Neil Bush: There is evidence of valuable rare earth element deposits in Bulgaria

Neil Bush is visiting Bulgaria. He is here at the invitation of energy expert Hristo Kovachki. The purpose of his visit is to expand cooperation between Bulgaria and the United States in the extraction of rare metals and elements.

“There is data from previous geological surveys indicating the presence of valuable deposits of rare earth elements in various parts of Bulgaria. If these resources are developed—with investment, time, and expertise—Bulgaria could become a central hub for the processing and supply of rare earth materials in Europe,” Neil Bush commented. He emphasized that Mr. Kovachki has the knowledge and experience to drive this process forward.

“Bulgaria has large coal reserves which, in addition to being used for energy, could also serve as a source of rare metals and elements. The country has already taken solid steps toward developing the extraction of such elements by signing a memorandum of cooperation with the University of North Dakota. If we all join forces and make a breakthrough in this industry, it will give our country a unique opportunity to become a leader in Europe. The extraction of rare earth elements will also allow more than 100,000 people in Bulgaria’s mining regions to preserve their jobs and thrive economically,” Hristo Kovachki added.

Rare earth elements are indispensable raw materials in many industries, including electric vehicles, wind turbines, aircraft manufacturing, and military systems. The rapid development of the green economy is driving growing global demand for rare metals and elements.

Currently, supply remains limited, with China producing 90% of the world’s rare metals and elements. Although it holds only about 60% of the reserves, it controls their processing.

“Since the start of the trade war, things have changed, and China is increasingly using these resources as a tool of influence. That is why the United States and Europe must seek alternative sources for the extraction and supply of these elements,” Bush said. He added that just days ago, the world’s first token for rare metals and elements was issued in the United States. This important milestone represents significant progress in the digitalization of real-world assets (RWA) in the critical minerals sector.

It enables tracking of materials from the mine to the market. The platform also includes automated compliance features related to defense and regulated markets, including validation of material origin against restricted jurisdictions, sanctions screening, investor verification, and more.

The rare metals and elements token will facilitate and increase transparency in the supply chain of these raw materials.