Some bedtime reading23 May 2021 00:06
Russia’s strategy for the development of mineral resources to 2035. Recognises the importance of supporting junior explorers and for me suggests EUA has proven itself by way of the Rosgeo JV.
http://static.government.ru/media/files/WXRSEBj6jnRWNrumRkDakLcqfAzY14VE.pdf
“For the development of new industrial territories, it is planned to support early-stage geological exploration at the expense of the federal budget and the creation of a special tax regime to attract private investment. An important condition for the accelerated development of new territories is an increase in the role of the executive authorities of the constituent entities of the Russian Federation by transferring to them part of the authority to manage certain types of minerals, depending on the types and sizes of deposits.
In developed industrial regions (West Siberian, Volga-Ural, Timan-Pechora oil and gas provinces, Kursk magnetic anomaly, Ural, etc.), it is necessary to take measures to stimulate effective subsoil use, including through updating the technical, economic, technological and mining and economic indicators of field development based on the implementation” Page 14.
“IX. Economic incentives for the development of the mineral resource base of the Russian Federation In order to stimulate the geological study of subsoil, reproduction and development of the mineral resource base of the Russian Federation, it is planned to improve the regulatory framework for subsoil use, the system of taxes and payments, and expand the activities of small and medium-sized businesses.
Improving the regulatory framework for subsoil use provides for:
establishment of the procedure for a multi-level assessment of the predicted mineral resources of the distributed and unallocated subsoil fund;” Page 15.
“The federal budget will finance: regional geological study of subsoil and related thematic, experimental, methodological, research and development work, as well as geological exploration in the framework of Russia's fulfillment of international contractual obligations;
software and technical re-equipment of the federal fund of geological information and its territorial funds to ensure the functioning of a unified fund of geological information about the subsoil.
Until 2025, the state will be responsible for funding the exploratory stage for work aimed at creating prospecting work on the reproduction of the mineral resource base of these types of minerals will also be carried out at the expense of subsoil users.” Page 21.
“The necessary development of small and medium-sized exploration companies will provide additional investments in the exploration industry for the early stages of geological exploration, increase the level of subsoil exploration in order to increase the volume of reproduction of the mineral resource base and the discovery of new deposits.” Page 25.
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