Mineral production license in Georgia sold for $93.5 million
Georgia, Tbilisi, Dec. 30 / Trend N. Kirtskhalia /
Mineral production license in Georgia in 2011 was sold for unprecedented high price - $93.5 million, the Georgian Ministry of Energy and Natural Resources reports.
For this price Caucasus mining Group Company bought a license to produce nonferrous, precious and rare metals and barite in Bolnisi, Marneuli, Dmanisi, Tsalk and Tetriskaro municipalities.
Madneuli company bought another license to produce minerals in Bolnisi municipality for $9.5 million.
According to the ministry, Georgia received bonus worth 7$ million for permission to search and produce in oil licensed blocks.
In 2011 the Georgian Agency of natural resources signed the agreements on conduct of search and production work in oil licensed blocks with several investment companies.
The agreements were signed with 5 Georgian and international companies. About $85 million will be spent on the work in licensed blocks.