IBC representatives took part in the First Mining and Geological Forum MINEX Kyrgyzstan 2018 held in Bishkek under the motto “Regional Development through Investments”.

The event was organized by the Kyrgyz Mining Association with the support from the State Committee for Industry, Energy and Subsoil Use of the Kyrgyz Republic. The forum participants met with key industry players, discussed the industry’s problems and opportunities for development.

The Kyrgyz Mining Association has drafted a mining industry development strategy, which includes limiting the types of compulsions and sanctions, as well as improving public incentives, including the introduction of international reporting standards.

President of the Kyrgyz Mining Association Ishimbay Chunuev proposed to legalize small mining business. In the world economy, the share of artisanal mining is 15-30% of the total volume. Several thousand people are engaged in the spontaneous mining of placer gold in Kyrgyzstan.

According to Chunuev, the Mining Code should provide for the creation of special conditions for the development of the industry, including tax benefits and simplified access to obtaining licenses.