Yulia Svyrydenko: Government streamlines management in subsoil use

The Government is consistently strengthening and streamlining management in the field of subsoil use. This was announced by Prime Minister of Ukraine Yulia Svyrydenko.

“Ukraine is moving towards the formation of a modern ecosystem for extraction, processing, and the creation of value-added products in the field of critical minerals. We have something to offer to partner countries and must manage our subsoil effectively,” noted the Head of Government.

The Government is conducting an audit of “dormant” and problematic special permits for strategic minerals and oil-and-gas-bearing subsoil. The Ministry of Economy, Environment and Agriculture and the State Service of Geology and Subsoil have analysed the existing licences. For 29 licences issued for strategic minerals and 10 for oil-and-gas-bearing subsoil, extraction has not commenced or the work programme is substantially violated. Half of them were issued more than 10 years ago. Appropriate decisions will be taken regarding them.

Yulia Svyrydenko also reported that Ukraine is aligning its sanctions policy with the United Kingdom and is initiating additional restrictions against Dmytro Firtash. This creates the legal grounds for the cancellation of three special permits in Zhytomyr and Dnipropetrovsk regions. In the case of the Malyshevske deposit (LLC “Motronivskyi Mining and Processing Plant”), sanctions are also being applied to LLC “Tiberius Plus”, which was involved in an attempt to remove the special permit from sanctions.

“Strategic assets will subsequently be transferred through transparent auctions to new investors,” emphasised the Prime Minister. “Ukraine’s subsoil must work effectively in the hands of honest business for the economy of Ukraine, its security, and for the integration of our country into the supply chains of our strategic partner countries.”