Lawyer: Russia may allow people to produce gold

MOSCOW, Mar 23 (PRIME) -- The government's commission for legislative drafts has approved an initiative to allow households to mine gold, Chairman of the Association of Lawyers of Russia Vladimir Gruzdev told PRIME on Thursday.

"The prepared legal initiatives are aimed at creating new economic opportunities for the people and solving multiple social and economic problems,” Gruzdev said.

“The people cannot be subjects producing precious metals today. Only companies with the licenses for natural resource use after participating in an auction or a competition can produce gold legally."

He also said that legal gold production is possible only on registered deposits.

Under the bill, a person who wants to produce gold must register as an individual entrepreneur, get a license and will be able to work on only one up to 10-hectare deposit under a free-of-charge 3-year agreement, with one 3-year rollover, and hire no more than 10 people.

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