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24/02/2024
Mining News

Bulgarian Government Grants Lucky Invest Extended Mining Concession

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

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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.

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

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