Tag: Bosnia and Herzegovina

  • DPM Metals Achieves Commercial Production at Vareš Silver-Gold Mine Ahead of Schedule

    DPM Metals Achieves Commercial Production at Vareš Silver-Gold Mine Ahead of Schedule

    DPM Metals Inc., a Canadian-based international gold mining company, has announced that it has achieved commercial production at its Vareš silver-gold mine in Bosnia and Herzegovina as of 10 August 2026. This milestone was reached by exceeding an average of 60% of the design throughput capacity and recoveries over a consecutive 30-day period, with daily throughput averaging 72% of the plant’s design capacity. This achievement not only underscores the operational efficiency of the Vareš facility but also positions the mine to reach its full production run-rate of 850,000 tonnes per annum by the end of 2026.

    David Rae, President and CEO of DPM Metals, expressed pride in the team’s dedication and hard work, noting that the early achievement of commercial production reflects the company’s commitment to building and optimising mining operations. Rae highlighted the importance of health and safety standards, local team training, and the transfer of proven operating practices as foundational elements for the mine’s success. He also acknowledged the support from local communities and stakeholders, which has been crucial in reaching this milestone.

    Looking ahead, DPM Metals anticipates that production at Vareš for 2026 will be at the higher end of its guidance range, estimating between 105,000 to 130,000 gold equivalent ounces. This positive outlook is based on strong performance in the first half of the year and the company’s strategic focus on sustainable and efficient gold production.

    DPM Metals operates not only in Bosnia and Herzegovina but also has projects in Bulgaria, Serbia, and Ecuador. The company’s strategic objective is to evolve into a mid-tier precious metals producer, leveraging its portfolio to deliver robust growth and above-average returns for shareholders. The announcement of commercial production at Vareš is a significant step towards achieving this goal, reinforcing DPM’s position in the competitive mining landscape.

    For further details regarding DPM’s production guidance and operational strategies, stakeholders are encouraged to refer to the management’s discussion and analysis available on the company’s website and SEDAR+ platform. DPM Metals continues to navigate the complexities of the mining industry while maintaining a focus on responsible and sustainable practices.


  • Bosnia’s “Green Transition” Dilemma: International Mining Companies Move In as Communities Fight to Protect Land, Water and Livelihoods

    Bosnia’s “Green Transition” Dilemma: International Mining Companies Move In as Communities Fight to Protect Land, Water and Livelihoods

    In the gentle hills of Majevica, a low mountain range in northeastern Bosnia and Herzegovina where farmers grow strawberries, keep bees and distil rakija, a battle is unfolding that mirrors conflicts playing out across much of the developing world: the collision between the European Union’s hunger for critical minerals and the communities whose land sits above them.

    Since September 2023, when residents learned by chance that Swiss prospecting company Arcore was preparing to drill for lithium on the mountain, a grassroots anti-mining movement has taken root across the region. Local activist Andrijana Pekić and her neighbours in Lopare founded an informal organisation to educate their community about the dangers of lithium extraction, collaborating with established environmental groups including Bijeljina-based Eko Put and Tuzla’s Karton Revolucija. Their core argument is unambiguous: “There is no such thing as clean lithium mining.” Tailings from extraction processes containing sulphuric acid and hazardous chemicals contaminate streams, groundwater and soil; rock dust pollutes the air for miles. Majevica’s waterways feed the Drina and Sava rivers, meaning environmental damage would ripple across a vast surrounding region encompassing Tuzla, Bijeljina, Brčko and Zvornik.

    Activists have conducted two petition drives, in 2024 and 2025, calling for a ban on lithium mining and the establishment of a nature reserve across most of the mountain. Both were dismissed by the Republika Srpska parliament. Arcore, meanwhile, has already conducted drill tests on private land — in some cases without the knowledge of landowners — with documented consequences. After the company drilled on the property of Jovan Krsmanović in the village of Vukosavci, both his well and a neighbour’s dried up entirely.

    Majevica is far from an isolated case. Lithium, magnesium, copper, nickel, cobalt and other minerals featured on the EU’s 2024 critical raw materials list have been identified across Bosnia and Herzegovina, and international mining companies have been awarded concessions across the country in circumstances activists and legal experts describe as opaque and frequently unlawful. A central grievance concerns a long-standing legal prohibition on the sale or change of use of state-owned property — a restriction rooted in unresolved property succession disputes following Yugoslavia’s dissolution — which both entities have repeatedly violated when doing so serves favoured investors.

    The most prominent example is the Vareš municipality in central Bosnia, where a concession was granted to Eastern Mining in 2018 and later acquired and expanded by Adriatic Metals, covering silver, zinc, lead and barite deposits. A significant portion of the land falls on state property. The company has been found guilty of clear-cutting forested land, while mining at the Rupice mine has contaminated drinking water supplies for the downstream town of Kakanj. In July 2024, Bosnia’s Constitutional Court ruled that the Federation’s granting of state-owned land use was unconstitutional — yet excavation was permitted to continue regardless.

    Federation Prime Minister Nermin Nikšić has shown little sympathy for conservationists. He dismissed those seeking to protect land around Vareš, suggesting it was irrational to allow “scrubland they call state property to lie useless rather than become a valuable investment.”

    The contradiction at the heart of the crisis is captured bluntly by Snežana Jagodić-Vujić of Eko Put: “Our entire country is being attacked. The green transition is clean there, but dirty here.” Campaigners point out that significant lithium deposits exist within the EU itself — in Portugal and Spain — where stricter environmental laws and stronger rule of law have at least slowed the pace of extraction following mass public protests. Bosnia and Herzegovina, riven with corruption and institutional dysfunction dating to the Dayton constitutional settlement, has so far offered mining companies a far more permissive environment.

  • Coal Sector Protests and Shortages Threaten Power Supply in Romania and Bosnia

    Coal Sector Protests and Shortages Threaten Power Supply in Romania and Bosnia

    Workers in the coal mining and thermal power sectors across Southeast Europe are facing mounting pressure from austerity measures and supply disruptions, raising concerns about electricity generation and energy security in the region.

    In Romania, employees of state-owned Complexul Energetic Oltenia (CE Oltenia) have staged protests, including hunger strikes, in response to proposed wage cuts and the possible cancellation of meal vouchers. Thirteen workers have reportedly gone on hunger strike, while demonstrations have taken place at several coal mines and one thermal power plant.

    During a meeting with union representatives, Prime Minister Ilie Bolojan stated that CE Oltenia could only be exempted from austerity measures if it improves efficiency and reduces reliance on state aid. A government memorandum clarifying the situation is expected to be discussed next week. Energy Minister Bogdan Ivan noted that Romania had previously renegotiated with the European Commission the closure deadline for certain coal-fired power plants, extending it beyond December 31, 2025.

    Union representatives warned that if their demands are not addressed, protests could escalate and further reduce already strained coal supplies feeding the Rovinari and Turceni thermal power plants, which are central to Romania’s power system.

    Similar challenges are emerging in Bosnia and Herzegovina. The Ugljevik thermal power plant is currently offline due to coal shortages and has recently reduced salaries for all employees. In late January, the Government of the Republic of Srpska agreed to transfer part of the Ugljevik coal concession from Comsar Energy RS, majority owned by Russian businessman Rashid Sardarov, to RiTE Ugljevik, the plant’s operator.

    The transferred deposit reportedly contains around 50 million tonnes of coal, enough to supply the plant for approximately 25 years. The reserves had originally been earmarked for the planned Ugljevik 3 project, which was never completed.

    Labor tensions have also surfaced at the Zenica coal mine, which is scheduled for closure. In September, miners staged a five-day hunger strike over unpaid wages.

    The combined impact of labor unrest and coal shortages has contributed to a sharp rise in electricity imports. In 2025, Bosnia and Herzegovina’s electricity imports reached a record €321.6 million, roughly double the previous year, partly due to production halts at coal-fired facilities.

  • Adriatic Metals Reaches Commercial Production at Vareš Silver Mine in Bosnia

    Adriatic Metals Reaches Commercial Production at Vareš Silver Mine in Bosnia

    Adriatic Metals has officially achieved commercial production at its Vareš silver operation in Bosnia and Herzegovina, marking a major operational milestone for the company. The announcement follows the successful ramp-up of the processing plant, which reached sustained throughput levels of 75% over 14 days, including 80% over the last seven days, and hit 90% of nameplate capacity (2,000 tonnes per day) in late June.

    Key to unlocking production was the resolution of tailings-related challenges. Adriatic completed the construction of the Veovača tailings storage facility in March, with tailings deposition starting on April 2. A newly completed access road between the Vareš processing plant and the storage site has been operational for the past month.

    Underground development at the Rupice mine, the project’s high-grade core, is also progressing well. The company reported 900 metres of development in Q2, a new quarterly record.

    “We are proud to announce the achievement of commercial production at the Vareš silver operation, marking a significant milestone that demonstrates our ability to operate at production levels that support strong cash generation,” said Adriatic CEO Laura Tyler. She credited the company’s team and management for their dedication in bringing the project across the finish line.

    All critical permits, equipment, and personnel are now in place, ensuring the operation is positioned for continued success and consistent output.

  • Adriatic Metals Secures Regulatory Approval for Veovaca Tailings Storage Facility

    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.

  • Adriatic Metals CEO Paul Cronin Resigns, Laura Tyler Appointed as Interim Leader

    Adriatic Metals CEO Paul Cronin Resigns, Laura Tyler Appointed as Interim Leader

    Adriatic Metals (ASX: ADT) (LON: ADT1) announced on Wednesday that Paul Cronin, the co-founder and chief executive officer, has resigned for family reasons. Cronin, who will continue at Adriatic Metals until August 9, will be succeeded by non-executive director Laura Tyler as the interim CEO. Tyler brings a wealth of experience, having previously served as the chief technical officer at BHP and held leadership roles in the Olympic Dam, Cannington, and Ekati underground mines.

    In a statement, Cronin emphasized the importance of leadership evolution, noting, “It is vital for the success of any company that management recognize the need to evolve, as the company evolves.” Under his leadership, Adriatic Metals transformed from an exploration company into a producer, delivering the first concentrate from the Vares silver mine in central Bosnia in less than seven years. Cronin, who has resided in Bosnia and Herzegovina since the project’s inception, will return to Australia, his home country.

    As Adriatic Metals moves forward, the company is focused on finalizing production enhancements at the Vares mine. Chairman Michael Rawlinson highlighted the ongoing efforts, stating, “We are making good progress on alternative plans to create additional tailings capacity and are concurrently revising the mine stope sequencing to maintain metal output while minimizing tailings generation.”

    In 2023, Adriatic contributed nearly 22% of foreign direct investment into Bosnia and 2% of the country’s GDP. The company deployed 69% of its total capital domestically, amounting to $155 million across 739 companies. Following the announcement of Cronin’s resignation, shares in Adriatic fell nearly 12%, closing at 130.91p in London, leaving the company with a market capitalization of £427.58 million.

  • Adriatic Metals PLC Initiates Operational Transition at Rupice Mine in Bosnia and Herzegovina

    Adriatic Metals PLC Initiates Operational Transition at Rupice Mine in Bosnia and Herzegovina

    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.

  • Adriatic Metals BiH successfully produces first ore concentrate in Bosnia and Herzegovina’s Vares project

    Adriatic Metals BiH successfully produces first ore concentrate in Bosnia and Herzegovina’s Vares project

    Adriatic Metals BiH proudly announced on February 27th, 2024, the successful production of the inaugural ore concentrate within the Vares project in Bosnia and Herzegovina. The Vares ore processing facility is poised to incrementally enhance its capacity in the following months, with a target processing capacity of around 65,000 tons per month expected by the fourth quarter of 2024.

    Paul Cronin, the general manager of Adriatic Metals BiH, expressed his satisfaction with the achievement, stating, “I am delighted to announce another significant milestone in the production of the first concentrate within the Vares Project.” He emphasized the utilization of advanced technology in designing and constructing the ore processing plant, with a strong commitment to adhering to the highest health and safety standards. Cronin extended his appreciation to the dedicated team for their diligent efforts.

    This milestone signifies a notable success for Adriatic Metals BiH and holds significance for the local community in Vares and the wider state of Bosnia and Herzegovina. The Vares project emerges as one of the most substantial post-war investments in the country, offering considerable economic and social benefits.

    Throughout the project, Adriatic Metals BiH has prioritized local employment, collaboration with regional suppliers, engagement with authorities at all levels, and the adoption of state-of-the-art mining technology. This holistic approach not only drives economic growth but also ensures enduring advantages for the Vares community well beyond the mine’s operational lifespan.

    Looking to the future, the company aims to further optimize the processing plant and expand underground operations in the ensuing months to achieve the targeted nominal production capacity by the fourth quarter of 2024.

    Excerpt: Adriatic Metals BiH celebrates the successful production of the inaugural ore concentrate at the Vares project, marking a significant milestone in Bosnia and Herzegovina’s mining industry.

     

  • Adriatic Metals Launches $250 Million Investment in Vares Project, Bosnia and Herzegovina

    Adriatic Metals Launches $250 Million Investment in Vares Project, Bosnia and Herzegovina

    Adriatic Metals, a UK-based company, announced on Wednesday the official launch of the Vares Project in Bosnia and Herzegovina, marking a significant investment valued at $250 million (230.2 million euros).

    The inauguration comes shortly after the successful production of the first silver/lead concentrate and zinc concentrate at the newly established Vares Processing Plant on February 27, as stated in a press release by Adriatic Metals.

    The Vares Project encompasses the Rupice Mine, which commenced mining operations in July 2023, and the Veovaca polymetallic deposit. This venture underscores Adriatic Metals’ commitment to tapping into Bosnia’s rich mineral resources.

    With a keen focus on plant optimization and production scaling, Adriatic Metals aims to achieve a consistent output, targeting a nameplate capacity of 800,000 tonnes per annum by the fourth quarter of 2024.

    Adriatic Metals, serving as a base metals developer, has bolstered its workforce in Bosnia, employing 255 individuals as of January 2024. Furthermore, the company is concurrently advancing its Raska Zinc-Silver Project located in Serbia, demonstrating its multifaceted approach to mineral exploration and development.

  • Adriatic Metals’ Shining Silver Story with Paul Cronin

    Adriatic Metals’ Shining Silver Story with Paul Cronin

    [vc_row][vc_column][vc_column_text]Paul Cronin is the Managing Director and CEO of Adriatic Metals listed on the ASX, OTC and LTE exchanges. Adriatic Metals is developing world class precious and base metal mining projects in the Balkans. Paul is a co-founder and along with the team has taken Adriatic Metals from explorer to producing in a 5 year period along with a healthy share price increase of 1700%. Paul discussed his professional history and why he fell in love with Bosnia. Paul is big on company culture, and this is evident through the initiatives Adriatic Metals has established and the success it is having. Paul highlighted the projects at the company, the benefits they will have on the community and what comes next. Here is Paul Cronin.

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