The State Geology and Subsurface Survey of Ukraine issued an order to extend the operation of special permits for subsoil use for the companies «KRK» and «ZGRK» owned by Avellana Gold Ltd. The special permits provide for geological exploration and experimental development of gold-polymetallic ores of the Kvasovo ore field and Beregovo deposit in Transcarpathia. The operation of the special permi…

The Verkhovna Rada, Ukraine's parliament, will vote for the law on the High Anti-Corruption Court this week. The decision of the parliamentarians on the implementation of the High Anti-Corruption Court will have two scenarios for the economy: either the country will be in a state of default if the decision is not supported, or will receive the next tranche of the IMF and the favor of the internati…

In early February, the State Service of Geology and Subsoil of Ukraine celebrated 100 years since the day the geological service was created. Representatives of Avellana Gold Ltd. visited the events dedicated to the anniversary. Veteran scientists, employees of state enterprises and institutions were honored at the celebration. The management of the State Service of Geology and Subsoil of Ukra…

Companies that open business in Ukraine gained an opportunity to counteract bureaucracy in State agencies thanks to investor protection organizations. Recently, the Business Ombudsman Council responded to violations of the terms for prolongation of special permits of Avellana Gold Ltd. for the exploration of the Transcarpathian polymetal deposit by the State Service of Geology and Subsoil of Ukrai…

The Cabinet of Ministers of Ukraine discussed Draft Resolution on cancellation of the requirement for re-estimation of natural resources reserves every 5 years. The American Chamber of Commerce in Ukraine emphasized on the necessity to cancel this requirement, since it leads to additional financial and bureaucratic burden on production companies. Moreover, re-estimation of reserves of natural r…