Enhancement of the efficiency of underground resource management due to harmonization of mineral reserves reporting standards of the State Reserves Committee and NAEN, and reform of the Mineral Law

I. V. Epshtein

The main problem of the Russian underground resource management is the incompatibility of outdated government regulation mechanisms inherited from the practice of the socialism period with the current market conditions, and even with the common sense. In 1990s the Russian legislation made a dramatic leap-ahead, however the reform was stopped at that point and all efforts were reduced to some cosmetic amendments of norms developed for state rather than private property environment. The lack of progress of the mineral reserve management reform in the latest 20 years has resulted in the aggravation of the key problems of the Russian underground resource management.

Key words: underground resource management, Russian legislation, mineral resource management, investments, efficiency, Mineral Law, refining of reserves estimates, cut-off grade ore, control of reserves mining

Mining Industry Journal №6 2013, p.32