Нежинский ГОК. Фото: Белта.
Belarus’s Finance Ministry, Belinvestbank and the Development Bank are linked to an investment project of interest to the United States — the Nezhinsky mining and processing plant. This explanation was offered by economic analyst Georgy Grits on the STV television channel.
“The logic here is that all these companies are directly connected to one investment project — the Nezhinsky mining and processing plant. After the Russian investor withdrew from the project, the plant was left relatively ownerless, and the state assumed control and took over the shares. If we are talking about attracting a new investor, for example an American company, the Finance Ministry will be responsible for securities. The Development Bank will also be involved — previously, a $1 billion loan from a Chinese investment bank passed through it. Belinvestbank performs the functions of a regular commercial bank, handling payments. The question is why this project became part of a broader package deal between Aliaksandr Lukashenka and Donald Trump,” Grits said.
According to him, understanding the situation requires taking into account the interests of both Belarus and the United States.
“Potash fertilisers are an important export product for Belarus, generating more than $2 billion a year. This specific commodity has come under sanctions — both American and European. Lithuania has also added its own restrictions, refusing to allow Belarusian goods. From the U.S. perspective, the situation is even more complex. The Canada–U.S. conflict is directly related to this project. Around 90% of potash fertiliser imports for American farmers come from Canada. If problems arise with Canada, the U.S. will need alternative sources of this strategically important raw material. Farmers, who are a very strong electoral segment for Donald Trump, require stable supplies. The Nezhinsky mining and processing plant, which can produce 2 million tonnes of fertilisers, could significantly improve the situation, making the U.S. more independent in this regard,” the analyst said.
He added that the project is also important for Belarus. “Successful fertiliser exports generate budget revenues that can be directed toward social projects and defence. Thus, the project has direct benefits for ordinary Belarusians,” Grits said.
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Aliaksandr Lukashenka has mentioned the possibility of selling the Nezhinsky plant to the United States several times in recent months. Last Friday, he said the American side was considering a deal to purchase the potash facility in Belarus. Judging by his remarks, the main issue is the price. In December last year, at the All-Belarusian People’s Assembly, Lukashenka said he had предложил the American side to buy the potash mine, a “new plant”, for $3 billion.
The United States is lifting sanctions on Belinvestbank, the Development Bank of Belarus and the Finance Ministry. This was announced by John Coale, special envoy of Donald Trump, after a meeting with Lukashenka in Minsk last Thursday, March 19.