Junior Mining

In 2019, the AIX approved Mining Company Rules based on the standards applying to mining company listings on the Toronto and Australian stock exchanges. The Rules apply a differentiated approach separating large mining companies in advanced stages of development (Tier 1) and junior companies with a higher degree of risk and potentially higher returns (Tier 2). A key requirement for companies is that they should have available a qualified report on geological performance and mineral reserves.

Depending on the tier assigned, mining companies are exempt from net income and minimum market capitalisation listing requirements. Issuers will be required to demonstrate that they employ qualified management and technical personnel, and use geological reporting, as evidenced by independent experts in accordance with best international mining industry standards.

Please refer to AIX Mining Company Rules of the AIX Business Rules.

Natural conditions encourage more capital to flow into the Kazakhstan mining sector:

Wealth of natural mineral deposits
Leading positions in explored reserves and uranium, zinc, tungsten, barium, silver, lead, chromite, copper, fluorite and molybdenum production
Geographic proximity to countries rich in natural resources, such as Russia, Mongolia and Uzbekistan and countries with a concentration of mining investors, such as Russia and China
Kazakhstan has created a favourable regulatory environment for the mining sector to develop
A New Subsoil and Subsoil Use Code builds on Australian practices
The length of time required to secure a license has been reduced to 10 days
Over 600 licenses were issued in the last 2 years
Mining sector investment is concentrated in two world centres, Toronto and Sydney. Kazakhstan and the AIX can find its niche between them

Main mining sector listing requirements

Requirement	Mature companies	Juniors
Financial statements	Audited statements for 3 years	Audited statements for 2 years (not required for newly created companies)
Financial standing	Sufficient to execute a stated work programme within 18 months of listing	Sufficient to execute a stated work programme within 12 months of listing
Minimum market capitalisation	From 1 million USD	–
Geological reporting	JORC or NI 43-101 Proven or Measured Resources	JORC, NI 43-101 or KAZRC
Staff and infrastructure	Adequate management and director experience, and technical expertise suitable to the company and industry; relevant experience in public companies; properly qualified technical personnel and experts; and the necessary infrastructure
Compliance with requirements	Compliance with mining licenses, material contracts and applicable laws

Mining brochure

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Contacts

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