Ukrainian Geological Survey is ready to prepare the final version of the updated the Subsoil Codex of Ukraine

Ukrainian Geological Survey is ready to take responsibility and prepare the final text of the Codex and submit it to European partners for approval in order to speed up the process of completing the relevant draft law, work on which has been suspended, reports the agency's press service.

According to the Service, the finished text of the new version of the Codex was planned to be completed in the spring and submitted to the parliament for consideration. A number of working meetings were held with the participation of representatives of the Ministry of Energy, the Federation of Employers of Ukraine, people's deputies, industry experts, and specialized business associations. Subsequently, the work was transferred to the Europeans, who were supposed to complete the document, but due to covid-19 and restrictive quarantine measures, the process stopped. Therefore, the head of the Ukrainian Geological Survey, Roman Opimakh, took the initiative to complete all the necessary work to finalize the long-awaited document.

It will be recalled that the working group that worked on the Codex and included representatives of the Ukrainian Geological Survey agreed on a number of key points, such as the granting of special permits based on the results of transparent auctions, the liberalization of the circulation of licenses, the digitization of all primary geological information and free access to it, the validity periods of licenses for geological study and mining, — the updated rules of the market were discussed with subsoil users and their comments were taken into account.

The Ukrainian Geological Survey assures that if they receive a mandate to complete the working version of the Codex, in two months market players will have the hope of seeing clear rules that will regulate the interaction between all industry participants.