Kazakhstan to increase support of geological sector

Business Materials 6 March 2013 13:17 (UTC +04:00)

Kazakhstan, Astana, March 6 /Trend D. Mukhtarov /

At least five per cent of the taxes on mineral extraction will be assigned to the development of the geology sector, the vice minister of industry and new technology of the Republic of Kazakhstan Nurlan Sauranbayev told Trend.

"This amount will be assigned to the development of geology sector annually, constituting 60 billion tenge (1 Dollar - 150.6 Tenge)," Sauranbayev said behind the scenes of the general meeting of the working group on making recommendations on amendments and supplements to the law 'on subsoil use'.

The vice minister mentioned the crisis in the geology sector in Kazakhstan due to limited financing.

"Previously only three billion Tenge was assigned to the exploration of solid minerals. This sum can be enough for the geological exploration on the territory of a small village, but not enough for the large territory of Kazakhstan," he noted.

According to Sauranbayev, for the purpose of getting out of the crisis a concept on the development of the geology sector was created according to instructions from the head of state.

"A five-year sectorial programme on replenishment of the mineral resource base of the Republic of Kazakhstan meant for 2015 - 2019 will be created on the basis of the concept. The amounts of funding of the geology sector will be prescribed in the programme. A working group will be created for the development the sectorial programme according to the prime minister's instruction," Sauranbayev added.