Fri, Mar 16 2012

Bulgaria's ore exports rise 10% in H1 2011 - industry group

Thu, Aug 18 2011 21:51 CET 1388 Views
Bulgaria's ore exports rise 10% in H1 2011 - industry group

Photo: Dnevnik

Bulgaria's ore exports are seen to have grown by 10 per cent in the first half of 2011, according to estimates by the Bulgarian Chamber of Mining and Geology (BCMG).

The country's exports of metals, minerals and other resources were worth five billion leva in 2010, contributing about five per cent of gross domestic product.

"In 2010 we recorded a six per cent growth in mining. Bulgaria ranks fourth in Europe in terms of gold extraction," BCMG's chairman Luchezar Tsotsorkov said.

In addition, raw materials extraction for the energy and metallurgy sectors has increased significantly, accounting for 37 per cent and 36.7 per cent of the country's mining production, respectively, he said.

According to BCMG data, Bulgaria's mining sector employs 30 000 people, with related industries bringing workers' total number to 120 000.

Managers, trade union representatives and industry experts attending BCMG's 20th anniversary on August 18 said that they were happy with the recent amendments to the Mineral Resources Act, as they provided for the establishment of a single authority to oversee the management of natural resources, which used to be conducted by three ministries.

The industry representatives also support the new method for allocation of revenues from concessions, which stipulates that half of the collected fees will be added to the state Budget, while the rest will go to the local municipality.

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