Belarus is ready to hold a tender without delays to invite an investor to develop new promising potash salt deposits, said President of Belarus Alexander Lukashenko as he met with Jean-Raymond Boulle, head of Boulle Mining Group (BMG), on 23 September.

“We have never tried to hide that we are working seriously on one of the main investment projects in our country. I mean the development of new potash salt deposits in Belarus and the appraisal of our main extracting enterprise Belaruskali. The appraisal is over and Sberbank has confirmed our price of $30 billion,” said the head of state.

Speaking about the development of new deposits of potash salts, the President said several investors had made proposals, including Boulle Mining Group.

Alexander Lukashenko reminded he had requested the government to look through all the proposals.

“Today we should clearly say where we will go, including the development of new potash salt deposits,” remarked the head of state. “The market of potash fertilizers is on the rise. All major players believe it is. The growing consumption and the growing demand for food contribute to higher prices for fertilizers. It is a very profitable business for our country, too. This is why close attention should be paid to it”.

Alexander Lukashenko stressed: “Not to brake these processes is the key condition. There are investors around. Whoever offers the best conditions will develop new deposits. If someone offers a high price for some shares of our main enterprise, we will think about it”.

“But everything should be done in an honest and open manner, via a tender: the best conditions, the best offers will be accepted right away,” said the President.

After the meeting Jean-Raymond Boulle said they had had a productive conversation. “We believe the climate for investing in Belarus is favorable. Boulle Mining Group is in advanced talks with the government on the project for investing billions of dollars in the mining industry in the area of potash fertilizers production,” he said.

Boulle Mining Group is a group of private companies headquartered in Luxembourg. It specializes in strategic investments in private and state-run companies involved in marketing, civil engineering, geological surveying and mining industry all over the world.