Soniachne Remeslo Centre starts amber mining in Rivne Oblast

Concorde Capital CEO Igor Mazepa announced the start of amber mining in Rivne Oblast and emphasised the importance of amber extraction legalisation in Ukraine

Igor Mazepa, CEO and Owner of Concorde Capital investment company, announced the start of amber mining in Rivne Oblast and laid stress on the importance of amber mining legalisation in Ukraine.
In May 2021, Soniachne Remeslo Centre LLС (investment project of Concorde Capital group) began extraction of raw amber at its deposit near Volodymyrets village, Rivne Oblast.

“We have made a long journey to obtain an amber mining licence from all relevant government authorities. We strive to build a transparent competitive market, where amber is not sold for next to nothing and the forest is not destroyed. That is why we have planted 18 hectares of forest in a nearby abandoned field before starting extraction. This will be the case with our field as well: we will restore 60 hectares of forest after completion of mining operations. A relevant reforestation agreement is already in place with a state forestry administration,” said Yuri Blahodyr, CEO of Soniachne Remeslo Centre.

According to geological exploration data, the reserves make about 40 tonnes of raw amber, with the field to be exhausted in five to six years. Key markets are Ukraine, China, and Arab countries.

The company has launched an online marketplace, https://ambertrade.com.ua, for anyone to buy amber at auctions.

“I am happy to announce another outstanding project of Concorde Capital, Soniachne Remeslo. Investment in the project was about US$5 million. We expect it to pay back in one or two years. We see good prospects in legalisation of the amber mining market that will benefit all stakeholders: the government that will generate tax revenues, companies that will be able to make profit, and people who will get jobs,” commented Concorde Capital CEO Igor Mazepa.

He added that the region was experiencing a real environmental disaster triggered by illegal amber mining, but legalisation of this market would enable reforestation.

“We are set to develop two lines of business: extraction and sale of amber, as well as processing and sale of finished products to end customers. We plan to use all modern trading platforms. In particular, we are starting online auctions where everyone can buy amber,” said Halyna Symkha, a shareholder of Soniachne Remeslo Centre.

Company profile:
Concorde Capital is Ukraine’s leading investment company founded in 2004. It offers a full range of international brokerage and investment services. Using various financial instruments, the company has raised over US$3 billion for Ukrainian companies operating in mining, automotive industry, real estate, chemicals, oil and gas, agriculture, and pharmaceutical sector.

Soniachne Remeslo Centre is a private Ukrainian company that extracts and processes raw amber at the Volodymyrets Skhidny deposit. The company has obtained a special subsoil use permit for amber extraction in a field of over 83 hectares until 2029. Soniachne Remeslo Centre is 58% owned by Concorde Consulting; 32%, by Yuri Blahodyr; and 10%, by Halyna Symkha, according to the State Register.