“One of the most important innovative challenges of the exploration and mining industries of the economy of Kazakhstan should be considered the transition to international standards of public reporting for exploration results mineral resources and reserves. Today this fact is generally recognized.
What does such a transition give for the mining and geological industry of Kazakhstan?
Firstly, the transition to international public reporting standards radically changes the investment field of the industry, since information on resources and reserves will be presented in accordance with the rules that are understandable in most of the producing countries of the world,and, accordingly, to foreign exchanges, banks and investors.”
“There is no doubt that the transition to the new reporting standards will contain significantly more advantages than disadvantages for all players in Kazakhstan mineral sector.
Of course, given the numerous nuances and aspects of the many decades of application of the GKZ standards, a certain transition and adaptation period will be required, however, since all the necessary decisions have already been made, there is no way back.”
Georgii Freiman (GeoMineProject), Chairman 0f PONEN.