PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of January 17, 2012 No. 37

About development of the Petrikovsky field of potash salts

For the purpose of expansion of production of potash fertilizers and based on results of the held competition at the choice of the investor for industrial development of the Petrikovsky field of potash salts with construction of mining and processing complex I decide:

1. 1,5 of one million tons of chloride of potassium in year is at least enable in 2012-2022 the realization of the investment project on industrial development of the Petrikovsky field of potash salts with construction and commissioning in the Gomel region of mining and processing complex capacity (further – the investment project).

2. Determine that:

2.1. the realization of the investment project is enabled according to the investment agreement between the Republic of Belarus and Belaruskali open joint stock company (further - the investor) in case of acceptance by the investor and fixing in the investment agreement of obligations on:

to transfer gratuitously to the Republic of Belarus 50 percent of shares of the open joint stock company created by the investor for implementation of the investment project (further - the organization created by the investor), within one month from the date of their state registration;

to payment in the republican budget of one-time payment for mineral right till December 31, 2014 in the amount of 146, 5 million US dollars;

to compensation in the republican budget of the costs for the carried-out exploration works which are earlier incured by the state within twelve months from the date of the conclusion of the investment agreement in the amount of 20, 7 million US dollars;

2.2. export of the finished goods made by the organization created by the investor is performed through Belarusian Potash Company private company or other exporter determined by the Republic of Belarus on the conditions equal with other Belarusian producers of potash products;

2.3. the profit of the investor remaining at its order after tax payment (charges, duties) and other obligatory payments in the budget, including state target budget and also state non-budgetary funds can be own financing source of the investment project;

2.4. use of natural resources of the Petrikovsky field of potash salts in especially protected natural territories, the natural territories which are subject to special protection, the territories of settlements and in locations and operation of linear constructions on condition of observance of requirements of the legislation on environmental protection and rational use of natural resources is allowed.

2.5. the republican unitary enterprises of power industry Gomelyenergo (further - RUP "Gomelyenergo") and Minskenergo (further - RUP "Minskenergo") regarding financing at the expense of own means based on the tripartite agreement * reconstruction of the objects of engineering infrastructure which are under economic authority of the specified companies take part in implementation of the investment project.

The additional costs on reconstruction of the objects of engineering infrastructure which are under economic authority of RUP "Gomelyenergo" and RUP "Minskenergo" suffered by the investor are subject to transfer to the specified companies based on the deed of conveyance of costs which is drawn up in the form approved by the investor and the documents confirming completion of reconstruction of objects.

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* Between the investor, RUP "Gomelyenergo" or RUP "Minskenergo" and the contractor.

2.6. decisions on withdrawal and provision to the investor of the parcels of land from forest lands of forest fund (the nature protection, recreational and improving and protective woods) for implementation of the investment project, and also about transfer of such lands in other categories for the purposes specified in this subitem are accepted by the Gomel regional executive committee without approval of the President of the Republic of Belarus.

3. Provide in accordance with the established procedure to the organization created by the investor, mountain branch for development of the Petrikovsky field of potash salts with the term of use of natural resources of 50 years.

4. In three-months time to provide to Council of Ministers of the Republic of Belarus the conclusion of the investment agreement with the investor and together with the Gomel regional executive committee to take other measures for implementation of this Decree.

5. To the Gomel regional executive committee provide provision to the investor or the organization created by the investor after the conclusion of the investment agreement:

geological branch for carrying out geological studying of subsoil of the Petrikovsky field of potash salts;

the parcels of land for implementation of the investment project.

6. To impose control over the implementation of this Decree on the State Control Committee.

7. This Decree becomes effective from the date of its signing.

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