Georgia is selling mining licenses at auction

mining licenses, basalt quarry, business offers in Georgia
Credit: წიაღის ეროვნული სააგენტო არის საქართველოს

Over 100 mineral resource deposits are put up at e-auction including a basalt quarry.

Georgia is putting in place important steps to attract the flows of investments in the country. The Ministry of Economy developed and since the fall of 2019 has been implementing the initiative “100 investment proposals for business”. Within this program the first “trial balloon” is the bidding of state-owned land property.

In February 2020, the Georgian government launched the enhanced initiative “100 Additional Commercial Offers for the Private Sector”. Over 120 licenses for mining in various parts of Georgia were put up for the e-auction.

The Minister of Economy and Sustainable Development of Georgia Natia Turnava has presented the enhanced program directly at one of the facilities – the basalt quarry in Marneuli. The head of the relevant ministry focuses on what she expects from business development in Georgia: setting up new enterprises, jobs for the locals and high demand products.

Natia Turnava considers that the basalt deposit is one of the most interesting bids with expected amount of investments 2 million lari ($ 635K) at least. The head of the ministry hopes a production facility for processing basalt rock into fiber will be built there.

At the moment, only 38 bids are put up at the e-auction website and we have not found a basalt quarry listed there.

The growing demand for basalt fiber from the construction industry has become a driving factor for resuming the production of basalt fibers and composites in Belarus.

Translated by Olga Yurchenko

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