Licenses are award- ed through Open Auction Procedures
02
Exploration
The initial auction price for explora- tion activities is GEL 50 (20 USD) per hectare; Licensing area is multiplied by GEL 50. In case calculated price is less than GEL 10,000, auction price is still set as GEL 10.000.
Up to 5 years
03
Reserves Approval
Estimation of mineral resources should be done according to JORC Code, which must be approved by the relevant commission. After approval, license holder will pay one term fee to Commission for approving reserves
Within 3 months
04
Exploitation
Terms might vary according to miner- al types The exploitation term includes exploration term as well After approval of reserves, exploita- tion plan must be submitted to the Agency Based on exploita- tion plan, fixed royalty and regula- tion fee will be paid
Up to 40 years
05
Mine Closure
Reclamations must be done according to Mine Closure Plan; Defined licensing conditions should be fulfilled
End of the license
Exploration/exploitation license can be issued up to 45 years; Regulation fee per gram for Gold is 0.56 USD; per ton for Copper 47.63 USD Fixed royalty per gram for Gold is 1.12 USD; per ton for Copper 95.37 USD
Performance of Georgia in Mineral’s sector
Mineral Resources share in Georgia's total export 2019) (Excluding reexport)
FDI Flow in Mining Industry, 2016-2019 (USD, Thousands)
Georgia's Top Export Destination Countries, 2018 (USD, mln)
Top exporting mineral resource products in Georgia (2019)
