It includes specifications for exploration methods, calculations of mineral resources and reporting. The end result of the exploration work is a three-dimensional model of a gold bearing ore body, the content of which can be calculated through measuring concentrations in the ore and calculations of the volumes.

In general, the amount of accuracy increases as a result of the number of holes and density between them. A finalized exploration report, conducted according to a generally accepted standard, constitutes the basis for a decision russia profitable production is possible.

Gold deposits that have been confirmed according to an accepted standard are often russia as providing enough security to be granted bank loans in order to finance acquisitions or production plants and may gold highly valued even before production has been initiated. Exploration activities are conducted in several stages, with a decision taken to proceed or not with further explorations after each stage.

These reports are based on the transparency, competency and relevancy of the competent person as well as the operations and process that are being evaluated. The Russian mining leaves less scope for professional estimations, being more based on a detailed and objective description of how the process should be conducted.

It includes specifications for exploration methods, calculations of the mineral resources and reporting. Gold approvals of calculations of mineral resources and ore reserves in Russia are made by GKZ, which is the state authorities dealing with major deposits. Mineral resources and ore reserves The Russian system uses a distinct system to classify mineralizations according to a number of qualities and characteristics.

There are three main categories and seven sub-categories: When deciding on commencing mining operations, normally the categories A, B, Gold and C2 are taken into consideration.


This means that these categories could be roughly compared gold the international system when it comes to measured and indicated ore reserves. Legal framework In accordance with the Constitution of the Russian Federation, mining and mining rights are gold joint competence of mining Russian Federation and its constituent bodies. As a result, the mining mining comprises federal legislative acts and regional legislative acts. As a general rule, both Russian and foreign individuals as well as legal entities joint ventures can be holders of mining rights.

Terms of mining rights Terms of mining rights differ based on the type of mining rights and type russia deposit; for instance, mining rights for extraction of natural resources can be granted for a term specified in the technical and economical substantiation concerning the particular mining area. Grounds for provision mining mining rights The Subsoil Law enumerates various grounds for provision of mining rights, including: The license is issued by statutory authorities and is supplemented by the mining terms and conditions or contract.

The mining terms and conditions cannot contravene the provisions of the license. Licenses can be suspended, revoked or limited if a holder of mining rights the license-holder violates the Subsoil Law or requirements or obligations set forth in the license or, as the case may be, in the mining terms and conditions gold the contract.

Suspension, revocation gold limitation of the license can be challenged either in court or administrative proceedings. Industrial safety and mining production facilities Both the Subsoil Law mining the Law on Dangerous Production Facilities impose quite stringent requirements and obligations on the holders of mining rights.