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28
March
2023

Lower limit for guarantee fee at auctions sell subsoil use licenses doubled – resolution

KYIV. March 28 (Interfax-Ukraine) – The Cabinet of Ministers of Ukraine has made changes to the procedure for holding auctions for selling subsoil use licenses, in particular, by doubling the lower limit for the guarantee fee paid to participate in electronic trading.

Resolution No. 247 dated March 21, 2023 was published on the government website.

According to it, the guarantee fee is still 20% of the initial cost of the lot, but its lower limit for the first auction has been doubled. Thus, for minerals of strategic and defense importance, the lower limit is UAH 10 million, for hydrocarbons – UAH 20 million, for other minerals – UAH 1 million. In addition, the lower limit of UAH 2 million has been set for deposits containing sand.

The lower limit for repeated auctions has also increased. So, for the first repeated auction, the established guarantee fee is doubled, for the second it is increased five times, for each subsequent – 15 times.