PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of January 17, 2012 No. 37

About development of the Petrikovsky field of potassium 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 potassium salts with construction of mining and processing complex I decide:

1. 1,5 of one million tons of potassium chloride a year is at least enable in 2012-2022 the realization of the investment project on industrial development of the Petrikovsky field of potassium 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 contract 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 source of financing of the investment project;

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