The first auctions for mining amber deposits were held Friday on ProZorro.

The first auctions for mining amber deposits were held Friday on ProZorro. In a market test of the new amber mining law, four mining companies bid the price of the first license up almost 40 times, to $468,000. In the second auction, six companies bid up the asking price 90 times, to almost $1.1 million. The 5-year licenses are for two 10-hectare deposits in Sarny district, midway between Rivne city and the Belarus border. Vitaly Koval, head of Rivne Regional Administration wrote on Facebook page: “The results exceeded all our expectations…We work openly and transparently for business!”