Belarus attractive for mining concessionaires

Belarus has created quite attractive conditions for mining concessionaires, Anatoly Lis, Deputy Minister of Natural Resources and Environmental Protection, told reporters on 25 August.

“Today the conditions for investors who seek a mining concession in Belarus are no worse than in other countries,” said Anatoly Lis. Today four deposits are subject to a mining concession in Belarus, including iron ore and chalk deposits. The issue of the transfer of oil shale and lignite deposits into a concession is in the pipeline. According to the deputy minister, Belarus’ legislation does not pose any obstacles to the arrival of foreign companies into the country for the development of deposits. “If serious companies want to get a concession in Belarus or invest in its investment, they will have no problems here,” he said.

Luxembourg firm Polar Stars, which set up a joint venture in Belarus to produce brown coal, “did nothing during two years”. Considering the fact that the company did not take any measures to develop the deposit, we stopped cooperating with it,” Anatoly Lis said.

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