KAZAKHSTAN Law and Practice Contributed by: Timur Odilov, Mikhail Abdulov, Olzhas Abubakirov and Alnur Dauylbay, Haller Lomax LLP
Other than other types of encumbrances, a pledge of mineral rights or a share thereof requires registration with the MIC, and it becomes valid from the moment of registration. Related assets such as equipment and machinery may be pledged, within the limits and conditions envisaged by the RoK Civil Code. 6. Mining: Outlook and Trends 6.1 Two-Year Forecast for the Mining Sector The mining sector in Kazakhstan faces today a period of regulatory uncertainty and transition. On one hand, the President’s declared commitment to continuing reforms in the subsoil use framework signals long- term strategic intent. On the other hand, the Parlia - ment’s recent rollback of a number of reform measures undermines confidence in a stable legal trajectory. The ultimate outcome will largely depend on the govern - ment’s commitment to transparent policymaking and its ability to balance competing interests.
Interest in Kazakhstan’s rare earth metals and other critical minerals continues to grow. China, the Unit - ed States and EU countries view Kazakhstan as an increasingly important source of energy-transition minerals. This global strategic demand is expected to sustain and likely increase the flow of foreign direct investment into the mining sector in Kazakhstan, which has already more than doubled over the past five years. The government itself has demonstrated a clear strategic focus on enhancing the investment attractiveness of mining and rare earth sector itself. A notable policy shift is taking place in the uranium sector. In line with Kazakhstan’s long-term strategic priorities, the state is moving towards further con - solidation of uranium projects under its control. An Agency has recently been established, and the Ura - nium Amendments have been adopted. The trajectory of Kazakhstan’s mining sector over the next two years will depend on the resolution of ongoing legislative debates, growing interest in the development of rare earth metals, and the outcomes of exploration activities conducted under greenfield projects. A stable regulatory environment combined with a balanced approach to state control and mar - ket principles will be essential for maintaining inves - tor confidence and supporting growth in the mining industry.
214 CHAMBERS.COM
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