On July 1, the second meeting of the Mining Club was held within the framework of the annual Astana Finance Days conference, organized by the Astana International Financial Centre.
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 organized:
1. Amendments in mining industry legislation
2. Development of mining geology in Kazakhstan
3. Funding of exploration projects
The speakers of the forum spoke about the measures of state support for the development and implementation of mining projects, changes in taxation in terms of subsurface use, 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.
General Director of "Aurora Minerals Group" LLP Kaisar Kozhamuratov shared his practical experience and a subjective view through the prism of junior companies in Kazakhstan, in particular Aurora Minerals. "In recent years, the demand for exploration work has increased significantly, which is a positive result of Code. Despite the successful results, there are still problems in the industry, such as a large shortage of specialists, the problem of regulation of geological funds, healthy competition, etc."
Chairman of the Management Board of JSC "NMC "Tau-Ken Samruk" 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".
The event was organized in partnership with Haller Lomax LLP and Aurora Minerals Group LLP. To watch the full video of the event, follow the link: https://astanafindays.org/broadcast?id=e857bfbc-809c-4024-8796-316fc9594bb3
