Mineral Exploration, Production Takes Place on 1/4 of Bulgaria's Territory

Business | September 9, 2014, Tuesday // 12:02|  views

Photo by bnr.bg

Mineral exploration and production activities are being conducted on an area of nearly 29 000 square kilometers in Bulgaria, or over ? of the country's territory, according to data of the Ministry of Economy and Energy.

The area on which mineral exploration and production is carried out has doubled from 2012, when it amounted to 14.9 thousand square kilometers, according to statistics published by Trud daily.

The statistics includes Bulgaria's territorial sea and the Black Sea exclusive economic zone.

Bulgaria's Economy Ministry has received revenues of BGN 64.7 M from concession contracts since the beginning of 2014, down by 20% compared to the same period of 2012, when the total receipts amounted to over BGN 77 M.

The Economy Ministry is yet to receive BGN 37.5 M from concession fees due by end-July. The sum includes BGN 31 M owed by coal-mining companies.

The largest concession fees are paid for gold and copper mines by companies such as Chelopech Mining, Asarel Medet and Elatsite Med.

A total of 503 concession agreements for extraction of minerals are currently in force in Bulgaria for an area of over 1.7 thousand square kilometers, compared to a total of 438 concession agreements in 2012 and an area of slightly over 1000 square kilometers.

The biggest increase has been registered in the number of concession agreements for the production of building materials, currently at 374.

The area included in permits for prospecting and exploration has witnessed a substantial increase, going up from a rate of 13.9 thousand square kilometers in 2012 to a current rate of 27.26 thousand square kilometers.

Since the beginning of 2014, Bulgaria's Economy Ministry has conducted a total of 335 inspections and issued 3 penalty notices worth BGN 50 000, most of them for unpaid fees.

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Tags: mineral resources, exploration rights, concession fee, concession, concessionaire, Ministry of Economy and Energy, Chelopech Mining, Asarel Medet, Elatsite Med


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