Mini Maritsa Iztok EAD is a 100% state-owned sole-proprietor joint-stock company, with a one-tier system of management. The Company was established by Order No. 84/10.06.1993 of the Chairperson of the Energy Committee, and the new Company accepted the assets and liabilities of Troyanovo-1 Mine Ltd., Troyanovo-North Mine Ltd. and Troyanovo-3 Mine Ltd. The Company was registered by Decision No 2773/07.07.1993 of Stara Zagora District Court on company file No. 2444/1993.
The capital of Mini Maritsa Iztok EAD amounts to BGN 121 124 700 divided into 12 112 470 shares with a nominal value of BGN 10 each. The total amount of the capital was subscribed and fully paid by the state.
Mini Maritsa Iztok EAD has been a subsidiary of the Bulgarian Energy Holding (BEH) since September 2008.
The Company subject of activity is as follows:
1. Extraction and sales of coal;
2. Industrial, commercial, leasing, repair and foreign economic activities;
3. Training and retraining of coal mining personnel for profit, as well as other activities not prohibited by law;
4. Carrying out rehabilitation and prophylaxis activities at the Company’s own holiday homes;
5. Trade in electricity;
6. Railway transport services of freight under internal communication, as well as other activities not prohibited by law.
On 11th August 2005 a Concession Agreement was concluded between the Council of Ministers of the Republic of Bulgaria and Mini Maritsa Iztok EAD as a concession holder.
Under the agreement signed, a thirty-five-year-long concession was established in favour of Mini Maritsa Iztok EAD for the extraction of coal from the Maritsa Iztok Coalfield deposit.
The Company activity is not restricted by a time limit or a termination clause.