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    Friday, February 29, 2008

    Yuschenko Instructs Cabinet To Draft Bills Improving Exploration, Use, And Protection Of Mineral Deposits

    President Viktor Yuschenko has instructed the Cabinet of Ministers to draft and submit to the Verkhovna Rada a set of bills to improve the exploration, use and protection of mineral deposits.

    Ukrainian News learned this from presidential decree No.173/2008 on some measures to improve the regulations of mining.

    In particular, Yuschenko gives the Cabinet of Ministers three months to draft and submit amendments to the Code of Subsoil, the Land Code, the law on product sharing agreements, other legislation acts to introduce simpler procedures of the allocation of land for the mining of mineral resources of national importance.

    The Cabinet of Ministers has until January 1, 2009, to draft and submit to the Verkhovna Rada draft bills on special permits for subsurface use, on amendments to the national program of the development of the mineral resource base until 2010 specifying the goals of the program and extending it until 2030.

    The decree further reads that Yuschenko instructed the Cabinet of Ministers, the Security Service of Ukraine, the Prosecutor General's Office to jointly check within six months the observation of the legislation with the issue of special permits (licenses) for subsurface use.

    As Ukrainian News earlier reported, on February 27, the Cabinet of Ministers of Ukraine endorsed a procedure for holding in 2008 auctions on the sale of special permits (licenses) for subsurface use.

    The Cabinet of Ministers intends to amend the law on product sharing agreements during the development of subsurface.

    The law on product distribution agreements was adopted in 1999.
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