BAKU, Azerbaijan, Feb. 4
By Tamilla Mammadova – Trend:
In 2020, the second phase of the reform of the Georgian mining sector, which includes updating the legislative base of the mining sector, will take place, Georgian National Agency of Mines (NAM) told Trend.
“In 2019, Georgia became a member of the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF),” the agency said.
Opening of geological funds and the introduction of an electronic catalog of digitized accounts can be considered as important projects implemented in 2019, NAM noted.
In addition, last year, the Government of Georgia approved a new strategy for the Georgian mining sector. The comprehensive reform process was supported by European Bank for Reconstruction and Development (EBRD), the agency added.
“The main advantages of investing in the mining sector of Georgia are the diverse mountain area, access to primary geological information, simplified business processes, a minimum prepayment burden, a transparent auction system, and the compliance of environmental requirements with international standards,” the agency said.
In 2019, Georgia exported $651,606 of copper ores and concentrates. Export of mineral and fresh water from Georgia amounted to $133,570. Last year, Georgia exported gold worth $72.83 million, while in 2018 gold exports from Georgia amounted to $69.80 million in monetary terms.
The National Agency of Mines is a legal entity of public law that operates under the Ministry of Economy and Sustainable Development of Georgia. NAM was established on December 27, 2017. State control of Agency activities is carried out by the Ministry of Economy and Sustainable Development of Georgia.
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