Prime Minister Alikhan Smailov led a crucial meeting to address the challenges and discuss the implementation of the International Committee for Mineral Reserves International Reporting Standards (CRIRSCO) in the Republic of Kazakhstan. The meeting aimed to ensure a smooth transition to these global standards in the field of subsoil use.
CRIRSCO is a worldwide committee that brings together public reporting codes for solid mineral reserves from various countries, including Australia, the USA, Canada, Russia, India, Turkey, New Zealand, Africa, Europe (23 countries), South America, and Southeast Asia. Kazakhstan, with its KAZRC code joining the CRIRSCO family in 2016, is set to fully integrate international standards by 2024. This strategic move is anticipated to attract foreign investment in geological exploration, providing a significant boost to the country's mining industry.
During the discussions, Prime Minister Smailov emphasized the importance of a timely and seamless transition to CRIRSCO (KazRC) standards for new deposits. Simultaneously, he directed the continuation of the State Commission for Mineral Reserves of the Republic of Kazakhstan's activities for already developed deposits.
One notable directive from the Prime Minister was to establish stringent liability measures, including the possibility of criminal charges, for competent individuals responsible for preparing reports according to KazRC standards. The intention behind this approach is to ensure accountability and adherence to minimum requirements in these reports. This measure is expected to strike a balance between safeguarding the state's interests and promoting private business activities in the development of solid mineral deposits.
The implementation of CRIRSCO standards is seen as a pivotal step in aligning Kazakhstan's subsoil use practices with international norms, fostering transparency, and enhancing investor confidence in the country's mining sector.
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