11.Feb .2020 18:48

The Government Announces License Auction on Extraction of the Minerals

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We want Georgia's minerals not only to be extracted in Georgia, but also to be recycled wherever possible in Georgia, Natia Turnava, Minister of Economy and Sustainable Development, said at a presentation of a new component of the 100 Investment Proposal for Business program. The new component implies announcement of parallel license auctions.

According to the Minister, mineral facilities, which are attractive for investors, have been selected in various regions of Georgia, with total initial auction price of 82 million GEL and is expected to trigger more than GEL 120 million in investment.

“We want the Georgian marble to be processed here and used to produce new building materials here, we want our basalt to be processed here and to make artificial fibers in Georgia, to produce Georgian ceramics from our clay and to export it, our drinking water to be bottled in Georgia and to become famous in many export markets," - Natia Turnava said.

The Minister of Economy and Sustainable Development underlined the importance of protection of high environmental standards in the extraction / processing of minerals and which will be provided in the license conditions.