A new system of mineral reserves audit will be developed in Russia

Russia and China are negotiating mutual recognition of mineral reserves classification systems. This was announced by the adviser to the head of Rosnedra Dmitry Oleinik during a round table in the State Duma.

"Today, we are negotiating with China on mutual recognition of classifications [of mineral reserves] so that Chinese investors can work in Russia, and Russian — in China," he said.

Oleinik added that Russia already has similar intergovernmental cooperation agreements with Belarus, Tajikistan and Uzbekistan. "Cooperation with South Africa, Ethiopia and a number of other countries is being discussed," he said.

The adviser to the head of Rosnedra also drew attention to the fact that before the start of a special military operation, an audit of hydrocarbon reserves in Russia was conducted by American companies. According to him, the simultaneous withdrawal of these companies from the Russian market created, on the one hand, a problem, and on the other, opportunities for creating their own inventory audit system. "Now, as a country with a huge geological school, with huge achievements in the field of geology and advanced geological science, we can lead the processes that are overdue in the world," Oleynik stressed.

In his opinion, the rethinking of the international system of mineral reserves audit on new principles can become a strategic achievement in the struggle for the sovereignty of mining countries. "The new system [of inventory audit] is highly likely to be used by the BRICS countries, the SCO and other international associations that pursue a policy independent of Western countries," Oleinik concluded.