The Federal Agency for Mineral Resources is a federal body of executive authority responsible for providing state services, managing state property, and for вlegal regulation in the sphere of subsoil use. 

The Federal Agency on Mineral Resources has the following functions:

• to organise regeneration and rational use of the mineral and raw material base;

• to study the geological subsoil on the territory of the Russian Federation and on the continental shelf of the Russian Federation;

• to maintain a federal and a territorial data bank on geological information on subsoil, as well as a data bank on subsoil use;

• to manage, within its sphere of competence, federal property in the sphere of subsoil use, including managing the State Subsoil Fund;

• to implement, within the limits and procedures established by federal laws and acts of the President of the Russian Federation and the Government of the Russian Federation, ownership rights in relation to federal property required for ensuring the function of federal bodies of authority, including property transferred to federal state unitary enterprises, federal Treasury enterprises, and state institutions subordinate to the Agency;

• to maintain a state cadastre of deposits and occurrences of minerals, to keep a state inventory of works involved in the geological exploration of subsoil and its sections made available for the extraction of minerals and for purposes unrelated to their production, and their inclusion in a state register, as well as to compile a state balance sheet of mineral resources and to monitor the condition of subsoil;

• to provide the right to use subsoil in an established manner;

• to render state services connected with: a geological, economic, and cost-based assessment of mineral deposits and subsoil sections in accordance with the established procedure; a state examination of mineral reserves and geological and economic information on subsoil sections made available for exploitation, and the provision of design and estimates documentation on the geological exploration of subsoil.