Legal and Economic Basis for Performing Mining Activities in Southeast Europe

Document from the year 2009 in the subject Law - Civil / Private / Trade / Anti Trust Law / Business Law, , language: English, abstract: Mineral resources are essential for the existence and the development of our modern society. Metal resources are used for the production of a wide range of merchandise. Industrial minerals are broadly used for pharmaceuticals and chemical products. Energy is provided on a large scale by non-renewable mineral resources, such as coal. The European Union represents a territory of low mineral potential. Of course there are several exceptions, like Poland having a high production of copper. The European Union is not able to cover the needs of the industry from domestic deposits and is therefore highly dependent on imports. The mineral potential of Western Europe has been used on a very high scale because the mineral wealth was already known in ancient times, whereas the deposits in Southeast Europe have not been exploited on such an extended scale as in Western Europe. Both economic and legal situation of many Southeast European countries are not well known in the Western world. This fact is caused by the changing political situation during the last decades, the therewith connected underdeveloped mining industry and a high complexity of legal requirements. In 2007, Bulgaria and Romania became members of the European Union. They represent the first Southeast European countries being accepted into the European Union. Croatia, Macedonia and Turkey are considered candidate countries, all located in Southeastern Europe. The increasing importance of Southeast Europe for the enlargement of the European Union may upgrade the European economic situation and the mining sector, resulting in reduced import dependence. However, it is essential to upgrade the Southeast European mining industry, which should preferably be done by foreign companies already having experience in mining. Two parameters are essential for investments in the mining industry: