Hungary's mineral wealth resurgence: A golden opportunity
Potential gold and silver deposits have been discovered in the northern part of Hungary, in the Börzsöny Mountains, that could significantly alter the country's economic landscape. Preliminary estimates suggest that these mountains may contain roughly 9,000 tonnes of gold and equal silver. The total value of these resources is estimated at approximately 756 billion dollars.
Hungary has a long history associated with the extraction of precious metals. From the 13th to the 16th century, the country was one of the key players in this industry.
Hungarian mines then supplied over 80 per cent of Europe's demand for gold and silver. Annual production exceeded one tonne of gold and ten tonnes of silver, placing the country third in the world. The latest discoveries offer hope that Hungary will once again become an important hub for extracting these valuable resources.
The gigantic potential of the Börzsöny deposits
The discoveries in the Börzsöny Mountains have been confirmed by both the Hungarian Geological Service and the Szolnok Mining Department. It is estimated that the first gold and silver bars could leave the foundry in less than a decade.
According to the portal divany.hu, gold processing will begin no later than 6–7 years from now. In the subsequent 12 years, the company responsible for this project plans to extract a thousand tonnes of gold and an equal amount of silver.
Preparations for exploitation
A special company has been set up to carry out preparatory work—Börzsöny Aranybánya Concession Mining Company. This enterprise is already formally registered and is seeking all the necessary permits to commence full-scale mining operations.
The company plans to hire between 380 and 400 people in its first year of operations. In subsequent years, the number of employees is expected to gradually increase, reaching 1,500. This means that the project could become a key component of the resource economy and provide new jobs in the region.
What does the future hold?
In the coming years, Hungary could once again be among the most important countries extracting precious metals. The deposits discovered in Börzsöny provide hope for economic growth and attract investors from around the world. Although extraction will begin no sooner than a few years from now, Hungary is already preparing to return to its mining roots, which have been one of the pillars of its economy for centuries.
The future will reveal to what extent these resources can be utilised sustainably and beneficially for the country and its inhabitants. One thing is certain—information about the enormous gold and silver deposits in northern Hungary is generating interest within the country and worldwide.
