Component of Licenses for Mineral Resources Extraction Added to 100 Investment Offers to Business Program
11-02-2020

Under the instruction of the Prime Minister of Georgia, the Ministry of Economy and Sustainable Development of Georgia has expanded the successfully ongoing program 100 Investment Offers to Business – adding a component of Licenses for Mineral Resources Extraction to the project. The presentation was held in the vicinity of the Basalt Ore in Marneuli. Within the framework of the program, 100 ores for extraction of commercially attractive minerals selected in different regions of Georgia were auctioned.

“We are offering the business a hundred parallel electronic auctions on licenses for mineral resources extraction, which is a very large-scale and interesting initiative. These are the minerals, including various metals, mining-chemical raw materials, construction materials, polymetals and groundwater, that have an export or import-substitution potential. This is exactly the resource our economy needs for faster development and growth, creation of new jobs and attraction of new investments,” - the Minister of Economy and Sustainable Development said. 

Natia Turnava explained that, in total, the initial price of a hundred licenses for mineral resources extraction is, at least, 82 million GEL – the amount that will be included in the state budget. According to her, this is an investment of, at least, 120 million GEL and the business will be obliged not only to extract, but also process minerals on the ground. “This provides additionally, at least, 1800 new jobs in Georgia,” - the Minister stated. 

The members of the government discussed the issues concerning the need to expand the "100 Investment Offers to Business" program at the sitting on February 6, 2020. The program involves not only the privatization of the state property, but also the announcement of auctioning on licenses for mineral resources extraction under the project.

This is a significant direction of the plan within which the Georgian government wants not only to extract, but also recycle minerals on the ground and maintain their core value within the territories of Georgia. 

It is important that the state will pay particular attention to the use of high environmental standards while the minerals are being extracted/processed during the implementation of the project. The above-mentioned requirements will be considered as license conditions.

The members of the Cabinet of Ministers and Parliament of Georgia, as well as representatives of business associations and business sector attended the presentation of the new component of the program, which took place near the Basalt Ore in Marneuli. The Head of the LEPL National Agency of Mines of the Ministry of Economy and Sustainable Development, Maia Zavrashvili, introduced a comprehensive presentation of the new component to the audience.


Ministry of Economy and Sustainable Development of Georgia. 2017 ©