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04.10.2018 10:19
Trash Enerdzhi will be the new concessionaire of Minyor section of the Bobovdol Coal Basin
The decision of the Council of Ministers envisages a change in the clauses of the concession contract related to the provision of a bank guarantee

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Trash Enerdzhi EOOD will fully assume the rights and obligations under a concession contract for the extraction of solid fuels - brown coal, from the Minyor section of the Bobovdol Coal Basin. This was decided by the government, approving the change requested by the existing concessionaire - "Fundamental" Ltd., the government press office reported.

The Minyor section of the Bobovdol Coal Basin is located in Bobov dol municipality, Kyustendil region. The concession contract for brown coal mining was concluded in 2005 for a period of 35 years.
Today's government decision also provides for a change in the clauses of the concession contract related to the provision of a bank guarantee. Up to now, the bank guarantee required 50% of the concessionaire's monetary obligations. After the amendments, it will apply 100% to all (not just monetary) obligations associated with the execution of the concession contract. Following the introduction of a wider coverage of the bank guarantee, contributions to the fund for final exit of the concession area will also be financially secured with it.
According to another decision of the Council of Ministers, the concession contract for the extraction of building materials - sands from the "Goren Bliznak 2" field will be terminated by mutual consent of the parties. The deposit is located in the municipality of Avren, Varna district. In July 2011 a concession contract was signed with Eskana AD, Varna. In its request for termination of the contract, the company states that the market situation requires restructuring of the assets of the concessionaire and limiting the cost of maintaining it.
The Government also approved the change of the concession area of the Saragyol - nests 17 and 20 ("Yellow Dol") deposit, which is for the production of non-metallic minerals - industrial minerals, proposed by Kaolin EAD, Senovo. The concession area is set at 838.6 decares. The legal possibility to change the concession area upon a motivated request of the concessionaire is regulated by the Mineral Resources Act. Kaolin EAD motivates their claim with the fact that the concession area does not cover the entire deposit when the concession was granted. Saragyol - nests 17 and 20 ("Yellow Dol") is located on the territory of Kaolinovo municipality, Shumen district. The concession contract was concluded in 1999 for a period of 27 years.

TAGS: concessions | bobovdol | coal 

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20.03.2022  Teodor Bobochikov, Managing Partner, V-Ridium
Energy Transformation – Trends and drivers
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