YEREVAN. - Parliament of Armenia in the second reading adopted the Code “On Mineral Resources” and a package of related bills. The bill was passed by 79 votes “for”, 4 “against” and one abstention. Only representatives of the opposition Heritage faction voted against.

The Code “On Mineral Resources” offers a regulatory framework for natural resources, the procedures for exploration and production, obtaining a license, as well as environmental responsibility and associated costs. The package includes the design and changes in the law "On environmental payments and payments on the nature management", providing a mechanism royalty. The latter will replace the payment of the nature management for the extraction of metallic ores.

ARF Faction that had previously expressed concern about the government policy of levying income in the mining industry, voted for the bill. The final version of the formula involves a relatively higher rate, which makes the bill relatively acceptable. At the same time, this does not obviate the need for higher payments in the mining industry, one of ARF MPs told Armenian News - NEWS.am.