Russian central bank turns attention to banks hit by slower gold exports

MINEX Forum | April 13, 2020
img0 Russia’s central bank is considering how to help the country’s commercial banks with gold storage after complications with bullion exports because of the coronavirus crisis. Gold exports from the world’s third-largest producer behind China and Australia have been hit by the grounding of passenger flights while domestic demand has been curbed by the central bank’s ...

Finnish-Russian Zyfra to introduce AI-based mining solutions in India

MINEX Forum | March 17, 2020
img0 The Odisha-based Thriveni Earthmovers Private Ltd has awarded it a contract to implement an ‘intelligent mine’ solution at NTPC’s Pakri Barwadih coal mining project in Jharkhand New Delhi: Finnish-Russian digital solutions provider Zyfra on Sunday announced its plans to introduce artificial intelligence (AI)-based solutions for mining in the Indian market. The Odisha-based Thriveni Earthmovers Private ...

Russia’s finance ministry said to eye tax on miners as lower oil revenues loom

Anastasia Bogdanova | March 3, 2020
img0 Russia’s Ministry of Finance is reportedly looking beyond the oil and gas industry to the country’s mining sector for funds to bankroll new social spending ordered by President Vladimir Putin at the start of the year, with the prospect of declining oil production and associated revenues on the horizon. The Ministry of Energy told S&P ...

Uzbekistan imposed sanctions for mining without a license

Anastasia Bogdanova | February 26, 2020
img0 According to Law of the Republic of Uzbekistan ZRU-603 dated January 22, 2020, the Code of Administrative Responsibility is amended by a new article on unlicensed mining. This rule provides for stricter liability measures. In accordance the new article, citizens shall be fined at the amount from 30 to 50 base calculation value [1] (hereinafter – BCV)[2], ...

Russian Mineral Resource Projects: New Legal Developments

Anastasia Bogdanova | January 17, 2020
img0 There are some notable recent developments and pending initiatives in Russia’s subsoil use sphere as 2020 unfolds. Split licenses for hard-to-recover resource blocks. Russia’s subsoil use legislation was amended in December 2019 to allow the splitting of licenses for hard-to-recover resources. These amendments aim to stimulate technologies for extraction of hard-to-recover resources (primarily hydrocarbons). There ...

Kazakh government approves new draft Ecology Code to toughen penalties for environmental offenses

MINEX Forum | January 8, 2020
img0 The government approved a new draft Ecology Code during the Dec. 24 government meeting chaired by Prime Minister Askar Mamin. The Ministry of Ecology, Geology and Natural Resources developed the draft considering the experience of the Organisation for Economic Co-operation and Development (OECD) countries and opinions from the Kazakh public and business community. The ministry ...

Albania: Mining Action Plan – 5% annual growth of the sector and new research on chromium, copper and gold

MINEX Forum | October 28, 2019
img0 In Albania, a new three-year action program for the mining sector is set to become effective from 2019 to 2021, projecting a 5% annual growth in production. The decision of the Council of Ministers, which directs the development of the mining sector in this period, was published in the Official Journal, and in addition to ...

Kyrgyzstan: Anti-uranium mining protests persist and proliferate

MINEX Forum | June 24, 2019
img0 There are at present 12 outstanding concessions for uranium exploration Kyrgyzstan is struggling to tamp down a mood of protest inspired by opposition to uranium mining, an industry that is lucrative but tainted by memories of Soviet-era practices. The capital city, Bishkek, has seen three anti-uranium demonstrations in the past week alone. The largest drew more than 200 people and ...