Commission to select investor for mineral deposit development set up in Belarus

The Belarusian Government has approved provisions of a commission to select investors for mineral deposit development as well as the composition of the commission. The relevant decision is contained in Resolution No 364 of the Council of Ministers of 24 March 2011.

The commission is headed by Natural Resources and Environment Minister Vladimir Tsalko. The commission comprises Deputy Natural Resources and Environment Minister Anatoly Lis (as deputy head of the commission), representatives of the ministries of economy, industry, architecture and construction, the National Academy of Sciences, Belneftekhim Concern, deputy chairpersons of the oblast executive committees.

The commission has been set up to consider and evaluate investment proposals that Belarus receives for the development of mineral deposits as well as provide transparency, competitive ability and equal terms for investors.

The commission will keep records of the investment proposals coming to the national government bodies and other state-owned organizations, executive and administrative powers, and cooperate with the state bodies and organizations in selecting investors for mineral deposit development.

The commission has a right to request information from an investor on the presented investment proposal including its feasibility study as well as other necessary information from the corresponding government bodies and organizations.

The activity of the commission will comply with the Civil, Investment and Natural Resources Codes as well as other Belarusian laws.
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