THE EUROPEAN Bank for Reconstruction and Development has drawn up plans to lend US $5 million to Bulgarian gold and copper mine Navan Chelopech A.D., to improve productivity and efficiency, "by bringing the mine up to international operating and environmental standards."

If the loan is approved by the bank's board, it would be the first that the EBRD has made to the Bulgarian mining sector. The mine has Europe's largest gold deposit in production, with resources in the region of 3.79 million ounces and reserves of 0.7 million ounces. ...

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