This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.

The head of Rosgeologiya OJSC: The Law on TORs should ensure the inflow of investments into geological exploration in the Far East

General Director of JSC Rosgeologia Roman Panov expressed his opinion on the law on ASEZ.

“We hope that the adoption of the law on advanced development territories (TOR) will positively affect the development of the mining complex in Russia and will be an important and positive addition to the policy on attracting investment in Eastern Siberia and the Far East, which the state is implementing today.

These regions are, perhaps, the most promising, both for the development of the mineral resource base in Russia, and for the economy of our country as a whole.

We have repeatedly said that now their territory is poorly studied geologically, there are many "white spots" here and there are good opportunities for making meaningful discoveries. However, the volumes of geological exploration conducted here today are extremely small and clearly insufficient for the effective development of the mining complex. Exploration is carried out in limited quantities, mainly regional works (early stages of the study of the territory, allowing to assess its prospects and draw conclusions about the feasibility of further research) financed from the budget. Private investment in geological exploration, despite all the prospects of the region, is practically not implemented.

It is very important from this point of view that the draft law on TORs proposes to establish a ten-year reduction factor at the rate of the mineral extraction tax.

This should be a serious incentive for investors to go into geological exploration, to embark on the implementation of mining projects.

In conjunction with other benefits provided by the bill, it can also contribute to the development of a junior business in the extractive complex. The work of just such companies in many respects contributed to the study of the territory of Canada, Australia, which are generally recognized world leaders in the extraction of mineral resources.

It should be remembered about the need for an integrated approach to the development of territories. A primary geological study of the region would allow to correctly plan the development of its resources, which would minimize the cost of building infrastructure, solving the transport issue, and providing energy supply. And here Rosgeology, as a specialized operator, would be ready to offer the implementation of such a program as quickly as possible, as much as possible. ”

September 18: current information on coronavirus in the Far East
Digest of regional events and latest statistics