Mineral rights and permitting

Mining operations are permitted under the provisions of a ‘Subsoil Usage’ Licence (MG No. 1278 D), which encompasses an allocated area of 1.176 km2. This licence was granted by the Government of the Republic of Kazakhstan in 1998 and allows for a mining extraction rate of 500,000 tpa. It was initially valid for 25 years but changes in law followed by appropriate permitting have had the effect of extending this to at least 2043 and can be further extended when required. In accordance with Article 66 of the Law of the Republic of Kazakhstan “On Subsoil and Subsoil Use” the scope and period of the subsoil use contract are determined by the project documents, approved and agreed in accordance with the law, which are appended to the contract.