Mining Sector Development Project, Phase II: Preparation of a new subsoil law
In Uzbekistan, the mining sector is one of the most important and strategic industries. The country is one of the largest gold and uranium producers in the world and also produces significant quantities of other important strategic minerals such as copper, phosphate, molybdenum and tungsten. Uzbekistan has a highly prospective geology, and the opportunities for further world class mineral deposits being discovered are considerable. Global experience shows that the adoption of modern policies, laws to regulate the mining sector, robust policymaking and regulatory institutions are key steps in the successful attraction of investment and development of a responsible mining sector.
Projekt-Consult has been engaged by EBRD to support with revision and reworking of the existing draft new Subsoil Law and furthermore to assist finalising an improved draft of that law for submission to parliament. While the current draft contains some notable individual reforms, important aspects require revision and reworking before it could be considered to be sufficiently reflective of international best practice and to be considered a fair, attractive and effective framework for investment in, and regulation and governance of, Uzbekistan’s mining sector. In addition, the project team also works an appropriate adoption and implementation plan for the New Subsoil Law. The project is flanked by capacity building on international best practices for ministry/committee/agency officials and other decision makers by subject matter advisors within the project team.