Bonus for discovery of new deposits has been increased in Russia

​The Government of Russia has increased the bonus for the discovery of new deposits of mineral resources: up to 9 mln roubles – for the discovery of unique deposits; up to 5 mln roubles – for large deposits; up to 500 thousand roubles for other deposits.

“It will contribute to the rise of interest of workers of the geology sector in the discovery of new deposits and rise of efficiency of holing geological-exploration works”, is reported. The Ministry of Natural Resources has worked out the respective regulation.

The amount of bonus is determined based on the statistics of payment for past years as well as on the results of experts’ assessments taking into account the rate of the mineral extraction tax counted for the average annual capacity of the extraction company for oil and gas deposits and hard mineral resources. The bonus will be paid in proportion with the number of physical bodies participating in the discovery of a new deposit not later than on May 1st of the financial year following the year in which the period for filing the application for bonus payment expires.