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Re-estimation of Reserves of Natural Resources Every 5 Years Should Be Cancelled Re-estimation of Reserves of Natural Resources Every 5 Years Should Be Cancelled
The Cabinet of Ministers of Ukraine discussed Draft Resolution on cancellation of the requirement for re-estimation of natural resources reserves every 5 years. The American Chamber of Commerce in Ukraine emphasized on the necessity to cancel this requirement, since it leads to additional financial and bureaucratic burden on production companies. Moreover, re-estimation of reserves of natural resources increases the production cost of subsoil exploitation, blocking new investments in upstream sector. The Cabinet of Ministers of Ukraine supported the offer to cancel the requirement for re-estimation of natural resources reserves every 5 years.
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