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A plot with copper deposits in the Volyn region of Ukraine has risen in price at auction 483 times

Mining industry / Ukraine

E-auctions for the sale of special permits for the use of subsoil were held. Among the proposals were areas with deposits of groundwater, liparite, copper ores, coal, and amber.

A plot with copper deposits in the Volyn region of Ukraine has risen in price at auction 483 times

Participants in the auction, organized by the State Service of Geology and Subsoil of Ukraine, competed for the right to obtain a special permit for geological exploration and pilot industrial development of copper ores in the "Zalesy-Shmenki ore field".

A site rich in copper is located in the Volyn region, the term of use of the subsoil is 5 years. 5 enterprises took part in the competition, the winner was the one that offered the highest price - 20 566 000 hryvnia, raising the bar of the initial cost by 483 times.

“Ukraine imports copper in significant volumes, despite the available deposits - the estimated reserves of this metal are about 95,000 tons. The increase in copper production will contribute to providing the domestic industry with its own raw materials. These are new jobs, taxes and reduced imports, ”explained Roman Opimakh, chairman of the State Geological Survey.

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