Ukraine has lifted the secrecy of geological data on most minerals, including strategically important minerals. The Minister of Environmental Protection and Natural Resources, Svitlana Hrynchuk, announced the completion of the procedure for lifting the secrecy designations that had been in place since the Soviet era. This decision will simplify cooperation with investors and businesses.
At the 'State and Business Forum: From Dialogue to Partnership', the minister confirmed the completion of the procedure for lifting the secrecy designations. 'The designation has been lifted, we are now finalizing all bureaucratic procedures so that we can fully work with investors and businesses without this barrier,' Hrynchuk stated.
The process of digitizing geological information continues with the support of the European Bank for Reconstruction and Development. The minister emphasized that the amount of available objective information about deposits is constantly growing.
Digitization of Geological Data and International Collaboration
Negotiations are also underway with the American Development Finance Corporation (DFC) to expand the project of digitizing geological data. Some valuable information is still preserved in paper form, which complicates its use. In addition, agreements have been made for the sale of minerals through auctions or production-sharing agreements.
Ukraine has lifted the secrecy from geological data on most minerals, which will facilitate the development of cooperation with foreign investors and improve the management of the country's natural resources.