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Overseas Mining Laws

Russia

Russia

Taken together Russia's extractive industries constitute 33% of Russia's GDP.

Code:

The NAEN Code for the Public Reporting of Exploration Results, Mineral Resources, Mineral Reserves

National Mining Legislation:

'On Subsoil', February 21, 1992 – Law of the Russian Federation No. 2395-I
'On Procedures for Foreign Investments in Companies of Strategic Significance for National Defense and Security', April 2008, which is a Federal Law amending 'On Subsoil' that imposes restrictions on foreign investors seeking to buy shares or acquire control over Russian companies that are deemed strategic

Useful Links:

Committee for Mineral Reserves International Reporting Standards

Mining updates available via the website of The Executive Branch of The Russian Government

E&MJ Engineering and Mining Journal – Mining in Russia

The Federal Ministry is the principal authority responsible for regulating the activities of the Russian mining sector. It grants (in conjunction with regional authorities) subsoil use licences and issues documents with respect to subsoil use procedures, controls the technical aspects of mineral deposit exploitation and determines the boundaries of mining allotments (which define the subsoil blocks from which natural resources forming the subject matter of any licence may be exclusively extracted). All activities of the State Mineral Reserves Commission, the Central Mineral Reserves Commission and the various territorial commissions conducting registration and expert examination of mineral reserves on behalf of the state fall within the jurisdiction of the Federal Ministry.

The State Mining and Industrial Inspectorate also plays an important part in the functioning of the Russian mining sector. Amongst other things, it issues instruments creating mining allocations and grants permits covering hazardous industrial production.