The new Code ‘About Subsoil’ will make Ukrainian minerals production even more attractive

Yesterday, the Cabinet of Ministers agtreed the new edition of the Code ‘About Subsoil’ limiting the influence of the state bodies to the process of th granting of the permissions to their production. The document also allows to freely sell the licenses and to pledge them. The market participants think that the changes will remove juridical collisions and make the sector even more attractive for the investors. However the possibility remains for the execution of the tenders for a concrete buyer, the experts warn.

The Minister of Ecology and Natural Resources, O. Proskuryakov says that yesterday the Cabinet of Ministers agreed the new edition of the Code ‘About Subsoil’. He promises that within 2 weeks the project will be presented to the Parliament. The First Deputy of the fraction of the Party of the Regions in Verkhovnaya Rada M. Chechetov claims that most are ready to vote for the law project because admission of the Code ‘About Subsoil’ can attract private investment.