TORONTO, ON, March 10, 2014 – The Canada Eurasia Russia Business Association (CERBA) hosted its annual Russia and Eurasia Mining conference, taking
TORONTO, ON, March 10, 2014 – The Canada Eurasia Russia Business Association (CERBA) hosted its annual Russia and Eurasia Mining conference, taking place during the PDAC 2014.
It focused on updates on market regulations in mining, current political and economic climate as well as new investment opportunities in Russia, Kazakhstan and other Eurasian countries. The conference brought together more than 150 experts from business, government, diplomatic, academic and consulting backgrounds.
One of the key issues in Russia’s geological prospecting and mining sector is the imbalance in legislation norms for mineral reserves. The conference brought it to light that currently Russia is taking actual steps to streamline the legal regulation system of suboil use relations. Among the primary objectives are increasing the efficiency of government control, encouraging subsurface users to invest in geological prospective and mineral resources extraction and streamlining the regulation of subsoil use relations after obtaining the license.
The conference also touched upon the New Mining Code, which concept will be prepared before July 1, 2014 to ensure Kazakhstan’s competitiveness in attracting international investment in mining and oil & gas exploration. Kazakhstan will become the first ex-Soviet Union State to accept the New Mining Code modelled on Australian and Canadian principles of allocation of Mineral Exploration Rights.
Leading Canadian industry players shared their stories of success in Russia and Eurasia. The experiences of such companies as Kinross Gold Corporation, Centerra Gold Inc, Stans Energy Corp., Silver Bear Resources and others show that it is possible to mine in these countries and to succeed. Among the key factors of success the companies’ representatives named the involvement of local workforce and open cooperation with the local communities.
“Russian and Eurasian mining markets are increasingly attractive for Canadian business, and it is encouraging that there are efforts from the government side addressing the current issues and making resources more accessible. We hope that this year’s CERBA mining conference provided the opportunity for participants to learn about the latest significant changes in legislation, get first-hand experience on doing business in Russia and Eurasia and build strategic relations, which will result in mutually beneficial cooperation in future,” said Lou Naumovski, National Chairman, CERBA; VP and General Director, Moscow Office, Kinross Gold Corporation.
Among others, the conference speakers included:
- Evgeny Kiselev, Deputy Head of the Federal Agency on Mineral Resources (ROSNEDRA), Russian Federation
- Alexei Orel, Co-Chair of the Canada-Russia Mining Working Group, Director of the Department of State Policy in the Field of Subsoil Usage and Nature Management, Ministry of Natural Resources, Russian Federation
- Bazarbay Nurabayev, Head of the State Geology Committee, Ministry of Industry and New Technologies, Kazakhstan
- Galymzhan Nurzhanov, Chief Executive Officer, JSC KazGeology, Kazakhstan
- Alibek Arshabekov, Managing Director, Business Development, JSC «Tau-Ken Samruk»
- Claude Schimper, Vice President and General Manager, Kupol Mine in Russia, Kinross Gold Corp.
- Ulmas Musaliev, Principal Banker - Natural Resources Team, European Bank for Reconstruction and Development
- Hratch Jabrayan, Vice President and General Manager, Dundee Precious Metals
- Boris Aryev, COO, Stans Energy Corp.
- John Pearson, Vice President, Investor Relations, Centerra Gold Inc.
- Roger Holmberg, President, Nitro Sibir Canada, Nitro Sibir Group of Companies
Conference was followed by the Roundtable “Canada-Russia Cooperation: Northern Development”. Participants exchanged new ideas and best practices in the area of promoting business linkages between Canada and Russia in the North, discussed economic challenges facing Indigenous communities in Canada and Russia and show-case international trade opportunities in the North. The Roundtable contributed to the Arctic and North Working Group (ANWG) of the Canada-Russia Intergovernmental Economic Commission.
