Adriatic Metals Secures Regulatory Approval for Veovaca Tailings Storage Facility

UK-based Adriatic Metals has announced it has obtained all essential regulatory permits for the initial phase of the $5 million Veovaca tailings storage facility located near its Vares Processing Plant in Bosnia and Herzegovina. On October 24, the Federation’s ministry of energy, mining and industry approved permits for Phase 1 of the facility, which was chosen as an alternative site after a July 2024 court ruling restricted access to state forestry lands. The Veovaca facility, situated approximately 2 km from the processing plant, does not utilize state forestry lands, as Adriatic Metals holds the surface rights for the area. The company plans to commence tailings disposal at the facility in December 2024, with Phase I expected to support 4-5 years of production, and the facility projected to remain operational for over 10 years. Furthermore, Adriatic Metals had officially launched the Vares silver project on March 5, an investment amounting to $250 million.