In Ukraine, 3,500 deposits of 20,000 were developed – geologists

In Ukraine, 20 thousand deposits were explored, but approximately 3.5 thousand deposits were developed. This was said by the President of the Union of Geologists of Ukraine Pavel Zagorodnyuk in Ukraine’s Geologists Congress on Wednesday, May 14, reports Ukrinform.

The specialist recalled that thanks to the efforts of the present and previous generations of geologists in Ukraine, 20 thousand deposits and display of 105 types of minerals were explored. But approximately 3.5 thousand deposits were developed.

“Most – because of Soviet times. Thanks to privatization processes, they are largely operated by private businesses. And new deposits are practically not revolt. The chronic problem of” sleeping “licenses is when there is no work in explored and promised places,” he said.

According to Zagorodnyuk, this industry is complicated, as each mineral developer faces serious challenges – technological, social, etc.

“Therefore, it is very important that a resource agreement has been signed in the United States. After all, at least a few hope has emerged that real investment will come to exploration and use of the subsoil,” he added.

Remember, on May 1, the Ukraine and the United States signed an agreement on creating a combined investment fund of restoring with equal participation of both parties.

The fund will be created in conditions of consistency – 50% of participation on both sides and with equal voting rights. Ukraine maintains complete subsoil control, infrastructure and natural resources. The agreement does not provide for any debt obligations – it is exclusively about investments, not loans.

The United States explained that it would give Ukraine a subsoil agreement