Official: Russia’s mineral reserve estimate system at early stage

MOSCOW, Mar 17 (PRIME) -- Russia's system of mineral reserves assessment is at an early stage of development, and the deadline for its completion is unclear, Dmitry Kobylkin, chairman of State Duma's committee for resources and environment protection, told PRIME on Friday.

"It is hard to speak about the timeframe, we have to decide whether we are able to create it or not, whether everything is ready for this. The bill on reserves audit is under discussion by expert teams," Kobylkin said adding that the opinion of the producers and banks is important for authorities.

Evaluation of Russia’s hydrocarbon reserves is done by U.S. auditors, of hard mineral reserves, as a rule, by experts authorized by the Australian Institute of Geoscientists.

Kobylkin suggested in February establishing Russia's own audit system.

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