At the end of January this year, production was supposed to begin in the mines in Vares. However, production has not yet started, and Adriatic Metals company explained why there has been a delay and what the new deadline is.
“Unexpected delays in the delivery of equipment that was on a ship whose route led through the Suez Canal have postponed concentrate production by several weeks,” Adriatic Metals company stated.
They further added that the remaining infrastructure related to the project, such as roads, railways, electricity, water treatment, and additional support, has been completed and is ready.
“At this point, every segment of production is undergoing a testing phase, and the opening is planned for the first quarter of 2024,” they said.
It is worth noting that this is one of the largest post-war investments in Bosnia and Herzegovina (BiH), and certainly the largest at the moment. Adriatic Metals BiH has invested nearly 400 million BAM to date in exploration, mine development, infrastructure construction, and processing plants.
In addition to directly strengthening the local economy through significant cash inflows into the public budget of the Zenica-Doboj Canton (ZDC) through taxes and contributions, as well as concessions, the company will seek to support the local community through various socially beneficial projects.
It is also worth noting that the volume of cargo in transit through the Suez Canal has decreased in recent months due to tensions in the Red Sea, namely the crisis in the Middle East. Armed groups from Yemen began attacking ships in the Red Sea following the outbreak of the war in Israel and the Gaza Strip.
All of this has led to delays in shipments worldwide as ships were forced to take much longer routes, Biznis Info writes.
E.Dz.
