July 4 (SeeNews) - Bulgarian government granted on Wednesday a 35-year concession of quartz-kaolinite mine Balabana near the town of Silistra to mineral extracting and processing company Kaolin.
The company plans to invest a total of 15.5 million levs ($9.2 million/7.9 million euro) in the mine for the whole concession period, the government said in a press release.
The concession fees are expected to amount to over 11.5 million levs.
Kaolin is part of German conglomerate Quarzwerke Gruppe.
Silistra is a town on the Danube river in northeastern Bulgaria.
(1 euro=1.95583 levs)