Adriatic Metals PLC, represented by chief executive Paul Cronin, has commenced the transition process to assume control as the mining operator at the Rupice Mine in Bosnia and Herzegovina. This strategic move aims to enhance productivity and sustainability. Following an Accelerated Development Action Plan (ADAP), the company is taking operational control from Nova Mining and Construction, having invested approximately $11 million in equipment and inventory. This transition enables Adriatic Metals to directly oversee the mine’s operations, develop its local workforce, and optimize costs by integrating local suppliers into its supply chain. Moreover, the company has introduced new technologies and bolstered health and safety measures under the ADAP to minimize operational incidents and environmental impacts. To support these initiatives, Adriatic Metals has secured a $25 million short-term loan facility from Orion Mining Fund, bolstering its working capital. These strategic steps align with broader efforts to enhance efficiency and position the Rupice Mine as a driver for local economic development.
Tag: Adriatic Metals PLC
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Adriatic Metals and Boliden in ‘green zinc’ partnership
In 2021, Boliden, the renowned Swedish firm, made an announcement regarding the expansion of its Odda smelter, a significant development aimed at producing green zinc. To achieve this, Boliden has partnered with Adriatic Metals PLC, which will supply zinc concentrates from the Vares silver project. The objective is to ensure the highest standards of environmental, social, and governance (ESG) practices in the production of this essential metal.
The expansion of the Odda smelter will result in a remarkable 75% increase in production capacity, reaching an impressive 350 kilotonnes per year. As a result, the Odda site is now recognized as one of the most environmentally friendly locations worldwide.
Vildana Mahmutovic, the Head of Sustainability at Adriatic Mines, expressed admiration for Boliden’s exceptional ESG performance within a demanding industry landscape. She emphasized that Adriatic Metals is fully aligned with Boliden’s dedication to sustainability standards and best practices, making their operations the ideal partner to support Boliden’s sustainability goals.