ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of December 20, 2010 No. 1374

About approval of Rules of inclusion of inventories of minerals in the state balance and their write-offs from the state balance

According to the subitem 39) of article 16 of the Law of the Republic of Kazakhstan of June 24, 2010 "About subsoil and subsurface use" the Government of the Republic of Kazakhstan DECIDES:

1. Approve Rules of inclusion of inventories of minerals in the state balance and their write-offs from the state balance.

3. This resolution becomes effective after ten calendar days from the date of the first official publication.

Approved by the order of the Government of the Republic of Kazakhstan of December 20, 2010 No. 1374

Rules of inclusion of inventories of minerals in the state balance and their write-off from the state balance

1. General provisions

1. These rules of inclusion of inventories of minerals in the state balance and their write-offs from the state balance (further - Rules) are developed according to the subitem 39) of article 16 of the Law of the Republic of Kazakhstan of June 24, 2010 "About subsoil and subsurface use" and establish procedure for inclusion of inventories of minerals in the state balance and their write-offs from the state balance.

2. The authorized body on studying and use of subsoil (daleeupolnomochenny body) will organize creation and conducts the state stock balance of minerals.

2. Procedure for inclusion in the state balance

3. Join in the state balance:

the inventories of all types of minerals reconnoitered in subsoil of the Republic of Kazakhstan approved by authorized body;

the inventories of minerals which are earlier approved by the State Commission on Mineral Reserves of the former USSR and the territorial commissions on inventories of minerals;

data of production and losses of minerals in subsoil in case of operation of fields.

4. The state balance shall contain data on quantity, quality and degree of study of inventories of each type of minerals on commercial detection, about their placement, about extent of industrial development, production, losses and about security of the industry with explored reserves of minerals.

5. The basis for inclusion in the state stock balance of minerals is the positive conclusion of state examination of subsoil.

Results of state examination of subsoil are drawn up by the protocol in which data on approval of inventories of minerals, on distribution of inventories on categories, on amounts and terms of trial operation of solid minerals, on coefficients of extraction of minerals and components, on write-off of inventories of minerals, on possibility of application of information on subsoil in the industry, scientific and other purposes are reflected.

6. The inventories of minerals included in the state balance are subdivided on:

inventories of previous year;

got from subsoil in reporting year;

lost in the course of production in reporting year;

inventories for date of creation of balance.

Variations from the approved inventories of minerals during the subsequent exploration works (investigations, revaluations, write-offs of inventories, changes of technical borders) and operation join with plus or minus.

7. The geological reporting on condition of subsoil is provided by subsoil users in interregional departments of authorized body (further - MD) annually till February 15 of the year following for reporting in the special forms approved by the Government of the Republic of Kazakhstan.

8. Based on the MD special forms stock balances of minerals on areas are constituted and are represented till May 1 of the year following for reporting to authorized body for inclusion in the state balance.

9. The state balance by types of minerals is made by authorized body annually till July 1 of the year following for reporting based on stock balances of the minerals provided to MD.

10. The state balance is made according to the Instruction for creation of the state stock balance of minerals approved by authorized body in the field of regulation of industrial policy.

3. Procedure for write-off from the state balance

11. Write-off of the inventories of minerals got, and also lost in the course of production is made by their complete removal from accounting based on Special forms of the geological reporting represented by subsoil users about condition of subsoil, which is based on materials of primary accounting (further - special forms).

12. Unlike not confirmation of balance sheet inventories of minerals in the course of further exploration works, or operation, within normative errors of degree of reliability of categories, is drawn up by the subsoil user independently, and in case of not confirmation of inventories with minus sign, exceeding normative errors, amending the state balance is allowed in the presence of the positive conclusion of state examination of subsoil.

13. Write-off of inventories of the minerals which lost industrial value in connection with discrepancy to again established standards, inexpedient to working off for the technical and economic or mining reasons, exceeding normative errors not of confirmation during the subsequent exploration works and working off, is performed based on state examination of subsoil.

14. In case of liquidation or preservation of mining company write-off of the fulfilled balance sheet inventories of minerals or their transfer to group of off-balance inventories which use according to the approved standards is economically inexpedient now or technically and is technologically impossible, but which can be transferred further to balance sheet, is performed based on the positive conclusion of state examination of subsoil.

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