2609
Mining Sector Development Project, Phase II: Preparation of a new subsoil law
In Uzbekistan, the mining sector was one of the most important and strategic industries. The country was one of the largest gold and uranium producers in the world and also produced significant quantities of other important strategic minerals such as copper, phosphate, molybdenum, and tungsten. Uzbekistan had a highly prospective geology, and the opportunities for further world-class mineral deposits being discovered were considerable. Global experience showed that the adoption of modern policies, laws to regulate the mining sector, robust policymaking, and regulatory institutions were key steps in the successful attraction of investment and development of a responsible mining sector.
Projekt-Consult was engaged by the EBRD to support the revision and reworking of the existing draft new Subsoil Law and furthermore to assist in finalizing an improved draft of that law for submission to parliament. While the current draft contained some notable individual reforms, important aspects required 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 worked on an appropriate adoption and implementation plan for the New Subsoil Law. The project was 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.
