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Solartec Esco won a 20-year license for graphite extraction at the Maidanska site of the Burtynske deposit in Ukraine's Khmelnytskyi region, bidding Hr.31.7 million ($737,209) in an auction that concluded on Feb. 26. This bid was significantly higher than the starting price of Hr.12 million ($279,100).

The Maidanska site, located near Burtyn, has an estimated 25.5 million tons of ore and over 40 million tons of prospective resources, covering an area of 310.4 hectares (767 acres). Solartec Esco is affiliated with SOLARTEC Holding A.S. from the Czech Republic.