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
- Kazakhstan’s Credit Rating Upgraded for First Time in a Decade
- While Thousands Lost Power, KEGOC Executives Received Nearly Half a Billion Tenge
- Changi Airport Group May Help Build Astana’s New Airport
- US Again Extends Deadline for Lukoil to Sell Its Assets in Kazakhstan
- Kazakhstan Extradites Business Manager From Russia in 290 Million Tenge Tax Case
- Released Amur Tiger Successfully Hunts in Kazakhstan’s Wild
- Kazakhstan Moves to Develop Critical Minerals as Global Competition Intensifies
- Another Performance by Kazakh Stand-Up Comedian Called Off
- Uzbekistan Begins Preparations for Second Nuclear Power Plant
- Backpack Links Glacier Remains to Man Missing for 19 Years
- 650-Hectare Wildfire Contained in Karaganda Region
- Unusual Wildlife Encounter Captured in Altyn-Emel
- Retired Border Service Dog Sold for $2 at Kazakhstan Auction
- Will Kazakhstan Have Enough Coal This Winter?
- Belarusian Hikers Find Body on Glacier Near Almaty
- Kazakhstan Investigates Spending on 242 Million Tenge Educational Game
- Kazakhstan Makes Caspian Oil Companies Pay for Counterterrorism Deployments
- Kazakhstan Faces Shortage of 245,000 School Places
- Waste Dumping Reported Near Yurt Camps at Lake Zaisan
- Kazakh Oil Rerouted to Novorossiysk as Russia Frees Baltic Export Capacity
