The State Geological Survey prepared 60 plots for auctions for the sale of licenses for subsoil use.

Auctions for the sale of subsoil use licenses

During the VII Congress of Geologists of Ukraine, Oleg Hotsynets, head of the State Service of Geology and Subsoil of Ukraine, announced the possibility of selling 60 plots at auctions and 26 for production sharing agreements.

Ukraine is interested in developing the mining industry using critically important materials. To achieve this goal, it is planned to prepare and publish a portfolio of investment projects for electronic auctions.

“28 critical and 11 strategic materials have been submitted for government approval. According to these lists, a portfolio of subsoil plots that can be submitted for auctions and production sharing agreements has been prepared,”

The State Geological Survey plans to conduct auctions and production sharing agreements in compliance with environmental protection requirements during subsoil use.

The number of sites for auctions and the implementation of agreements may change depending on updates to legislation. There are also difficulties in developing a methodology for classifying minerals as strategic and critical, which is planned to be solved with the help of European partners.