Astana International Exchange (AIX) has announced that Mining Company Rules (the “Rules”) designed to create favourable environment for mining companies on AIX received a final approval by Astana Financial Services Authority. The Rules are accessible via the following link.
In the interest of both institutional and retail investors, a differentiated two-tier approach has been adopted for the Rules. Tier 1 shall focus on larger issuers on advanced stages of development, while Tier 2 provides a platform for junior mining companies with potentially higher returns and risk profile.
Depending on the Tier, mining companies will enjoy exemptions from several AIX Business Rules listing requirements, such as net profit and market capitalisation requirements. At the same time, the issuers will be required to demonstrate adequately experienced management, suitably qualified technical personnel and experts, as well as a Competent Person’s Report compliant with either of the JORC, NI 43-101 or KAZRC standards.
