Company “Right Solution” received a special permit to use subsurface amber resources in the Zhytomyr Region. It is currently conducting an exploratory expert examination, and only a few years later, the company will be able to submit documents for a licence to extract the mineral.
“We shall conduct geological study, research-and-commercial development and an expert examination. Only upon completion of that, our company will submit the documents for obtaining the licence for extraction. In the long run, we want to extract the “sun stone”, but now we are talking only about geological prospecting, that is, on investing in the development of Ukraine. I hope that in a few years we shall still get the permit for extraction”, - says Volodymyr Balanda, one of the investors of the company.
The investor emphasizes that he is not an advocate of selling raw materials as such, because it is profitable neither for the company nor for Ukraine. The plans include a full cycle of production starting from geological prospecting to ready-made ornaments. “I have repeatedly stated that I am not an advocate of selling raw materials as such. This is not coal, but a precious stone that is in demand in the Chinese and other markets. By selling amber as raw material, we enable others to enrich themselves. Look at Poland. There is a whole street of amber shops in Gdansk. Americans, Germans, Austrians and others go there and buy these stones, spending their money there. This is an image of the country. And the image of the City of Gdansk in general was created due to amber. The same should be done in Ukraine”, the investor said.