On October 29 the High Miners Council of Russia held a meeting devoted to the new law “On Natural Resources”. Several reports were made and they provided the information about the changes in the sector legislation. In particular, the new law is expected to guarantee that the conditions of deposits exploitation will not be changed for those companies, which have bought the deposit before the law coming into force. The new law will clearly divide the rights of the Russian Federation and its regions, while the principle of the key decisions making is remained at the federal level.

One of the most important changes is the procedure of deposits allocation and special auctions organisation. Contests will not be generally take place as they failed to bring the results expected and assist in corruption development.