Changes to the Law on Subsoil aim to improve the conditions for the minerals development

On July 8, 2019, the President of the Kyrgyz Republic signed the Law of the Kyrgyz Republic “On Amendments to the Law “On Subsoil.”

The law is aimed at changing the wording of Part 4 of Article 21 of the Law “On Subsoil”. The current version of part 4 of Article 21 of the Law of the Kyrgyz Republic “On Subsoil” established a condition for extending the validity period of a license for the right to use subsoil for the purpose of developing in the form of mining at least half of the mineral reserves of the field.

Failure to comply with this condition was the reason for refusing to extend the term of the license. The purpose of this provision was non-renewal and revocation of licenses of unscrupulous subsoil users who did not carry out mining work and held licenses for a long time for speculative purposes.

The current amendments aim to improve the legislative regulation of subsoil use, as well as to improve the conditions for the development of mineral resources. (more information attached).

The IBC Mineral Resources Committee members took an active part in the working group on drafting the wording of Part 4, Article 21 of the Law on Subsoil, jointly with the representatives of the Committee for Industry, Energy and Subsoil Use of the Kyrgyz Republic and the Parliament Committee on the Fuel, Energy Complex and Subsoil Use.

The text of the mentioned law attached.