Ukraine at PDAC 2017 International Convention, Trade Show & Investors Exchange in Canada

Doing business in Ukraine: Ukraine at PDAC 2017 International Convention, Trade Show & Investors Exchange in Canada

This week the #State Service of Geology and Mineral Resources of Ukraine represented #Ukrainian #geological #exploration market and its #potential at one of the #biggest #conventions on the #mineral exploration in the world. #PDAC 2017 International Convention, Trade Show & Investors Exchange was held in #Toronto in #Canada and gathered 22,000 visitors from 125 countries. This year PDAC has brought together more than 900 companies, whose representatives were able to discuss the current industry trends at various seminars, sessions, and exhibitions.

Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.

According to the message stated by the Press Service of the Department, PDAC 2017 has provided Ukraine with the opportunity to advance cooperation and exchange information with the world leaders of the mining industry. It is expected that private mineral exploration companies will be interested in investing in this market.

Dmitry Abramovich, the chief of the Subsurface Resources Management and International Cooperation Department specified that it was particularly essential for Ukraine to demonstrate its potential to the leading corporations of the global mining industry. He said that the State Service of Geology was bound for opening the market for geological exploration, and Ukraine had to work hard to attract the investments and innovative technology.

Dmitry Abramovich also noted that mineral exploration area wasn’t properly financed until 2014. Only recently the state has finally defined the priorities for this market. He also indicated that to improve the situation, the State Service of Geology aimed to create conditions for the discovery functioning of private mineral exploration companies.

Currently, there are several main purposes for opening of the mineral exploration market. The first purpose is the need to develop the environment suitable for the needs of business, the second is supporting the competitive methods for obtaining the right to use subsoil under EU Directives. And the last, but not least reason is the demand for increasing raw materials base in Ukraine.

In consonance with these purposes the Department of Geology has outlined three main tasks for the near future:

  • geological data acquisition
  • opening the mineral exploration market
  • encouraging investment in geological exploration.

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