The government of one of the least-mined of the former Soviet republics has called a tender for a complex mineral licence in hopes of attracting mining companies.
With the tender, the Georgian Ministry for Environmental Protection and Natural Resources is offering 10 sites containing various mineral resources and covering an aggregate area of 2,650 sq. km.
According to Minister Nino Chkhobadze, a maximum of five years will be spent on a mandatory program of geological and ecological research of a site.
During this period, a licence-holder must invest certain funds based on the size of the site: no less than $3 million for 30 to 600 sq. km and at least $5 million for parcels of between 601 and 1,400 sq. km.
Bidders are required to submit an operating program for the whole period of operation and a business plan with volumes of investment and a schedule. The winner must submit a detailed program for the first five years within three months of the receipt of the licence.
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