100 Subsurface Areas Of Solid Minerals And Groundwater Are Auctioned In The Republic Of Kazakhstan

The RK Ministry of Investments and Development has approved a list of subsurface areas of solid minerals and groundwater subsurface use rights to which will be auctioned in Kazakhstan. The list includes 100 subsurface areas and deposits (27 for production and 73 for exploration), including:

46 subsurface areas and deposits for the exploration for and production of gold; 22 for the exploration for and production of nonferrous metals and complex ores; 3 for the exploration for ferrous metals; 10 for the exploration for and production of nonmetallic minerals; 10 for the exploration for and production of rare earth elements; 1 for the exploration for diamonds; 2 for the exploration for bauxite; 4 for the exploration for and production of groundwater; and 2 for the exploration for semiprecious stones. The auction will be held on 3 December 2015 at 3:00 pm (Astana time). The deadline for filing applications to participate in the auction is 1 October 2015, 4:00 pm. Within 10 calendar days after this date, the RK Ministry of Investments and Development will notify each applicant admitted to the auction.

The auction is a simplified procedure where a participant offering the highest signature bonus, and whose bid is not exceeded after three announcements, becomes the winner. All other conditions will be fixed in the notice of auction and shall be the...