site.btaVazrazhdane Submits Draft Resolution for Renegotiation of Mining Concession Contracts

Vazrazhdane floor leader Kostadin Kostadinov and a group of MPs have submitted to Parliament a draft resolution proposing that Parliament task the Council of Ministers with immediately renegotiating the current concession contracts for the extraction of gold, precious and rare metals. This was announced by the party's press center on Thursday.

Submitters point out that underground resources are exclusive state property, but currently the concession fees are insignificant compared to those globally, and the state has no real control over what and how much is exported. The companies operate non-transparently and after the cancellation of key clauses, the state can no longer check the amount of concentrate, gold, silver, copper and other precious metals.

According to Vazrazhdane, the contracts were concluded under radically different economic conditions and at significantly lower international prices for metals. Nowadays, the market situation has changed significantly, and according to the motives, Bulgaria continues to receive minimal income from its national wealth.

The MPs add that European practice shows countries periodically reviewing financial conditions when the market changes or when the public interest requires it. They insist that the government does the same to ensure higher revenues in the budget, and strict control over yields, investments, ecology and reclamation. If renegotiation proves impossible, the contracts should be terminated, added the parliamentary group.