14 C
Supported byspot_img

Bulgarian Government Grants Lucky Invest Extended Mining Concession

Member of Europium Groupspot_img
Supported byspot_img

Bulgaria, a nation known for its rich reserves of minerals, has taken a significant economic step. The Bulgarian government has decided to extend the concession contract of Lucky Invest, a local mining company, for the Dzhurkovo lead-zinc deposit. This deposit, located near Plovdiv, the country’s second-largest city, has been the backbone of Lucky Invest’s operations since the year 2000. Now, with an extension of 26 years granted, the company is set to continue their operations in the area, further strengthening its foothold.

Lucky Invest: A Strong Player in the Mining Industry

Lucky Invest is not just any mining company. It operates on a large scale, mainly revolving around mining and processing metals. Its primary focus is on lead-zinc ores, which are abundant in the Dzhurkovo deposit. The company doesn’t stop at mining; it also involves itself in the production of concentrates and building materials. Furthermore, Lucky Invest maintains an active role in construction related to mining, ensuring a holistic approach to their operations.

Supported by

The Extension: A Win-Win Situation

The extension of the concession contract wasn’t an arbitrary decision. Lucky Invest requested this extension due to the presence of remaining lead-zinc deposits within the concession area. Clearly, the company wanted to ensure that the potential of the Dzhurkovo deposit is fully realized. The government recognized this potential and granted the extension following a government meeting. This decision seems to be a win-win situation for both parties involved.

Expected Economic Implications

Over the course of the extended period, Lucky Invest is expected to pay approximately $11.5 million (10.6 million euros) in concession payments. These payments will contribute significantly to Bulgaria’s economy and could potentially be used for further infrastructural development in the country. The extension, therefore, serves not only Lucky Invest but also the Bulgarian economy at large.


Source: BNN Breaking

Supported byElevatePR Digital

Related News

Serbia’s lithium wealth: Navigating global power struggles amid US-China trade tensions

The intensifying trade conflict between the United States and China over lithium resources, critical for the burgeoning electric vehicle industry worldwide, has thrust Serbia...

Overhauling Serbia’s mining policies: Towards sustainable resource governance

The contrast between Serbia and Norway in terms of resource management is stark. While Norway commands a significant share, ranging from 27 to 78...

Revolutionizing mining practices: “Zijin’s sustainable initiatives in Serbia

Over the past five years, "Zijin" has tackled air pollution in Bor and implemented a wastewater recycling system, ensuring no discharge into waterways, according...

Safeguarding critical raw material supplies amidst global competition

Arthur Leichthammer, a Geoeconomics Policy Fellow at the Jacques Delors Centre, emphasizes the urgent need for the EU to reevaluate its strategic approach to...
Supported by
Supported by
Supported by
error: Content is protected !!