Belarus to ease terms of leasing mineral deposits to investors

Belarus is going to improve laws regulating the development of mineral deposits by investors in the near term, announced the Minister of Natural Resources and Environmental Protection Vladimir Tsalko.

“The liberalization is stipulated by Decree No. 4. Now we are drafting new approaches to the work with investors who would like to develop our mineral deposits,” the minister said.

According to Vladimir Tsalko, despite easier lease terms, each decision to conclude a lease contract will be well-considered. It is not a secret that many companies, including foreign ones, that seek to develop mineral deposits in Belarus, are primarily concerned with getting big revenues from doing business in Belarus. “We should consider the national interests and environmental issues, not only revenues. This is why such projects will be approached in a complex way,” Vladimir Tsalko said.

A special website is being developed to provide in-depth information about mineral deposits and the possibility of their exploration in Belarus, the minister said. The website is expected to help raise more external investments. The information on competitions related to development of brown coal, iron ore and slate coal deposits will also be posted on the website. “This task was set by the Prime Minister of Belarus,” Vladimir Tsalko said.

On 1 February, Prime Minister of Belarus Mikhail Myasnikovich informed that international tenders will be announced soon to choose investors for the development the Lelchitsy coal deposit and construction of a powerful electric power plant there. The information about tenders to develop iron ore and slate coal deposits will be disseminated, too. These projects are aimed to obtain raw materials and finished products with a high added value.

According to