OREANDA-NEWS. October 07, 2011. President Alexander Lukashenko signed Decree No. 442 "On Some Matters of Carrying Out Investment Activity In Relation to Mineral Resources."

The Decree sets forth a uniform approach to regulating investment activities in relation to mineral resources, the activities carried out as part of investment and concession contracts; it obliges the investor to make the one-off payment for the right to use mineral resources and offset the costs of the geological and survey work carried out by the state.

The document also secures additional preferences and benefits for investors carrying out investment projects as part of concession contracts. The preferences and benefits are contained in Ordinance No. 10 of 6 August 2009 "On the Creation of Additional Conditions for Investment Activity in the Republic of Belarus."

The investment contracts for the implementation in Belarus of investment projects that relate to mineral resources, the contracts that are entered into before the Decree comes into force, shall not be subject to realignment with the Decree.

The Decree comes into force on 1 January 2012, with the exception of the provisions that prescribe the Council of Ministers to submit to the President by 1 December 2011 for consideration the procedure of computing the starting amount of the one-off payment, and take other measures to implement the Decree.