The State Service of Geology and Mineral Resources of Ukraine held a re-auction for the sale of special permits for a section of the "Zalesy-Shmenky ore field" with deposits of copper ores in the Volyn region. The area of the site is 2337 hectares. The approximate reserves of copper are estimated at 95 thousand tons.
A buyer who is ready to pay more than UAH 81 million (about $ 3 million) for the “Zalesy-Shmenky ore field” is provided for geological exploration and pilot development for a period of 5 years.
“Nine participants competed for the right to obtain permission to explore the site. The Symbol Foundry won the victory, offering the highest price - UAH 81,005,000. Bidding showed a record increase in the sale price of the lot - by 1902 times, ”said the Chairman of the State Geological Survey.
The Symbol foundry is located in Chernigov, specializing in the production of castings from cast irons and steels of various grades. Has a representative office in the USA.
A repeated auction for the site "Zalesy-Shmenki ore field" was announced due to the fact that the winner previous trades did not pay the funds for the special permit within the specified period. The selling price at the previous auction increased 483 times, reaching UAH 20,500,000.