The Cabinet of Ministers of Ukraine has initiated a comprehensive review of inactive and problematic special permits for the extraction of strategic minerals and hydrocarbon deposits. The study is being conducted to ensure transparency in the field of subsoil use and to enhance the efficiency of natural resource utilization.
This is reported by Finway
Scope of the Review and Main Issues
According to the analysis conducted by the Ministry of Economy and the State Service of Geology and Subsoil, it has been found that for 29 licenses for strategic minerals and 10 licenses for hydrocarbon deposits, extraction has either not commenced or the work program has been significantly violated. Half of these permits were issued more than ten years ago, indicating a prolonged period of ineffective use of the granted rights.
“The Ministry of Economy and the State Service of Geology have analyzed the existing licenses. For 29 licenses issued for strategic minerals and 10 for hydrocarbon deposits, extraction has not commenced or the work program is significantly violated. Half of them were issued over 10 years ago,” she reported.
New Decisions on Subsoil Management and Sanctions Policy
The government emphasizes that further decisions regarding problematic special permits will be made in accordance with current legislation. A priority is to create a modern ecosystem for the extraction, processing, and production of value-added products in the field of critical minerals. Ukraine aims to synchronize its policy with partner countries, particularly the United Kingdom, and is actively implementing additional sanctions against the fugitive oligarch Dmytro Firtash. This opens up the possibility for the cancellation of three special permits in the Zhytomyr and Dnipropetrovsk regions.
Furthermore, in the case of the Malyshevskyi deposit (Motronivskyi mining and processing plant), restrictions also apply to the limited liability company “Tiberius Plus,” which attempted to circumvent the sanctions.
Strategic assets that have fallen under sanctions or have not been properly utilized are planned to be transferred to new investors through open auctions. According to Prime Minister Yulia Svyrydenko, this will facilitate the effective operation of Ukrainian subsoil in the interests of the economy, state security, and Ukraine’s integration into the global supply chains of strategic partners.