The Resolution of Cabinet of Ministers “On measures for implementation of the strategy for long-term development of geology, mining and metallurgical and copper processing industries” No.498 dated on August 4, 2021 (the “Resolution No.498”) will establish a Project Office for the development of geology, mining and metallurgy and copper processing industry (the “Project Office”) under the Ministry of Economic Development and Poverty Reduction.
The Project office is created as a State institution and financed from the State budget. The Project office consists of 18 local and foreign specialists. For the coordination of the activities of the Project office there will be established a management committee.
The main tasks of the project office are:
- defining strategic directions and development of proposals for priority projects aimed at expanding the exploration of copper, non-ferrous and rare metals, development of the market for geological services and creation of multi-level value chains for copper processing in cooperation with foreign consultants;
- preparation of investment treaties, negotiations with investors, implementation of a system for monitoring their performance;
- development of a target programme on geological exploration works for copper, other non-ferrous and rare metals for 2022-2026;
- development of a programme on the development of a chain of manufacturing of products with high added value based on copper and rare metals for 2022-2026;
- organization of production and repair of mining and metallurgical machinery and equipment with foreign companies on the basis of mining and metallurgical enterprises;
- attraction of the private sector in certain types of activities through cooperation and outsourcing;
- coordination of local environmental requirements with international standards.
The Regulation No.498 also approved the establishment of a Consortium of leading mineral resource assessors.
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