Kazakhstan's President Kassym-Jomart Tokayev ordered his government on Tuesday to extract greater tax revenue from the mining sector which, he said, was profiting from higher metals prices.
The energy-rich Central Asian country, which has weathered its worst bout of unrest since it gained independence from the Soviet Union three decades ago, is the world's top global producer of uranium and has large deposits of copper, iron ore and zinc.
The price of uranium, the metal that fuels nuclear power plants, jumped last week after the unrest in Kazakhstan that was initially sparked by protests against an increase in fuel prices but later widened into what the authorities have since called an attempted coup.
"The income of firms in the mining sector has grown against the backdrop of higher prices for raw materials," Mr Tokayev told parliament on Tuesday.
"I am ordering the government to come up with a plan [to bring] additional revenue to the budget. In exchange, we can provide large incentives for the exploration and development of new deposits for large mining and other companies."
Mr Tokayev did not provide additional details on the initiative or the incentives that might be given to mining companies, nor did he say when the measure might come into force.
It was not immediately clear how his plan might affect foreign mining and commodity companies that do business in Kazakhstan, including Glencore, Rio Tinto and French nuclear fuel company Orano.
National mining company Kazatomprom, the world's biggest uranium producer, said last week that its operations and exports were not affected by the unrest, which the authorities said had since been brought under control.
Russia announced a similar mining tax measure last year, imposing higher taxes on metals producers to attract more budget revenue.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
If you go
Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.
Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com
A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com
