Kazakhstan set date for first-ever auction for subsoil use
The auction for right to use subsoil will be held for the first time in Kazakhstan on December 3, the country’s Ministry of Investments and Development reported.
A total of 100 subsoil areas, including 27 areas for production and 73 for exploration will be put up for the auction.
Moreover, 46 areas for gold and gold ores, two areas for cobalt and chromium, one - titanium, three - manganese and iron, 10 - non-metallic raw materials, 10 - rare-earth elements, one - diamond, two - bauxite, four – groundwater and two areas for raw gemstones will be put up for the auction.
The call for applications ended October 1 and 190 bidders have been admitted for participation in the auction.
The bidder offering the largest volume of subscription bonus will be the winner. It is the basic and the only criterion for defining the winner. All other criteria are the same for all the participants.
All terms and stages of the auction are strictly limited by the law, which will not allow to delay summing up the bidding results without objective reasons, the ministry said.
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