...

License for mining sold in Georgia

Business Materials 29 February 2012 16:07 (UTC +04:00)

Georgia, Tbilisi, Feb. 29 / Trend N. Kirtzkhalia /

The Agency of Natural Resources has sold a license for the study and extraction of minerals in Bolnisi and Dmanisi at an auction on Wednesday.

The initial license fee amounted to 110 million lari ($ 1 = 1.66 lari). Mining Investments acquired the 27-year license for 110.5 million lari .

The license will come into force from April 15, 2014. For now, Madneuli has the right to use minerals in these deposits. In accordance with the terms of trades, the investor is obliged to
calculate the reserves in Bolnisi and Madneuli within 24 months after the license enters into force and within 48 months for Sakdari.

Latest

Latest