The government of the Russian Federation increases the effectiveness of mining regulation

The government of the Russian Federation increases the effectiveness of mining regulation


The resolution provides that the subsoil users will not be able at its discretion to determine whether they are legal entities controlled by foreign investors, or foreign investors.

MOSCOW, 3 Nov. The government of the Russian Federation adopted a resolution aimed at increase of efficiency of activity of Federal public authorities in sphere of regulation of relations of subsurface use, the corresponding document posted on the website of the Cabinet.

Prepared by Ministry of environment decree governs the procedure for determining whether a subsoil user legal entities under the control of a foreign investor, or foreign investor. Also provides for the submission of the additional information such urlich, including on persons directly or indirectly controlling them and participating in the management, and the ultimate beneficiaries.

It is envisaged that all users of subsoil apply to the Agency in order to establish whether the user of bowels of the legal person under the control of a foreign investor, or foreign investor. Thus, the subsoil users will not be able at its discretion to determine whether they are legal entities controlled by foreign investors, or foreign investors.

In a case if FAS will confirm that the user is not, the Agency will inform him about the possibility of exploration and production of minerals on a subsoil plot of Federal significance without the decision of the Cabinet. That is a Russian legal entity — subsoil users will be able to undertake exploration and extraction of minerals on subsoil areas of Federal significance until the completion of his geological studies.

Also signed by decree the regulation on the decision to terminate the right to use subsoil plots of Federal value for reconnaissance and mining in case of geological study on the combined license is provided in accordance with article 6 of the law on subsoil.