The State Geological Service published a report on the verification of mineral reserves of Ukraine
On the State Geological Portal, the State Geology and Subsoil Service of Ukraine published a report on the verification of reserves of strategic and critical minerals using international classification systems, in particular the UN Framework Classification of Resources.
“Verification of reserves of critical and strategic minerals according to the international system will help Ukraine to integrate into the global mineral resources management system. This not only increases the transparency and reliability of data, but also makes our country more attractive for investments and strengthens its role in ensuring the security of raw materials in Europe,” emphasized Oleg Hotsynets, head of the State Geodesy.
Ukraine has a unique mineral and raw material base, the wealth of which is due to the peculiarities of the geological structure of the territory. It is one of the world’s leading producers of a number of minerals, including such important resources as manganese, titanium and graphite.
At the behest of the State Geodesy, the State Commission of Mineral Reserves of Ukraine carried out an inspection and reassessment of strategic and critical materials and raw materials according to the UNCC international system and prepared a report. The document describes the resource base of unlicensed deposits and subsoil areas with deposits of aluminum, barite, vanadium, germanium, graphite, iron, gold, potassium salts, lithium, magnesium salts, manganese, nickel, ores of rare metals and rare earth metals, silver, strontium, tantalum, niobium, titanium and zircon.
The classification was developed taking into account the needs of various raw material sectors and fields of application and fully complies with the principles of sustainable resource management. The UNFCCC is a world-class universal system in which resources and reserves are assessed according to three basic criteria.
Criterion E determines the favorable environmental, social and economic conditions for the viability of the project, including market, legal, regulatory, environmental and contractual aspects.
Criterion F characterizes the technical and technological soundness of the project, determining the degree of technology development, research and necessary commitments for its implementation. Criterion G shows the level of reliability of the estimate of the volume of production that is expected to be obtained after the implementation of the project.
