RF`s earnings from sale of subsoil blocks up 12 times over 5 years.

MOSCOW, November 20 (Itar-Tass) -- Russia's incomes from the sale of
subsoil over the past five years have increased twelve times, and proceeds
from the severance tax, six times, Natural Resources Minister Yuri Trutnev
told the State Duma during a question-and-answer session this week.
The minister said that in 2004 the government's investments in
exploration amounted to 5 billion rubles and private companies'
investments, to 43 billion rubles. In 2010, government investments stood
at 20 billion rubles and those made by private companies, at 176 billion
rubles.
Russia achieved the expanded reproduction of oil, gas, coal, gold,
copper, platinum, silver, nickel and cement raw materials. Over five years
nearly 500 mineral deposits have been discovered.
The Ministry of Natural Resources has submitted to the government
bills aimed at expanding the powers of individual territories of the
Russian Federation in the sphere of subsoil use. It is proposed to give
the regions the right to organize geological exploration to search for
deposits of common minerals in their territory and to classify as subsoil
resources of local importance areas containing widespread mineral deposits
and areas intended for the construction and operation of underground
facilities.
The Natural Resources Ministry has also drafted and submitted to the
government proposals for the liberalization of the existing legislation to
improve economic incentives for geological exploration of the sea shelf,
Prime-Tass reports.