The Cabinet of Ministers by its instruction that came into force October 1, 2011, transferred to the National Bank the whole property complex of the Pivnichny state regional geological enterprise Pivnichgeologia. It is engaged in prospection, advanced exploration for cuprum, gold and diamonds.

"It is planned that this enterprise will produce gold on the territory of Ukraine," NBU First Deputy Governor Yuriy Kolobov told journalists, UKRINFORM reported.

According to him, the NBU is planning the issue of certificates for population, nominated in gold and gold investment coins. In this way, the regulator intends to introduce alternative instruments in order that population invested their available funds.

According to the National Bank, as of September 1, 2011, its reserves consisted of 0.894 million troy ounces of gold to the amount of USD 1.602 billion, which made up 4.25% from total volume of reserve funds.

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