Kyrgyzaltyn Secures 15 New Licenses, Including for Uranium Development
Kyrgyzaltyn OJSC Receives 15 Licenses for Deposit Development and Geological Exploration
In a recent press conference, Deputy Chairman of the Board of Kyrgyzaltyn OJSC, Narynbek Satybaldiev, announced that the company has obtained 15 licenses for deposit development and geological exploration, including a license for uranium development. These licenses were acquired as a result of government reforms in the field of subsoil use, which now allow companies with a state share of 50 percent or more to receive licenses without a mandatory tender or auction.
Under the new rules, mandatory state participation in the development of large and medium-sized gold and silver deposits must be at least 30 percent. This has enabled Kyrgyzaltyn to secure licenses for various mineral deposits, including gold, gold and copper, gold and polymetals, quartzite, quartz, and coal.
One notable inclusion in the licenses received is the permit for the Tash-Bulak site of the Kyzyl Ompol uranium deposit. Former Minister of Natural Resources, Melis Turgunbaev, had previously reported that additional exploration of reserves would be conducted at the deposit.
It is important to note that in 2019, protests in Kyrgyzstan led to the revocation of a uranium development license and the passing of a law prohibiting the exploration and development of uranium and thorium deposits in the country. However, with the recent changes in regulatory legal acts, Kyrgyzaltyn was able to secure licenses for various deposits, including uranium.
Overall, these developments mark a significant step forward for Kyrgyzaltyn OJSC and the mining industry in Kyrgyzstan. The company will now be able to proceed with exploration and development activities for a range of valuable mineral deposits, contributing to the country’s economic growth and development.
