Plots with critical mineral deposits first to be put up for e-auction in Ukraine

Head of Ukraine's State Service of Geology and Subsoil Roman Opimakh says the agency has presented the Investment Atlas for Subsoil Users, where plots with critical mineral deposits will be put up for an electronic auction for the first time ever. He made the comment at a press conference on January 26, as reported by an UNIAN correspondent. "The State Service of Geology and Subsoil presents all investment proposals to businesses in a modern accessible format. We've selected 15 minerals that fall into the category of strategic and critical ones for the national economy, and will be an essential base for the successful development of Ukraine's export potential," he said. At the same time, plots with deposits of lithium, titanium, nickel, cobalt, chromium, tantalum, niobium, beryllium, zirconium, scandium, molybdenum, gold, and uranium could be purchased via transparent e-bidding for the first time ever. The agency, Opimakh says, intends to attract investments in the development of said categories of minerals. To this end, the Subsoil User's Investment Atlas was presented, containing over 30 vacant promising plots with descriptive information posted online. According to Opimakh, the comprehensive development of the proposed plots will allow the country to raise up to US$10 billion to Ukraine. The minimum period for project implementation per plot is five years. The country's mineral resource base is able to almost completely meet the needs of the domestic industry, as well as contribute to the development of its export potential. "The available resources and prospects for the development of 'minerals of the future' will allow the development of new modern industries in Ukraine. This indicates their strategic importance for the formation of Ukraine's new role in the international arena," he said. "Unfortunately, so far, the 'metals of the future' used for innovative technologies have almost never been developed in Ukraine, while demand for them is growing rapidly worldwide," he added. Background In February 2020, the State Service of Geology and Subsoil put up for auction special permits for 12 plots from the Subsoil User's Investment Atlas with a total initial cost of UAH 7.944 million, or US$282,002.

Plots with critical mineral deposits first to be put up for e-auction in Ukraine

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