Arbitration and dispute resolution
Any dispute or controversy not solved by mutual agreement within 60 days shall be settled by arbitration initiated by either...
Audit mechanisms - financial obligations
KBC is to provide audited financial statements annually in accordance with International Finance Reporting Standards, together with production statistics in...
Closest community
Qara Zaghan village in the Dushi District, Baglan Province, Afghanistan
Environmental impact assessment and management plan
AKNR will provide, along with the exploration plan, an Environmental Action Plan detailing how it will minimize environmental disturbance and...
Environmental protections
AKNR is obliged to include in its plans details for its usage of water and for the protection of local...
Infrastructure
AKNR shall perform at its sole expense all necessary construction during the term of the agreement, including infrastructure such as...
Local development agreement
During the first 2 years of the contract AKNR shall spend a minimum amount of US$ 50,000 for the implementation of social programs as per the social development plan.
Local employment
Afghan nationals shall be employed to the extent practible in all classifications of employment. AKNR shall also develop a training...
Local procurement
AKNR may procure its equipment and machinery within Afghanistan or outside the country, but shall use its best efforts (along...
Name of company executing document
Afghan Krystal Natural Resources Company ("AKNR")
Other - financial/fiscal
A financial guarantee in the amount of US$ 100,000 shall be provided by AKNR to the Government of Afghanistan as...
Royalties
Royalties due to the Ministry shall correspond to 26% of the gross revenue from sale of gold at a price...
Stabilization
Any future changes to existing Mineral Laws will have no bearing on the terms, conditions or validity of the agreement,...
State agency, national company or ministry executing the document
The Ministry of Mines of the Government of the Islamic Republic of Afghanistan
Term
The contract shall be valid for a period of 6 months for preparation, a period of up to 2 years...
Type of contract
Exploration license for AKNR to explore for gold mineralization in the licensed areas. In case the exploitation of gold in...
Work and investment commitments
AKNR is obliged to provide a detailed investment plan to the Ministry of Mines for the exploration phase of the...
Country
Afghanistan
Signature Year
2011
Resource
Gold
Type of Contract
Concession Agreement
Open Contracting Identifier
ocds-591adf-9771948110
Disclosure Mode
Government
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