Arseniy Yatsenyuk: Licenses for resource extraction should be sold through public auctions

Licenses for extraction of mineral resources should be sold through open auctions and competitions, said Prime Minister of Ukraine Arseniy Yatsenyuk on Thursday, March 12, during the Public report presented by the Cabinet of Ministers of Ukraine following one hundred days of their activities.

The Prime Minister appealed to the Minister of Environment and Natural Resources of Ukraine Ihor Shevchenko and stressed the need to move forward from joint activity agreements (JAA) in the area of development of mineral resources, "which implied an exceptionally corrupt component" to product sharing agreements (PSA).

"We ought to encourage real investors instead of corrupt bureaucrats who have an access to signing of joint activity agreements", urged Arseniy Yatsenyuk.

"These two tasks should be completed by the end of year", he stressed.