Kazakhstan has introduced stricter requirements for obtaining and retaining subsoil use rights after Kassym-Jomart Tokayev signed amendments to the Code “On Subsoil and Subsoil Use,” LS reports.
Under the new rules, winners of subsoil auctions must pay signature bonuses before a license is issued. Companies that refuse to make the payment will be barred for five years from obtaining new subsoil rights or acquiring them from third parties.
The amendments also prohibit concealed extraction of solid minerals under the guise of pilot or test production. Any such violations will result in the immediate revocation of exploration licenses.
To prevent the emergence of inactive or stalled projects, higher investment requirements have been introduced. Investors must now confirm the availability of financing with supporting documentation before receiving rights to develop mineral resources.
The changes were previously presented in the Mazhilis and are aimed at strengthening discipline among investors and ensuring more effective and transparent development of Kazakhstan’s mineral base.
