The State Duma Committee on Natural Resources approved a bill banning the refining of precious metals without documentary evidence of their legal origin. New requirements are aimed at creating a transparent system of control over turnover gold and other valuable metals.
The main provision of the bill establishes a direct ban on the refining of precious metals if their origin cannot be traced through the state information system GIIS DMDK. Refineries will now be able to accept raw materials only if they have confirmed data on their legal origin.
The key control mechanism will be mandatory verification of subsoil use licenses. When metals are received for refining, organizations will have to check the availability of appropriate documentation and place this information in the state accounting system. This will ensure the legality of mining.
Legislators have provided exceptions for certain categories of owners. Metals can be accepted for refining from owners or legal owners, if such products are not subject to special accounting. Particular attention is paid to the regulation of gold mining within the framework of geological exploration of the subsoil, where the development of separate rules is required.
Parliamentarians recommended that the government develop detailed regulations that take into account the specifics of various situations with the extraction of precious metals. This will help avoid errors when checking metal lots and create an effective traceability system.
The adoption of the bill is scheduled for November 2025, and entry into force on September 1, 2026. This transition period will allow market participants to adapt to new requirements and build the necessary business processes.
The bill banning the refining of precious metals without confirmation of origin creates the basis for the civilized circulation of valuable resources. The implementation of these measures will increase market transparency and strengthen control over booty precious metals in Russia.
The material was prepared with the support of the Russian Ministry of Education and Science as part of the Decade of Science and Technology.
Source: @zolteh
