Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Diamond rush ahead?

БНР Новини
Photo: www.nbu.bg

Bulgaria isn’t generally known for its rich mineral deposits – there’s some coal, but not much, copper and zinc, manganese, iron ore, as well as a couple of lead and uranium mines, but they were closed down a while ago.  Oh, and some deposits of gold, that precious metal frequently found alongside copper and processed under a handful of concession agreements granted to foreign companies.  But none of that makes our country a producer of precious metals on any kind of industrial scale.  Yet now the news has broken that diamonds have been discovered in Bulgaria. 

Of course they’re not the type said to be a girl’s best friend, but a couple of miniature specks and flakes which, as if adding insult to injury, don’t even sparkle, but are black.  They were found a year ago in the Rhodope Mountains by Professor Rangel Gurov from the New Bulgarian University, but he’s only telling people about them now.  Diamonds are normally contained in kimberlite, an igneous rock, that isn’t found in Bulgaria.  But the scientist found precious diamond flecks in eclogite rocks in the Rhodope Mountains.

The question, however, is whether the same rock formations also contain real diamonds, the type that can be weighed in carats?  So far, no-one has been able to say for sure, despite all the stories and people talking about larger gemstones having been discovered in the past.  Here, though, it’s important to listen carefully to precisely what the university professor has to say, as he very clearly stresses the fact that the real value in diamonds doesn’t come from individual large stones, but from the diamond particles which make up ninety five per cent of all mined diamonds around the world.  These particles are mainly used in industry.  As well as featuring in cutting tools in the metal-working industry and for drilling, diamond particles are used in a number of space and military technologies, the scientist explains.  And the rock – eclogite – which the diamonds were discovered in, is itself exceptionally hard and can be used in different grinding processes, Rangel Gurov adds.

It’s still far too early to judge whether there’s an economic case for investing in the exploration and exploitation of diamond reserves in Bulgaria.  For the moment it appears more realistic and promising to examine what opportunities there are for people to find gold.  But if the researchers continue their work and confirm the presence of significant diamond deposits in Bulgaria, business certainly won’t let the opportunity pass by without making the sort of investments needed to trigger a genuine diamond rush.

English:  Christopher Pavis



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

NSI: Business expectations fall due to uncertain economic environment

In September, the overall Business Climate Indicator for the country decreased by 1 point compared to August. The decline reflects a less favourable assessment in the industry sector, where the indicator fell by 5.2 points. Managers in industry reported..

published on 9/30/24 2:02 PM

New procedure under Recovery and Resilience Plan provides access to over BGN 1 billion for businesses

The procedure for renewable electricity storage projects under the National Recovery and Resilience Plan is now open and proposals are being accepted. There is a lot of money, the deadlines are short and the conditions applicants have to meet are not..

published on 9/28/24 5:05 AM

The EBRD lowers growth forecasts, but is optimistic about inflation

The European Bank for Reconstruction and Development (EBRD) has slightly lowered its growth forecasts for the regions in which it invests. Bulgaria's economy will grow by 2.9 per cent in 2025, 0.1 per cent less than initially forecast in May...

published on 9/26/24 1:17 PM