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The largest companies in the Mining sector are profitable in 2022 The largest mining companies in Bulgaria slow their growth slightly in 2022, with their revenues increasing by an average of 19% (26% in 2021). At the head of the sector remains the state-owned "Mini Maritsa-East", which mines lignite coal in the Mariska basin, with a turnover of over BGN 865 million. In 2023, however, Maritsa-Iztok 2 TPP sharply reduced production after the stabilization of electricity exchange prices made its electricity unsaleable. This led to a significant deterioration in the results of the mines - according to data for the first 9 months, revenues fell by 48% and the company reported a loss of BGN 99.6 million. The fastest growing is "RUA Bulgaria", which processes waste from the former tailings storage "Kremikovtsi" - by more than 137%. All companies in the top 10 report a profit, and mining companies are traditionally distinguished by the highest profitability. "Elacite - med", which ranks second. The company, which is part of Geotechmin, mines copper ores from the Elatsite deposit near Etropole, and its beneficiation factory is located in the village of Mirkovo, on the southern side of the Balkans. A procedure is currently underway to extend the concession, which expires in 2031, with proven reserves for another 10 years. The investment in the project will reach BGN 1.2 billion. The other large mining company - "Asarel-Medet", which operates near Panagyurishte, is accelerating its revenue growth.

 

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