Tag Archives: Sakha

Amendment to the Russian subsoil legislation: exploration licenses for remote properties will be extended to 7 years


Russian President Vladimir Putin signed amendments to the Russian subsoil legislature which extend geological study licenses for remote acreages located fully or partially within the boundaries of Sakha Republic (Yakutia), Kamchatka Krai, Krasnoyarsk Krai, Khabarovsk krai, Irkutsk Oblast, Magadan Oblast, Sakhalin Oblast, Nenets Autonomous Okrug, Chukotka Autonomous Okrug, Yamalo-Nenets Autonomous Okrug from 5 to 7 years.

The amendments were issued on 23 July 2013 under the Federal law No. 227-FZ “On Amendments to the Law of the Russian Federation “On Subsoil”, which was passed by the State Duma on 3 July and approved by the Federation Council on 10 July. The new law will come into effect on January, 2014.