Bulgaria's Mining Industry Optimistic, Set to Boost Production

Most of Bulgaria's mining sector is optimistic for 2011. Photo by BGNES

The corporate members of the Bulgarian Chamber of Mining and Geology are primarily optimistic about the country's mining industry, a survey of the Chamber indicated.

About 63% of the members of the Bulgarian Chamber of Mining and Geology have declared their positive expectations for 2011, while fewer than 25% have expressed pessimism.

Exactly one fifth of the mining businesses in Bulgaria have decided to increase their output in 2011, 18% are going to expand their investment program, while 13% intend to hire new workers.

Almost half, 45%, of the Bulgarian mining companies saw 2010 as more successful than 2009, while 35% it declared it was basically the same.

About 18% of the mining firms laid off personnel in 2010, and downsized their production programs. At the same time, 5% created new jobs, and 15% increased their investments.

The greatest problems for the Bulgarian mining sector are the lingering effects of the economic crisis, the inefficiency and bureaucracy in state institutions, unfair competition, and flawed legislation.

95% have assessed highly the work of their branch organization, the Chamber of Mining and Geology, in defending their interests.

The survey included all sub-sectors involved in the Chamber – geology, metal ore extraction, coal mining, mining of industrial non-metal materials, extraction of oil and natural gas, and extraction of construction materials.

Bulgaria's mining industry accounts for about 5% of the country's GDP, employs directly 30 000 people, and indirectly supports the employment of another 120 000.

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