Kazakhstan Moves to Give National Company Exclusive Uranium Mining Rights
Photo: Kazatomprom.kz
The Majilis has approved in its first reading a package of amendments to the Subsoil Code that would grant the national uranium company — Kazatomprom — exclusive rights to uranium extraction and allow it to reserve territories for exploration, Orda.kz reports.
The bill also introduces new rules for the oil and gas industry. If a major deposit is discovered in an underexplored area, private operators will be required to transfer at least 50% of their rights to a national company, which will compensate part of the exploration expenses.
In addition, subsoil users will be barred from selling hydrocarbon exploration and production contracts within the first three years. National companies will face similar three-year restrictions on reserving territories or obtaining subsoil rights through direct negotiations.
Original Author: Artyom Volkov
Latest news
- Orda.kz Editorial Team to Cease Operations on September 1
- The Price of a Degree: How Students in Kazakhstan Pay for University
- Second Przewalski’s Horse Foal Born as Species Returns to Kazakhstan
- Kazakh Mining Companies Can Recalculate Purchases if Tenge Weakens
- Kazakhstan Names First Vice President in Three Decades
- What Almaty’s Bus Shelters Are Missing
- 400-Truck Queue Builds at Kazakh–Kyrgyz Border
- Kazakhstan Ready to Help Feed and Rebuild Gaza
- Tokayev Establishes New Presidential Security Body
- Almaty Takes Back Its Nearly Century-Old Hippodrome
- No More Guesswork on Savings: Kazakhstan Tightens Energy Audits for Businesses
- Public Money Could Be Used to Rescue Failing Kazakh Banks
- Third Kazakh Woman Reported Missing in Nepal-China Flood Zone
- Falconer Convicted Over 35 Protected Birds, Spared Punishment Under Amnesty
- Kazakh Citizen Detained in Yakutia in Phone Fraud Case
- Yuan Instead of Dollars? KazMunayGas Draws Record Demand in Asia
- China Gains Oil-Market Influence as OPEC+ Weakens
- Kazakhstan to Divide Smartphones Into White, Gray and Black Lists
- Kazakhstan’s Government Formally Resigns as First Kurultai Session Opens
- Rare Lynx Sighting Recorded in Northern Kazakhstan
