The President Shavkat Mirziyoyev signed the Precious Metals and Precious Stones Bill into Law on Tuesday, the Ministry of Justice said in a statement.
According to the Law, the right to use subsoil land plots containing precious metals and precious stones for individuals and legal entities arises from the moment they receive, in accordance with the established procedure, the relevant permit issued by the State Committee for Geology and Mineral Resources.
After the termination of the right to use subsoil plots, individuals and legal entities engaged in the extraction of precious metals and precious stones are obliged to take measures to reclaim subsoil plots and bring them into a condition suitable for further use.
Concealment of mined precious metals and precious stones is the basis for the termination of the right to use subsoil plots for the implementation of this activity.
Refining of precious metals is carried out by refineries on the basis of a license issued in accordance with the established procedure. Activities for the manufacture of jewelry and other products from precious metals and precious stones are carried out on the basis of a notification procedure provided for by law.
The Law comes into effect three months after the date of its signing.
