Bulgaria seeks to revise Canadian company’s mining concession

SOFIA (AP) – Bulgaria’s environment minister said yesterday that a 30-year gold-mining concession deal with a Canadian company needed revision because it did not suit government interests. «It is a question of national interests,» Dzhevdet Chakarov said. «The state must also benefit from the concessions.» Canada’s Dundee Precious Metals Inc acquired a 30-year concession three years ago to mine gold in the region of Chelopech. The company is also trying to get government approval for two investment projects – to expand the Chelopech mine and to exploit another gold deposit near the southern town of Krumovgrad. Laurence Marsland, Dundee’s vice president, however, has said the company would rather withdraw its investment projects at Chelopech and Krumovgrad than bow to pressure.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.