The Cabinet of Ministers of Ukraine approved the new Methodology for determining the initial price of subsoil use licenses (Methodology), following which the initial price of the license will be determined based on resources and reserves availability on a given field or subsoil plot and fixed unit value.
Experts of the Chamber member companies actively discussed the draft of this Methodology with representatives of the State Service for Geology and Subsoil of Ukraine and repeatedly stressed the importance of introducing a transparent and comprehensible mechanism for determining the initial price of subsoil use licenses.
Inter alia, the new Methodology takes into account the following Chamber's proposals when determining the volume of marketable products for other minerals:
- to consider the type of minerals
- to consider the quality of explored reserves (the content of basic components, composition and technological properties)
- to consider the deposit's mining and geological conditions (including the complexity of geological structure, depth, hydrogeological and engineering-geological properties)
The American Chamber of Commerce in Ukraine welcomes the steps of the Cabinet of Ministers of Ukraine aimed at establishing transparent rules of the game for subsoil users and is ready to continue the dialogue for their further improvement.