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Southeast Europe
September 7, 2018 www.intellinews.com I Page 17
sive portfolio, primarily consisting of gold, copper, zinc, and other metals, through investments in China and nine other countries.
This follows an investment spree spanning several continents over the last eight years. South China Morning Post estimated in 2016 that the company had spent around RMB7.9bn on 13 overseas deals
Bulgaria’s ruling coalition shaken by resignations
Denitsa Koseva in Sofia
Bulgaria’s ruling coalition was seriously shaken and came close to collapse following the resigna- tions of three ministers as Valeri Simeonov, one of the leaders of the junior coalition partner, strongly objected to Prime Minister Boyko Borissov’s decision to order the ministers to step down, and threatened to quit.
This is not the first time Simeonov has seemed unhappy with his partners, but this time he gave a final ultimatum to Borissov to change the way the coalition is working and start making decisions more transparently.
On August 31, Borissov demanded the resigna- tion of Interior Minister Valentin Radev, Transport Minister Ivaylo Moskovski and Regional Develop- ment Minister Nikolay Nankov over their political responsibility for a bus crash that killed 17 people and left many more wounded six days earlier.
There are suspicions that the deadly accident could have been caused by defects in the road construction; it was built by Trace Svoge, which
in Africa, Asia, Australasia, Canada and Latin America. Of these, the purchase of a 49.5% stake in Ivanhoe Mines’ Kamoa copper project in west Africa was the most significant, accounting for RMB2.52bn of the total. As of close of trading on September 5, the company had a market capitali- sation of HKD83.094bn on the Hong Kong stock exchange, Bloomberg data showed.
Valeri Simeonov gave a final ultimatum to PM Boyko Borissov to change the way the coalition is working and start making decisions more transparently.
is majority-owned by local construction company Trace Group Hold.
All the ministers told to resign are from the quota of Borissov’s GERB party. In a statement over
the weekend Simeonov said that his party, the far-right National Front for Salvation of Bulgaria (NFSB), strongly objects to Borissov’s move as it was not coordinated with his coalition partners.
“The frenetic replacement of executives liquidates the statehood and hits badly the possibility for execution of the coalition programme,” Simeonov said in a statement.
A day later, on September 3, he decided to give a last chance to the coalition following a meeting of the United Patriots, the far-right junior coalition partner, which, apart from NFSB, comprises the Bulgarian National Movement (VMRO) and Ataka.
The United Patriots are very shaky and Simeonov has already said that most likely the rightwing union will not survive until the next election.