Deputy Minister Nenov: Mineral industry has new responsibilities to achieve green goals

Deputy Minister Nenov: Mineral industry has new responsibilities to achieve green goals download this image

The Ministry of Energy closely monitors the development of the mineral and raw materials sector. It has always supported the sector with legislative initiatives, expertise and practical guidelines for the optimal use of natural resources to find a balance between energy and environmental protection. That is what Deputy Energy Minister Krassimir Nenov said at the opening of the sixth European Mining Business Forum in Sofia. He outlined the changed role of the sector in the current geopolitical environment, as well as its new responsibilities in the context of European green objectives and high competitiveness.

The Deputy Minister of Energy submitted data for 2023 that testify to the importance of this strategic industry for our country. The extraction of oil and natural gas takes place from deposits over 15.3 thousand hectares, solid fuels over 72.8 thousand hectares, construction materials over 10.2 thousand hectares, metal minerals over 8.5 thousand hectares, etc. Our per capita mineral extraction has grown over the last ten years and labour productivity is nearly 2.5 times higher than the industry average.

In order to have clean and affordable energy for all consumers, we must make a common effort to develop the mining and processing industry. In common dialogue we all will overcome obstacles to its growth, especially in securing critical raw materials, Krassimir Nenov stressed. In his words, the huge investments envisaged to achieve climate neutrality objectives imply sustainable value chains, including critical raw materials. Shorter and sustainable supply chains are important for both the energy sector and the economy as a whole, the Deputy Minister emphasized.

Deputy Minister Nenov identified the transition speed and the need to meet society's expectations as major challenges for Bulgarian energy. Flexibility of the system to ensure the demands of consumers at all times, both domestic and industrial. Europe's competitiveness is at stake if the issues of reducing dependence on imported energy sources and critical raw materials fail to be addressed. This requires continued open dialogue and governments to interact with science and business in order to create an appropriate investment climate and framework to retain existing investors and attract new, Deputy Minister Nenov concluded at the Forum.


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