Bulgaria became a member of the European Union in January 2007 and has an existing network of quality infrastructure, including roads, power, rail and a copper-gold smelter. The country encourages foreign investment and offers corporate and personal flat income tax rates of 10 %. The transfer of profits and capital is unrestricted and a modern mining law was established in 1999. The cost of electricity ranks among the lowest in the European Union and the country possesses an affordable and highly skilled labour force.
Mining of base and precious metals in the region commenced during Roman times and continued up to present times. Over the last 50 years the country established a modern mining community. Modern Bulgaria is a significantly under-explored and low-cost mining jurisdiction that is presently undergoing renewed investment growth. The Tethyan Copper and Gold Belt in Eastern Europe has some of the lowest discovery costs worldwide. Large scale copper and gold mining takes place at the Elatsite, Medet, Chelopech and Ada Tepe mines. Notably, Raiden Resources is one of largest ground holders in the country.