The Russian Ministry of Natural Resources has developed a package of documents regulating the provision of subsoil plots to private investors for regional stages of geological exploration.
Rosnedra will post a list of plots available for geological exploration on its website, indicating the timeframes for the work, content, and amount of necessary financing. Companies must provide a specific list of documents and information to Rosnedra for consideration of their applications.
The state will monitor regional stages of geological 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 subsoil over the past two years. Project documentation for geological exploration will be developed by subordinate institutions of Rosnedra in cooperation with investors who are required to enter into an agreement.
The allocation of subsoil plots will be carried out based on the decision of the Commission, which will include representatives of the Russian Ministry of Natural Resources, Rosnedra, and regional authorities. In the event of several applications for one plot, the right is received by the company that first provided the package of documents, unless grounds for refusal are identified.
New orders from the Russian Ministry of Natural Resources will come into force on September 1, 2024, together with changes in legislation.