BUSINESS

New Investment worth $10 Million: Lead Mine a new Opportunity for Development

Investment in Lead Mine Olovo klix.baPreparations for the opening of the lead mine in Olovo, owned by the international group Mineco, are currently in progress, which represents an investment amounting to $10 million in total. Opening of the mine was planned for mid 2016, opening of 250 new jobs by the end of 2016, while the expected annual capacity of ore exploitation when the mine reaches full capacity amounts to around 150,000 tons.

All achievements in the field of environmental protection which are in accordance with the international standards will be applied during the construction of this mine. Thanks to the technology, waste water will be collected, purified, and reused with inconsiderable effect on the environment.

Traditionally, mining as an industry supports additional persons for each person employed in the mine. In a community like Olovo, direct employment of 250 people and a thousand additional indirect employment possibilities will mean a lot for the local economy,” said the Operational Director of Mineco Ltd. Dominic Roberts, adding that the most important feature of all phases of construction will be the engagement of local companies.

These preparations have been going on for two years now, in which we have invested a lot of time and energy for complicated and extensive administration, facing with overlapping of jurisdictions and other problems in the process of implementation of our investment,” Roberts explained, highlighting that this is a long-term project which will in time generate significant incomes for the country, the employees, and other branches of industry indirectly related with mining.

Speaking of how not much of professional population is left, Roberts specially emphasized that the Mineco Group will engage experienced engineers from around B&H, while it will also organize an official training in affiliated mines in cooperation with the University in Tuzla. As an important member of the local community, the company will be supportive towards the projects of Olovo Municipality which aim at social and humanitarian activities.

Mineco is an international Group focused on working in natural resources sector. Founded in 2003, Mineco Group operates in three key areas: trading in stock goods, mining of base metals, and smelting and processing of metals. The company is in private ownership and employs around 2,000 people in Europe. The mission of the company is based on ethical approach to the environment, local communities, employees, and partners.

Mineco Group is the majority owner of the company Gross Ltd. Srebrenica – Lead and Zinc Mine in Srebrenica and that is currently the only active underground mine of metals in B&H. besides this project, the Group currently invests in three developmental projects in B&H – Mine in Olovo, Novo Goradže and Čelebići near Foča.

(Source: klix.ba)

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