A Chinese businessman is investing in amber extraction in the Rivne region.

Chinese businessman Wang Zhikai will join investors in the Sonyachne Remeslo company, which will mine amber at the Tomashgorod deposit in the Rivne region.

“Wang Zhikai becomes one of the few direct foreign investors in Ukraine during the war,” commented the owner of Concorde Capital, Ihor Mazepa, who purchased the mysterious deposit in October 2023.

According to Mazepa, production at the deposit will begin in the spring of this year. The projected production volume is about 20 tons per year. The field’s projected reserves are 191 tons.

“The volume of resources for the development of the new deposit, according to preliminary estimates, will amount to tens of millions of dollars. Ukraine will receive investments, the amber market will continue its history of legal amber extraction and gain even greater access to foreign markets, and the Rivne region and local communities will receive new jobs, budget revenues and forest in the place of used plots,” added Mazepa.