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The Group is subject to the permitting and environmental regulations of Kazakhstan and Kyrgyzstan in respect of its mining operations in those countries.
Environmental permits are granted for the Group’s operations, setting annual limits for emissions, water use and water discharge. If levels exceed these limits, charges are applied in proportion to the amount of emissions or usage in excess of the limits. The majority of the charges paid by the Group in 2023 are considered administrative in nature and are not considered fines for breaches of regulations. Excess emissions charges are not related to any potential risk to the environment or safe operation of our tailings storage facilities or other environmental management systems.
A new environmental code has been in place in Kazakhstan since 2021. The new code represents a significant modernisation of environmental regulations in Kazakhstan and, through the Mining Association, KAZ Minerals was actively involved in the drafting stages of the new code.