The Ministry of Natural Resources of the Russian Federation has developed a package of documents regulating the provision of subsoil plots to private investors for conducting regional stages of exploration.
Rosnedra will post on its website a list of sites available for exploration, indicating the timing of work, the content and the amount of necessary financing. Companies must provide a specific list of documents and information to Rosnedra for consideration of their applications.
The state will control the regional stages of exploration and allow only companies with at least five years of experience to work. Another condition is the absence of cases of early termination of the right to use the subsoil over the past two years. The project documentation for the geological study will be developed by the subordinate institutions of Rosnedra in cooperation with investors who are obliged to conclude an agreement.
The issuance of subsoil plots will be carried out on the basis of a decision of the Commission, which will include representatives of the Ministry of Natural Resources of Russia, Rosnedra, as well as regional authorities.. In the case of several applications for one site, the company that first provided the package of documents receives the right, unless grounds for refusal are identified.
The new orders of the Ministry of Natural Resources of the Russian Federation will come into force on September 1, 2024, together with changes in legislation.