Business news

MINSK, 13 November (BelTA) – Belarus’ proven potash salt deposits will last for more than 160 years, Belarus’ Deputy Minister of Natural Resources and Environmental Protection Andrei Khmel said in an interview to the Respublika newspaper, BelTA has learned.

Belaruskali, one of the world's top three potash exporters, is one of the largest taxpayers in the country. Last year, it produced over 46 million tonnes of potassium salts. Salt reserves are estimated at 7.5 billion tonnes, the amount sufficient for more than 160 years, not counting other deposits that can be put into commercial use,” said Andrei Khmel.

With regard to oil production, the goal is to ensure the discovery of oil deposits overpace oil extraction volumes. “We are planning to meet this goal this year. It is projected that the extraction of oil will approximate 1.7 million tonnes. An increase in the reserves will be virtually as much. But I would like to remind that exploration, especially of hydrocarbons, is very costly. Without support from the national budget we will not cope with this task. Deposits go into production and pay off. We calculated that Br1 invested in exploration yields Br5-6 in profits,” the deputy minister said.