Russian President Vladimir Putin has signed a law extending the term for the use of mineral resources for geological prospecting from five to ten years, the Kremlin press office said on Monday. The analysis of the use of mineral resources has shown that the current term of five years may prove to be insufficient to carry out geological prospecting. The law, which was passed by the State Duma, the lower house of Russia's parliament, on November 16 and approved by the Federation Council, the upper house of Russia's parliament, on November 23, applies to the deposits of internal maritime waters, territorial seas and the continental shelf.

RIA Novosti


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