Kovtun suggested to reduce the payment for use of mineral resources in the North

© RIA Novosti / Michael Clientgenerated in potamanthidae the Murmansk region Marina Kovtun. Archival photoKovtun suggested to reduce the payment for use of mineral resources in the North© RIA Novosti / Michael Clientgenerated the image Bank

The decrease in the amount of a single payment for the use of subsoil in the territories North of the 60th parallel included in the Arctic zone of Russia, may attract investors for development of remote fields in the Arctic regions of Russia, said the Governor of the Murmansk region Marina Kovtun at the plenary session VI Murmansk international business week.

According to the head of region, today, in the calculation of the initial payment, use the value of the correction factor for infrastructure development. For solid minerals, located on the territory of several regions North of the 60th parallel, it is equal to one. Among them are the subjects of the Arctic zone as the Nenets, Yamalo-Nenets and the Chukotka Autonomous area, Yakutia and the Krasnoyarsk territory. At the same time, the Murmansk and Arkhangelsk regions, Karelia, Komi, also included in the Arctic macro-region, equipped by double the coefficient, said Kovtun.

«However, given the enormous resource potential of the Arctic macro-region, a priority for most of the reference areas will also be projects related to the development of the mineral resource base of solid minerals… Effective incentive for investors in the initial phase of capital investments in field development could be the decrease in the amount of a single payment for subsoil use», – said the Governor.

She added that today in Murmansk area remain undeveloped 60 of the explored deposits. The location of these fields in remote areas where no infrastructure reduces their attractiveness to investors.

Another incentive for investors, according to the head of the region, could be a phased increase in the tax rate on mining to the «established» level by the introduction of gradually rising during the first 10 years of corrective coefficients to the tax rates. Today, this measure is valid for organizations implementing regional investment projects in the far Eastern Federal district, Krasnoyarsk and Baikal territories, in some other regions.