Mining Act

(revised:

40950

RIA News/Prim. The President of Russia, Vladimir Putin, has signed a federal law which allows State companies to extract, in a simplified manner, satellite minerals at the same time as the main minerals. The document was published on the official legal information portal on Monday.

Previously, the Director of the Department of the Ministry of Natural Resources, Alexei Orel, explained that this would enable companies to legally extract, for commercial use, satellites that are extracted for technological reasons in conjunction with the main minerals, or are identified in the exploration and exploitation process.

He drew attention to the fact that the lack of capacity to extract minerals created an absurd situation, for example, when a user licensed to extract diamonds, while producing diamonds, extracts gold from sand. But since the license does not record the possibility of gold mining, the gold is stored and in fact a situation where gold goes into technogenic waste.

Under the law, the extraction of by-pass minerals (except by-water, hydrocarbons and general-exported minerals) not licensed is permitted by non-trust users, jurli, whose statutory capital share of RF participation in the region together exceeds 50 per cent, as well as by " glasses " of such jurlices. But this will require a state-of-the-art assessment of mineral resources and a change of license.

Licensing for the use of the subsoil and its constituent parts will have an agreed level minerals and byput minerals (if any), as well as an indication of the owner of the raw materials, including byput, if any.