The Ministry of Industry and Infrastructure Development (MIID) in Kazakhstan is planning to hold an electronic auction on May 26 for the rights to extract solid minerals from various deposits.
The auction will include deposits of gold, silver, coal, bauxite, titanium, and other minerals. The purpose of the auction is to attract investments for the development of these unused deposits. Interested participants can apply until May 5, and the starting amount of the signing bonus is set at 500 monthly calculation indices, which is equivalent to 1.725 million tenge. In addition to the upcoming auction in May, the MIID plans to hold another electronic auction for around 30 more deposits of solid minerals later in the year. These deposits have been withdrawn as part of the ministry’s efforts to review and revise all unused deposits.
MIID has launched a module for issuing licenses on a single platform, minerals.gov.kz, allowing investors to obtain exploration and production licenses online. They also have access to over 30,000 geological reports. Furthermore, the MIID is working on amendments to the Subsoil Code to automate and simplify procedures, aiming to eliminate administrative barriers and reduce the regulatory burden for subsoil users. The ministry is open to feedback from subsoil users to address the challenges they face when interacting with state regulation. The proposed amendments, including the optimization of public service procedures and the elimination of paper document requirements, are expected to be submitted to the Mazhilis of the Parliament in December.
