The second meeting of the Mining Club was held during the annual Astana Finance Days conference, organised by the Astana International Financial Centre.
The event was organised in partnership with Haller Lomax LLP and Aurora Minerals Group LLP. Mining Club brings together representatives of junior and service companies in the exploration of solid minerals, managers and specialists of the largest mining enterprises in Kazakhstan, representatives of financial institutions and competent authorities of Kazakhstan, independent experts and trade missions of foreign countries, to discuss the most relevant topics of the junior companies’ market development and attracting of investment in the exploration industry of Kazakhstan.
This year, within the framework of the Mining Club, three panel sessions were organised:
The speakers of the forum put forward their vision and proposed tools for the development of the mining industry. “AIX allows attraction of funding for both large and junior exploration companies. As a rule, junior exploration companies do not meet the standard requirements that the Exchange sets for listing. They have a short history of activity, there is no acceptable audit of financial statements and corporate governance, and the mutual rights and obligations of shareholders are not clearly regulated. Therefore, AIX has created a specialized Regional Equity Market Segment that allows companies to be listed according to a separate standard that meets the requirements of international investors interested in investing in this industry”, says Malik Nishanbayev, Head of Mining at AIX.
"The launch of a modern and open online information infrastructure for geological information and obtaining exploration licenses throughout our country, available for geological exploration, along with the reformatting of the state's mission in geological exploration is no longer an important task, but an urgent need to compete with other jurisdictions and spheres in attracting investment. The momentum in attracting investors from simply reforming the legislation – the adoption of the Code on Mineral Resources – is undergoing weakening. Now it is important for the state to take on itself, rethinking its role as a regulator and driver of economic activity, and not an active market participant, " says Timur Odilov, a partner at the law firm Haller Lomax and one of the developers of the Subsoil Code.
Chairman of the Management Board of "NMC "Tau-Ken Samruk" JSC, Kanat Kudaibergen, noted: “Kazakhstan has a significant potential for the discovery of large new deposits. Tau-Ken Samruk is looking for promising gold, copper, lead, and zinc exploration projects within the framework of the junior program and is ready to cooperate with investors and subsurface users. Over the past 3 years, the State has taken measures to improve the country's investment climate, which have contributed to attracting investment. It is necessary to continue this work and create conditions for the further development of the junior market”.
"With the introduction of the Code on Subsurface Resources, the demand for geological exploration services has significantly increased. At the same time, the requirements for service providers have also increased. Safety technology, quality of services and modern advanced equipment are at the forefront, " says Kaisar Kozhamuratov, partner of the service exploration company Aurora Minerals Group.
Reference information:
AIFC. «Astana» International Finance Centre (AIFC) was created by the initiative of the First President of the Republic of Kazakhstan – Elbasy Nursultan Nazarbayev. The Constitutional Law “On the AIFC” was signed on December 7, 2015. The purpose of AIFC is to create the leading international centre of financial services. Objectives of AIFC include: assistance in attracting investments into the country's economy, creating an attractive environment for investing in financial services, developing the securities market of the Republic of Kazakhstan and ensuring its integration with international capital markets. www.aifc.kz
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