Serbia prepares new mining exploration law: Attractive to investors, to ensure new technology transfer and better control of exploration rights

, Mining

The Serbian Law for Mining will bring change of mining rent fees’ amount, bigger investment in mining and geology with keeping control package of stocks from Serbia, and protection of domestic natural resources, stated Minister of Natural Resources and Spatial Planning of Serbia, Milan Bačević.

“Amount of mining rent fee will be changed”, said Bačević, but he can’t precise how much they will amount for certain mineral metals until the proposal is adopted.

The main change related to the mining rent fee is that we have given our natural resources for nothing, so far- gold, lead, zinc, copper and other resources. None of foreign companies have brought new technologies in Serbia or employed many Serbian citizens. We want to make a change, stated Bacevic.

When the new technologies arrive and final product is done, mining rent fee should be increased. It is only rental practically i.e. salary of one mineral material, explained Bačević.

Only when we get finished product, mining rent fee should be increased, what will contribute to filling budget of Serbia, Minister said.

Installing of new technology

Serbia is ready to give 49% of ownership to investing companies when it comes to installing of new affordable technology in the mining, which doesn’t endanger environment and health of people, but on condition that state keeps control package of shares, Bačević précised.

He announced that the draft of new mining law will be presented to many experts in that area until the end of January. That will be a form of public discussion- Bačević said and showed expectations that Serbian government will adopt it afterwards.

Many quality proposals for changing the law were delivered and all solutions that are better than previous will be adopted, Minister said. He is convinced that it will be the law for better life, it will enable investing and profit from mining and geology, but also protection of natural resources in Serbia.

The law will be part of Serbian spatial plan and it will be contributed from time to time. It will improve work conditions to companies which do geological and mining research. It will also make research results available to interested investors, and protect natural resources over mining rent, Bačević underlined.

Control of exploration rights

He announced the sharpening of mining exploration rights’ control in mining and geology.

“Control process of companies that met its obligations to the law is in progress. And those companies that didn’t, will have not these rights anymore and somebody else who did, will get it, Minister stated.

The new mining law should enable geological and mining research on the territory of Serbia which has not been researched yet, and it will make strategic decisions for Serbia more easily.

Source Serbia Energy Magazine