Bulgaria and the United States formalized a new partnership in the field of rare earth metals, following the signing of a Memorandum of Understanding between Bulgarian Energy Holding (BEH) and the University of North Dakota (UND). Prime Minister Rosen Zhelyazkov described the agreement as a milestone not only for Bulgaria’s mining sector but also for technological advancement in both countries, highlighting its potential to strengthen competitiveness, economic development, and national security.
“Rare earth metals are essential for technological progress and provide a strategic advantage in terms of competitiveness and security,” Zhelyazkov stated.
He stressed that the collaboration leveraged the scientific expertise of UND to unlock the natural resources of Bulgaria, particularly in the Maritsa Basin.
“Without the know-how and research capacity that UND brings, it would be difficult to realize the potential we expect from the Maritsa Basin and other regions,” the Prime Minister added.
Energy Minister Zhecho Stankov emphasized that Bulgaria was rapidly entering the global rare earth elements market, a sector expected to shape technological and economic development worldwide. Stankov noted that the memorandum marked the beginning of a comprehensive initiative combining resources, technology, and scientific expertise.
“This technology will open new economic opportunities for tens of thousands of people in the Maritsa Basin,” he said.
From the American side, Scott Snyder, Vice President for Research and Economic Development at UND, expressed optimism about the collaboration.
“This project represents a significant economic opportunity for Bulgaria, and we look forward to close cooperation in the future,” Snyder said.
He highlighted the practical impact of rare earth metal extraction, noting that it offered tangible solutions to real-world challenges while fully utilizing the opportunities provided by the earth’s resources.
The agreement underscores the strategic partnership between Bulgaria and the United States, blending scientific research, technological innovation, and natural resource development to drive sustainable growth and shared prosperity. (Novinite)