property (except for goods intended for personal consumption), including items of financial leasing from the date of the leasing agreement, as well as the rights to them invested by the investor in the authorized capital of the investor or an increase in fixed assets used for business activities.

    After signing an agreement on the processing of solid minerals, the investor is presented with the following types of preferences: a reduction in corporate income tax by 100% on income from the implementation of an investment project; application of coefficient 0 when calculating land tax on land plots used for the implementation of an investment project; application of a 0 percent rate to the tax base when calculating property tax on objects used for the implementation of an investment project.

    Benefits for CIT and land tax are provided for a period of up to 10 years, for property tax – up to eight years, if the level of internal rate of return for the field does not exceed 15%. Upon reaching the specified rate of profitability, the enterprise will pay taxes in the generally established manner, that is, without benefits. However, if the rate of return decreases below 15%, the taxpayer will again have the right to take advantage of the benefits.

    Upon early termination of the agreement, the investor will be required to pay taxes and customs duties and/or other benefits provided under the agreement. The resolution comes into force 10 calendar days after the day of its first official publication. Public discussion of the document will last until February 26.

  • This disused mine in Finland is being turned into a gravity battery to store renewable energy

    This disused mine in Finland is being turned into a gravity battery to store renewable energy

    One of Europe’s deepest mines is being transformed into an underground energy store. It will use gravity to retain excess power for when it is needed.

    The remote Finnish community of Pyhäjärvi is 450 kilometres north of Helsinki. Its more than 1,400-metre-deep zinc and copper Pyhäsalmi mine was decommissioned but is now being given a new lease of life by Scotland-based company Gravitricity.

    The firm has developed an energy storage system that raises and lowers weights, offering what it says are “some of the best characteristics of lithium-ion batteries and pumped hydro storage”.

    How does the gravity battery work?

    When there is excess power – from wind turbines on a windy day for example – weights would be winched up the Pyhäsalmi mine’s 530-metre auxiliary shaft. To generate energy these weights can be released. This turns the winches into generators, creating either a short burst of electricity or a slower trickle depending on what is needed.

    The gravity energy system would be able to store 2MW of power and integrate into the local energy grid.

    A study published by a team of international researchers last month found that gravity batteries in decommissioned mines could offer a cost-effective, long-term solution for storing energy as the world transitions to renewable power.

    Scientists from the International Institute for Applied Systems Analysis (IIASA) found that the world’s abandoned mine shafts could store up to 70TWh of power – roughly the equivalent of global daily electricity consumption.

    Bringing ‘low carbon’ jobs to a mining community

    The local community in Pyhäjärvi has set up a development company to promote regeneration at the old mine. It has just signed an agreement with Gravitricity to transform the old mine shaft into the first full-scale prototype of the company’s technology.

    They “anticipate this could become Europe’s first Gravistore deployment”, according to the company.

    “This project will demonstrate at full scale how our technology can offer reliable long-life energy storage that can capture and store energy during periods of low demand and release it rapidly when required,” Gravitricity’s executive chairman Martin Wright said.

    “This full-scale project will provide a pathway to other commercial projects and allow our solution to be embedded into mine decommissioning activities, offering a potential future for mines approaching the end of their original service life.”

    Wright also adds that the project will hopefully provide “low carbon jobs” in an area suffering significantly from the end of mining operations.

    The mine was opened in 1962, extracting more than 60 million tonnes of ore over its lifetime. Once a major employer in the region, it closed in August 2022 leaving many unemployed.

    The gravity battery is one of several community-driven projects at the mine aimed at breathing new life into the area. It includes a solar farm, tech startups and an underground 5G network.

  • Over €4 billion secured for European battery production

    Over €4 billion secured for European battery production

    ACC has taken out a loan of 4.4 billion euros, increasing the funding for the construction of three gigafactories for lithium-ion battery cell production in France, Germany, and Italy, and for R&D. Shareholders Stellantis, Total, and Mercedes-Benz will also inject additional capital, leading to a change in ownership structure. 

    Automotive Cells Company says the €4.4 billion secured is “one of Europe’s largest-ever debt raisings in this industry” to develop four “blocks of production” in addition to the one in operation in Billy-Berclau/Douvrin in France. ACC will reportedly build a second block in Douvrin and plans another in the German town of Kaiserslautern and another in Italy in Termoli.

    By 2030, the joint venture of Stellantis, Total, and, since September 2021, Mercedes-Benz will aim for total battery cell capacities of at least 120 GWh. The Termoli plant will have a capacity of 40 GWh, while ACC is working towards upgrading the French and German sites to 40 GWh each to complete the bill.

    The current production capacity at Douvrin is set at more than 13 GWh per year and is due to be completed by the end of 2024. With five of these blocks, ACC would have an annual capacity of 65 GWh; thus the previously announced expansion with additional production blocks.

    The debt package will contribute to financing these capacities and is fully underwritten by a consortium of commercial banks, BNP Paribas, Deutsche Bank, ING, Intesa Sanpaolo, and supported by Bpifrance, Euler Hermes, and SACE.

    Stellantis, Mercedes-Benz and Total subsidiary Saft also participated in a capital increase (of undisclosed value). By the end of March 2024 and with the subsequent capital injection, Stellantis will own 45% of ACC’s shares, Mercedes-Benz 30% and Saft 25%.

    Both carmakers behold, this confirmed their “commitment as leading shareholders and customers of ACC’s battery modules”. Saft will continue working with ACC as a long-term shareholder and for technological know-how.

    Commenting on the loan, Yann Vincent, CEO of ACC, said this was “clear evidence of the confidence that is placed in the ACC project. Beyond this operation, we will determine our needs as and when we conclude additional contracts.”

    ACC was created by Total and Stellantis in 2020, with Mercedes joining one year later. Apart from the Gigafactory in France, ACC also runs an R&D center operational since 2020 in Bruges, near Bordeaux, and an Industrial Excellence Center in Nersac, in the New Aquitaine region. The company employs more than 1,500 people in France, Germany, and Italy. It also has received support from all three states and the European Union.

  • Congo’s Gecamines offers to buy some of Khazakh miner ERG’s copper assets

    Congo’s Gecamines offers to buy some of Khazakh miner ERG’s copper assets

    Congo State miner Gecamines said it has made a firm proposal to buy some of Eurasian Resources Group’s copper and cobalt assets in the country in a bid to claw back projects owned by partners and build reserves in metals key to the green transition.

    The Democratic Republic of Congo’s mining unit wants to buy three of the Khazakh miner’s assets in the country and has funds to finance the purchase, Robert Lukama, the chairperson of Gecamines told Reuters.

    Lukama declined to name the projects or mines Gecamines wants to buy but said the company is targeting three of ERG’s several assets in the world’s top cobalt supplier.

    ERG didn’t immediately respond to emailed questions.

    “We have a firm proposal and we can confirm our proposal,” Lukama said in an interview. “We showed our seriousness and we showed that we have the means to buy the assets.”

    Luxembourg-based ERG is 40% owned by the Kazakhstan government and its assets in Congo include Frontier mine, Comide, Metalkol, Boss Mining and some development and near-production assets.

    Gecamines, which ranked among the world’s top copper producers in the 1980s, is pushing for a bigger role in production and supply of critical minerals. Last year the state miner said it was leveraging its shareholding in joint ventures to secure rights to buy and trade in copper and cobalt.

    Gecamines’ offer is not conditional on the level of development or state assets are in and the miner is working hard to find common ground with ERG, Lukama said.

    “We made an offer to buy some assets of ERG in good shape or not, it doesn’t matter for us,” he said. “We are still confident that we can convince them where the best interests are for us, for them and for the country.”

    He added that Gecamines is focused on creating value and is “entitled” to claim back undeveloped assets.

    ERG has been negotiating with DRC authorities to lift the suspension of its Boss Mining operations. The government halted the operations in June last year after accusing ERG of polluting the environment.

    Lukama said the loss of production at Boss Mining is depriving both shareholders of revenue. Gecamines owns a 49% stake in Boss Mining, which targets producing about 25,000 tons of copper and more than 3,000 tons of cobalt annually.

  • Erdene Resource Development begins construction at Bayan Khundii gold project in Mongolia

    Erdene Resource Development begins construction at Bayan Khundii gold project in Mongolia

    Erdene Resource Development Corp (TSX:ERD, OTC:ERDCF) announced that full construction of the high-grade, open-pit Bayan Khundii gold project in Mongolia has commenced.

    Additionally, the company said it has closed an investment by the Mongolian Mining Corporation (MCC) as part of its Strategic Alliance Agreement to develop the Khundii Minerals District.

    The agreement was formally closed on January 23, 2024, when MCC was issued shares representing 50% ownership in Erdene’s Mongolian subsidiary Erdene Mongol.

    “MMC is the ideal partner to develop the Khundii Minerals District with its experience in large-scale mining, expertise in construction, power supply, transportation and logistics, and national and international relationships,” Erdene CEO Peter Akerley said in a statement.

    “Together, we will unlock new opportunities for the Mongolian mining sector, increase the industry’s contribution to the national economy and create long-term value for Erdene shareholders.”

    The company highlighted that the Bayan Khundii project has proven and probable resources of 513,000 ounces of gold at an average head grade of 4 grams per ton, scheduled to produce an average of 87,000 ounces of gold during years two through five of the seven-year mine life.

    “The Bayan Khundii gold mine is one of the highest grade, open pit gold mines under development globally and will be Mongolia’s largest gold primary producer when it reaches full production,” Akerley commented.

    Erdene Resource Development is a Canada-based resource company focused on the acquisition, exploration and development of precious and base metals in underexplored and highly prospective Mongolia.

  • «Шубарколь Премиум» может потерять лицензию на недропользование

    «Шубарколь Премиум» может потерять лицензию на недропользование

    Угледобывающая компания «Шубарколь Премиум» получила уведомление от Минпрома о возможном расторжении контракта. Причиной, по которой ключевой акционер компании Тимур Кулибаев может потерять лицензию, стали систематические нарушения правил пользования недрами.

    Если через месяц г-н Кулибаев не устранит нарушений и не выплатит неустойки, контракт будет расторгнут в одностороннем порядке. Общая сумма штрафов составила порядка 55,6 млн тенге, сообщает «Курсив».

    Компания «Шубарколь Премиум» не выполнила плана финансирования, который был согласован при заключении контракта. Так, в 2020 году компания инвестировала в проект 7,8 млрд тенге вместо 23,2 млрд тенге. Ликвидационный фонд недополучил более 103 млн тенге: было переведено около 45% от всей суммы.

    Кроме того, тогда АО «Шубарколь Премиум» не направило должных средств на обучение, переподготовку казахстанских сотрудников (план был выполнен только на 37,6%) и научно-исследовательские работы (65,6%). По итогам 2020 года добыли почти 1,3 млн т угля, что составляет 43,03% от плана.

    В 2021 году ситуация повторилась: предприятие «Шубарколь Премиум» не выполнило план по финансированию добычи, обучению работников и переподготовке кадров. Недостаточными оказались капитальные расходы, а косвенные затраты и вовсе были равны нулю.

    Добыча угля в 2021 году составила 1,655 млн т (47,3% от плана). В 2022 году не добыли и 1 т. За январь — август прошлого года объём добычи угля сократился на 52%.

    В связи с нарушением контракта компания «Шубарколь Премиум» должна компенсировать 50,8 млн тенге за нарушения 2020 года и 4,8 млн тенге — за 2021 год.

  • Shubarkol Premium may lose its subsoil license

    Shubarkol Premium may lose its subsoil license

    The coal mining company Shubarkol Premium received a notice from the Ministry of Industry about the possible termination of the contract. The reason why the key shareholder of the company, Timur Kulibayev, may lose his license is systematic violations of the rules for the use of subsoil. 

    If after a month Mr. Kulibayev does not eliminate the violations and does not pay the penalty, the contract will be terminated unilaterally. The total amount of fines amounted to about 55.6 million tenge, Kursiv reports .

    The Shubarkol Premium company did not fulfill the financing plan that was agreed upon when concluding the contract. Thus, in 2020, the company invested 7.8 billion tenge in the project instead of 23.2 billion tenge. The liquidation fund received less than 103 million tenge: about 45% of the total amount was transferred. 

    In addition, at that time Shubarkol Premium JSC did not allocate adequate funds for training, retraining of Kazakh employees (the plan was fulfilled only by 37.6%) and research work (65.6%). At the end of 2020, almost 1.3 million tons of coal were produced, which is 43.03% of the plan. 

    In 2021, the situation repeated itself: the Shubarkol Premium enterprise did not fulfill the plan for financing production, training workers and retraining personnel. Capital expenditures turned out to be insufficient, and indirect costs were completely zero. 

    Coal production in 2021 amounted to 1.655 million tons (47.3% of the plan). In 2022, not even 1 ton was produced. In January-August last year, coal production decreased by 52%.

    In connection with the violation of the contract, the Shubarkol Premium company must compensate 50.8 million tenge for violations in 2020 and 4.8 million tenge for 2021. 

  • В РК запретят вывоз чёрного металлолома и нефтепродуктов

    В РК запретят вывоз чёрного металлолома и нефтепродуктов

    Власти Казахстана решили ограничить вывоз отходов чёрных металлов и ряда нефтепродуктов. Законопроект разрабатывается исключительно в интересах местных предпринимателей, сообщает пресс-центр премьер-министра РК.

    Теперь нельзя будет экспортировать казахстанские отходы чёрных металлов и сплавов. В частности, упразднят перевозки через железнодорожные пропускные пункты «Жайсан», «Аксу» и «Ауыл». Эти меры были приняты, чтобы поддержать казахстанские перерабатывающие предприятия, которые сейчас сами нуждаются в сырье.

    Минпром сообщил, что за прошлый год в РК собрали около 1,9 млн т чёрного металлолома, при этом перерабатывающие предприятия нуждались для полной загрузки в 3,9 млн т. Таким образом, заводы работали не в полную силу, в среднем задействовав лишь 35% от всех мощностей.

    В РК уже запрещён экспорт некоторых продуктов переработки нефти. Власти планируют продлить ограничения ещё на шесть месяцев. В перечень «невыездных» нефтепродуктов вошли такие виды топлива, как бензин и дизель. По мнению компетентных органов, это решение принято в рамках обеспечения нацбезопасности в энергетическом секторе.

  • The Republic of Kazakhstan will ban the export of ferrous scrap metal and petroleum products

    The Republic of Kazakhstan will ban the export of ferrous scrap metal and petroleum products

    The Kazakh authorities have decided to limit the export of ferrous metal waste and a number of petroleum products. The bill is being developed exclusively in the interests of local entrepreneurs, reports the press center of the Prime Minister of the Republic of Kazakhstan. 

    Now it will be impossible to export Kazakh waste of ferrous metals and alloys. In particular, transportation through the Zhaisan, Aksu and Auyl railway checkpoints will be abolished. These measures were taken to support Kazakhstani processing enterprises, which now themselves need raw materials.

    The Ministry of Industry reported that over the past year, about 1.9 million tons of ferrous scrap metal were collected in the Republic of Kazakhstan, while processing enterprises needed 3.9 million tons to fully load. Thus, the plants did not operate at full capacity, using on average only 35% from all capacities.  

    The export of certain petroleum products is already prohibited in the Republic of Kazakhstan. The authorities plan to extend the restrictions for another six months. The list of “restricted” petroleum products includes fuels such as gasoline and diesel. According to the competent authorities, this decision was made as part of ensuring national security in the energy sector.