4 April, 2016

Dundee biggest concessionaire contributor to state Bulgaria budget in 2013

Dundee Chelopech gold mine is the biggest contributor to state budget on the account of concession fees.

Nearly EUR 44.74 m is the amount of income to the state budget from concession contracts in 2013, a compiled report by the Bulgarian energy ministry revealed.

The amount of the income from fees is BGN 71.5 m, while the rest represents VAT, bonuses payable when signing a contract, interests, defaults, etc.

Dundee Precious Metals Chelopech EAD heads the contributors’ top list, providing 15,95 per cent of the income, followed by Elacite Med AD (13.02 per cent), Petriceltic OOD (11.79 per cent), Asarel Medet (7.8 per cent), and Oil and Gas Exploration and Production Plc. (3.5 per cent).

By December 31, 2013, there were a total of 485 active concessions for mineral resources, with 27 new concession contracts concluded and 12 new concession permits issued.