“ Ukraine has to build the reputation of the country as a reliable place to do business. ”
Igor Mazepa, investment banker, CEO and Owner of Concorde Capital investment company, launched the start of amber mining in Rivne Oblast and laid stress on the importance of amber mining legalisation in Ukraine.
In May 2021, Soniachne Remeslo Centre LLС (investment project of Concorde Capital group*) began extraction of raw amber at its deposit near Volodymyrets village, Rivne Oblast.
According to geological exploration data, the reserves make about 40 tonnes of raw amber, with the field to be exhausted in five to six years. Key markets are Ukraine, China, and Arab countries.
“I am happy to announce another outstanding project of Concorde Capital, Soniachne Remeslo. Investment in the project was about US$5 million. We expect it to pay back in one or two years. We see good prospects in legalisation of the amber mining market that will benefit all stakeholders: the government that will generate tax revenues, companies that will be able to make profit, and people who will get jobs,” commented Concorde Capital CEO Igor Mazepa.
Igor Mazepa also added that the region was experiencing a real environmental disaster triggered by illegal amber mining, but legalisation of this market would enable reforestation.
Company will develop two lines of business: extraction and sale of amber, as well as processing and sale of finished products to end customers. The company has launched an online marketplace, https://ambertrade.com.ua, for anyone to buy amber at auctions.
*Soniachne Remeslo Centre is a private Ukrainian company that extracts and processes raw amber at the Volodymyrets Skhidny deposit. The company has obtained a special subsoil use permit for amber extraction in a field of over 83 hectares until 2029. Soniachne Remeslo Centre is 58% owned by Concorde Consulting; 32%, by Yuri Blahodyr; and 10%, by Halyna Symkha, according to the State Register.
Copyright © 2018 Igor Mazepa