Velta saved a year on securing the land rights under the new legislation

Mar 16, 2020

Velta LLC is the first company in Kirovohrad region and one of the first in Ukraine to receive land for mining through the procedure of land servitude.

The Law of Ukraine “…on Extraction of Amber and Other Minerals” № 402-IX that came into effect on December 19, 2019, allows mining companies to obtain land plots located within the borders of areas designated for mining, through the procedure of land servitude. This replaces the traditional land withdrawal or lease.

Under the new procedure, Velta received the plot for use in 10 days instead of six to twelve months, as it would have been required for the land acquisition under the old legislation.

“We have used the new legislative service to overcome the bureaucracy in obtaining land for mining. This is a good signal for new projects,” commented Andriy Brodskyy, Velta’s CEO.

The first land servitude received by Velta for 28 hectares will ensure company’s operation on this plot for up to two years.