.jpg)
AIX (Astana International Exchange) is pleased to announce the introduction of AIX Mining Rules (approved by AIX Board on 2nd of July) that are intended to provide a regulated listing platform for mining companies in Kazakhstan and the region to raise capital on AIX.
A two-tier approach has been adopted for the Rules. Tier 1 accommodates larger issuers in advanced stages of development while Tier 2 concentrates on smaller, junior issuers, at the early stage of development.
The Mining Company Rules are designed to balance attractiveness for issuers and investor protection and reflect the nature of investments in the mining sector. 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.
AIX conducted several rounds of consultations on the Rules with a range of industry representatives, professional associations and governmental bodies. In addition, a positive response has been received both from potential issuers and investors.
“The current situation in the local and worldwide mining industry creates a window of opportunity for the AIX mining segment to attract issuers and investors from both Kazakhstan and abroad,” said Tim Bennett, CEO, AIX. “With the latest reforms in Kazakhstani subsoil use legislation, as well as geographic proximity to some of key natural resources locations, AIX is well-positioned to become the regional junior mining hub in Central Asia.”
The Rules are expected to take effect in the third quarter of 2019, subject to approval by Astana Financial Services Authority.
