Mining Licence

SStartrade Tech Inc. is pleased to announce that Rosnedra, the Agency for Subsoil Use of the Russian Federation, has accepted and is working on the issue of three licences for the survey and extraction on the territory previously considered by a single licence.

This is a federal government body, which manages the state property in the field of use of subsoil. In particular, it issues subsoil licences, controls performance of licence holders and compliance with the terms of licences and terminates rights to use subsoil.

(https://uk.practicallaw.thomsonreuters.com/8-527-3227?transitionType=Default&contextData=(sc.Default)&firstPage=true&bhcp=1)

This decision is connected to the fact that single licences can’t be issued for plots exceeding 100 sq. km anymore.

With these licences secured the continuation of survey work, subsequent evaluation and certification of reserves may be concluded ensuring the notification of initial primary 3 to 5 tonnes of gold reserves to the State Balance.