Kazakhstan to follow Australia's example in subsoil use
He confirmed that the concept of the Code will be approved by mid 2015 at the VI mining forum themed "Promoting investment and innovation in the mining industry" on Wednesday.
"The Government will approve the concept this June and, then, we will proceed to the development of the Code," Minister Isekeshev said.
In his words, the Code itself is planned to be approved in 2016. Issekeshev stressed that standards of the Organization for Economic Cooperation and Development (OECD) will be taken into account while making up the legislative framework of the document.
"Australia and Canada pride on having the best practices in that respect. We want to make sure that the Kazakhstani Code meets the requirements of developed countries. For example, the terms of contracts for exploration under the simplified procedure will be reduced to 3 days," he added.
