Serbia mining: New law on mining and geology research, Protecting the interests of the state and investors, the report

11. December 2013. / Mining

The new law will simplify procedures for investors, but also will provide benefit to the state as the owner of mineral resources. Law provides that the approval implicated on geological researches and approval for mineral resources exploitation and other geological resources can be transmit on other company, namely on other legal person or entrepreneur, in accordance with the conditions prescribed by the law. Also all rights and obligations are transmitted with the approval transmission according approval for geological researches on approved exploited area.

Mr Tomisalav Subaranovic, state’s secretary in the Ministry of natural resources, mining and spatial planning, has presented draft of the Law on geological researches and mining on the Third International Conference on Mineral Resources.

Law provides that the approval implicated on geological researches and approval for mineral resources exploitation and other geological resources can be transmit on other company, namely on other legal person or entrepreneur, in accordance with the conditions prescribed by the law. Also all rights and obligations are transmitted with the approval transmission according approval for geological researches on approved exploited area.

Mineral raw materials and other geological resources of strategic significance for the Republic of Serbia are, according to the law, all energetic mineral raw materials, metallic and other mineral raw materials and geological resources, which are determined by the Management Strategy of geological resources. Law allows export of the strategic mineral raw materials in the form of run-of-mine ore. At the request of approval carrier for researches it is possible strategic partnership with the Republic of Serbia, which will be achieved by the joint company foundation and the contract signing on the strategic partnership, in which will be defined share of the strategic partners, type of investment and management in the company, and also all oher obligations of the strategic partners.

Law provides that geological researches report and elaborate on geological researches, elaborate on mineral raw materials resources, can perform the company, namely legal person and entrepreneur which is inscribed in the register of economic units, founded for these activities performance and which does not have a license.

Implicated geological researches are approved to the period of 3+2+2 years. In the especial case, when the research carrier finds an economic important minerals deposit in the second prolonged deadline or supposes existence of such deposit, he can submit request for the additional extension of the research deadline, which cannot be longer than two years period. The mining projects include main mining project, technical mining project, mining project on the researches of solid raw materials, simplified mining project for the activities in research and exploitation of oil, condensate, natural gas and geothermal energy.

Source; Serbia Energy mining desk

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