Russias Mining Fiscal Regime: H1 2014

791 words - 4 pages

Russias Mining Fiscal Regime: H1 2014 Synopsis Timetric’s Russian fiscal regime report outlines governing bodies, governing laws, licenses, rights and obligations and tax-related information on 10 commodities: coal, iron ore, copper, zinc, bauxite, gold, silver, nickel, chromium and manganese. Executive summary Russia has a range of natural resources, including oil fields, coal deposits and many strategic minerals. However, adverse climatic conditions and remote locations make the exploitation of resources difficult. The mining industry in Russia is governed by the Ministry of Natural Resources and Environment of the Russian Federation, and the Federal Agency on Mineral Resources. The ...view middle of the document...

The Federal Service for Surveillance in the Sphere of Nature Use is responsible for monitoring environmental protection and subsoil use by license holders. The agency also forwards information on breaches of license terms to the Federal Agency for Subsoil Use. The Subsoil Law is the main law in the mining industry, providing all relevant laws and regulations regarding subsoil use in the Russian Federation. Other regional laws on subsoil are also applicable to the mining industry. table Of Contents

1 Executive Summary 1

2 Russia’s, Governing Bodies 4 2.1 Ministry Of Energy Of The Russian Federation 4 2.2 Federal Agency For Mineral Resources 4 2.3 Ministry Of Natural Resources And Environment Of The Russian Federation 4 2.4 Federal Service For Environmental, Technological, And Nuclear Surveillance 4 2.5 Federal Service For Surveillance In The Sphere Of Nature Use 4

3 Russia’s, Governing Laws 5

4 Russia’s, Mine Ownership And Business Licenses 6 4.1 Subsoil Ownership 6 4.2 Business Licenses 6 4.2.1 License For The Geological Exploration And Assessment Of A Subsoil Plot 6 4.2.2 Production License 6 4.2.3 Combined Geological Research, Exploration And Production License 6 4.2.4 Termination Of License 6

5 Russia’s, Mining Rights And Obligations 7 5.1 Rights 7 5.2 Obligations 7

6 Russia’s, Key Fiscal Terms 8 6.1 One-time Payments,...

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