The President of Kazakhstan has called for an immediate settlement of the mining market
The decision was announced during a meeting with the country's energy minister
03.11.2021 - 09:00
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What's new? The official website of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev has published the details of the meeting with the Minister of Energy Magzum Mirzagaliyev. Among the topics for discussion were issues related to mining.
What decisions have been made? Kassym-Jomart Tokayev has instructed those in charge to introduce “urgent” regulation of the mining industry. According to the president, currently illegally operating miners consume up to 1200 MW of electricity. At the same time, entrepreneurs who carry out activities without violations will be able to continue working.
What are the prospects for the industry? As previously stated, within 5 years, revenues from mining in the Kazakhstan economy may amount to $1,5 billion. Legal participants in the mining market already bring 98 billion tenge (about $230 million) per year to Kazakhstan. Nevertheless, at the legislative level, the authorities impose restrictions on this area, in particular, setting limits on energy consumption.
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