Business expansion
Yuzhna Bulgaria; Yuzhen tsentralen; Kardzhali
Location of affected unit(s)
Mining / Quarrying
Mining And Quarrying
Mining Of Metal Ores
07 - Mining of metal ores

530 jobs
Number of planned job creations
Job creation
Announcement Date
11 August 2005
Employment effect (start)
Foreseen end date


Khan Krum, a gold deposit of 750,000 troy ounces, has been discovered by Balkan Mineral and Mining (BMM) near Krumovgrad, the company announced. The initial investment in the development of the field is expected to amount $75 million. Operating costs will reach a total of $79.8 million, BMM said. The concession commission fee to the state will stand at $5.2 million a year, in addition BMM will pay taxes to the amount of $25.9 million a year. The company expects to recoup its investments within two years following the beginning of the mine exploitation. The development of the field will provide 300 jobs, another 230 will be hired during the mine operation period within six years. According to Balkan Mineral and Mining this investment, which will amount $240 million, is the largest in the Rhodopes region and not less than 1,500 people are expected to be hired in the auxiliary processes.


  • 12 August 2005: Pari
  • 16 August 2005: Trud


Eurofound (2005), Balkan Mineral and Mining (BMM), Business expansion in Bulgaria, factsheet number 62085, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62085.