Ukraine to Auction Off a Gold Deposits Site

The State Service of Geology and Subsoil of Ukraine offered investors 13 sites with banks of gold ores, manganese, amber, groundwater, kaolin and chalkstone. Besides, for the first time in history, Ukraine put up a gold-bearing lot for an electronic auction. The State Service of Geology and Subsoil of Ukraine reported this.

It is Zhovtovodska Square, located in the Dnipropetrovsk region.

Ore resources and industrial content of gold and niobium have been discovered on a 1,000-hectare site.

Investors are offered an opportunity to carry out the geological study, research and development in this area for five years. The starting value of such a lot was 4.48 million hryvnias.

According to the agency, the auctions will take place online via the Prozorro system.

“Ukraine’s subsoil has a chance to become a driver of national economic growth. After all, it attracts investment in the country’s economy and creates new jobs in the regions. We have a constant dialogue with industry to meet their demand for raw materials because our goal is to form attracting proposals for investors,” Roman Opimakh, the head of State Service of Geology and Subsoil of Ukraine, said.

Natalia Tolub