In 2011-2014, Rosnedra overstated prices of geological exploration

Russian Audit Chamber (AC) has criticized Rosnedra for inefficient spending, overstatement of the government contracts cost and lack of competition in conclusion of contracts for geological exploration, the AC officially reports.

The Audit Chamber’s Board considered a report on the audit of effectiveness of draft on the budget’s funds for geological exploration "in order to reproduction of the mineral resource base in 2011-2013 and in the past period in 2014". According to auditor Bateau Zhargal Zhambalnimbuev, the amount of the budget’s funds, spent by Rosnedra for geological exploration, amounted to more than 114.8 billion rubles in the audited period, and the budget allocations for this purpose has been rising annually. For example, in 2014 it was more than 35 billion rubles, exceeded the appropriations in 2011 1.8 times.