Article 198. Enforcement of obligations to eliminate the consequences of exploration for solid Minerals Code on Subsoil and Subsoil Use Republic of Kazakhstan
1. Exploration operations for solid minerals, the fulfillment of obligations to eliminate the consequences of which is not ensured in accordance with the requirements of this article, are prohibited.
2. Ensuring the fulfillment of the obligations of a subsurface user to eliminate the consequences of operations for the exploration of solid minerals may be presented in a combination of any methods provided for in this Code.
3. The total amount of collateral is calculated based on the number of blocks that make up the territory of exploration for solid minerals and the size of the monthly calculation index established for the relevant financial year by the law on the republican budget. The amount of security for one block is determined by the authorized body in the field of solid minerals according to the methodology approved by it.
The amount of security provided for in this paragraph, at the request of the subsurface user, is subject to a proportionate reduction if the subsurface user abandons part of the exploration site and completes the liquidation of the consequences of exploration on it. The authorized body in the field of solid minerals notifies the person who issued the security of the reduction of the security amount within five working days from the date of receipt of the application from the subsurface user.
4. The subsurface user is obliged to provide additional security for the fulfillment of obligations to eliminate the consequences of exploration activities in the case provided for in paragraph 7 of Article 194 of this Code. The amount of such collateral is calculated on the basis of a liquidation plan drawn up in this case in accordance with paragraph 3 of Article 219 of this Code.
The footnote. Article 198 as amended by the Law of the Republic of Kazakhstan dated 01/02/2021 No. 401-VI (effective from 03/01/2021).
President
Republic of Kazakhstan
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