Bulgaria, which has a gold mine in the country’s south, has set a new record in its production of gold by 2020.
Bilal Elbaz, the Minister of Industry and Mining, said the milestone was the culmination of years of hard work by the Bulgarian government to achieve the goal of producing 1,600 tonnes of gold a day by 2020, which would bring the country within striking distance of the 2,000 tonnes a day it had previously produced.
“It’s a significant milestone in our gold production,” Mr Elbz said.
Bulgaria’s gold production of 1,621 tonnes was the highest of any country in the world in 2016, according to the World Gold Council.
The country’s gold reserves are estimated at more than 7,000 metric tonnes, or 8,000 billion cubic feet.
Bulgarian gold is being used as a fuel in aircraft engines, nuclear power stations, and industrial equipment.
The country’s government has also set up a special gold bank, and has bought gold from abroad.
Bulgarian President Gabor Vona said that the milestone would mark a new beginning for Bulgaria.
He said: “We will achieve this goal by investing in our national energy, in our industries and in our people.
This is the new Bulgaria.”