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Bulgaria terminates three mining concessions

Author Mario Tanev
Bulgaria terminates three mining concessions Author: Mineco. Licence: All rights reserved.

SOFIA (Bulgaria), December 12 (SeeNews) - Bulgaria's government said that it has decided to terminate three mining concessions, two of which upon the request of the concession holders.

The government terminated the 25 year concession contract for mining building materials awarded to local company Fintex in 2008 due to the company's failure to make the agreed concession payments, the government said in a statement on Wednesday following its weekly meeting.

Another building materials mining concession - for the Kartal tepe deposit, was cancelled as requested by local company Vris, which received the concession in 2003.

A fluorite mining concession for the Lukina padina deposit was cancelled upon the request of its current holder - Bulgaria Fluorite. The concession agreement was signed in 2005 with Italy's N&N Trading, which transferred it to Bulgaria Fluorite in 2011.