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Bulgaria extends term of Vatia Holding minerals mining concession by 15 yrs

Author Mario Tanev
Bulgaria extends term of Vatia Holding minerals mining concession by 15 yrs Author: Flazingo Photos. License: Creative Commons, Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)

SOFIA (Bulgaria), July 24 (SeeNews) - Bulgaria's government said on Wednesday that it has extended the term of a minerals mining concession for the Ovcharovo deposit held by local Vatia Holding by 15 years.

The extension was requested by the company which considers that the deposit still holds significant resources, the government said following its weekly meeting.

The 20-year concession contract for the Ovcharovo deposit was signed in 2006 but entered into force as of December 1998, when the privatisation contract was signed.

Last year, Vatia Holding halted quartz sand mining from the Pobit Kamak deposit, 25 km east of Sofia, due to protests from people living in nearby villages.

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