Kazakh uranium producers to contribute to regions’ socio-economic development
Uranium producers in Kazakhstan will be required to allocate part of their revenues to the social and economic development of the region where they are developing the deposit. This rule will apply in case there will be a substantial increase in reserves of 30 or more percent of the initial volume after the additional exploration. The Senate of the Kazakh Parliament considered the draft law ‘On amendments and additions to the Code ‘On subsoil and subsoil use’ in terms of uranium mining. Miners will also be required to plan in advance the elimination of the consequences of their work. The document lists a number of regulations on uranium mining and exploration of reserves.
“There is a need for updating and researching additionally both uranium reserves and the structure of its deposits. The bill therefore proposes that additions must be made to the articles 173 and 176 of the Code, which will allow, firstly, to regulate the terms of the procedure for extending uranium mining. Secondly, to conduct additional exploration of the site during uranium mining in accordance with the deposit project and only within the contract area. Also, to assess the new discovered deposits or their aggregate as part of an addition to the project for the development of a deposit or to the uranium test-mining project,” said Irina Unzhakova, Member of the Mazhilis, the Lower House of Kazakh Parliament.
Members of the Senate amended the draft law on uranium mining and returned the document to the Mazhilis.