BiH: Concession for lead, zinc and barite exploitation in Veovaca approved

26. March 2013. / SEE Energy News

Leading Company “MM Projekt” from Krusevo, which is the daughter company to Australian Company “Balamara”, got approved concession for lead, zinc and barite exploitation in Veovaca and Rupice-Jurasevac sites in Vares region- radio Bobovac reports.

The agreement was signed by Minister of Ze-do Canton Economy, Djemil Ugarak and Director of “MM Projekt” Milijana Dilber Milicevic. Mayor of Vares municipality, who thanked to Ministry of Resources for issuing the concession which means a lot for municipal population, also participated in the contract signing.

“MM Projekt” has already paid the amount of 175.205 KM as one-term concession fee and 70% of assets go to Vares municipality. The minimal annual realization of concession subjects is 100.000 tons of crude minerals and concession fee is 1,50 KM.

Director Milijana Dilber Milicevic stressed that 20 to 30 workers will be employed at start and when research period is over around 100 workers should be employed.

Minister of Economy, Djemil Ugarak, expressed pleasure because investors recognized resources’ value on Zenica-Doboj Canton area and the concession agreement signed today doesn’t mean only new assets’ inflow in cantonal and municipal budget, but new work places are also being opened, which is the most important thing.

Source Serbia Energy SEE desk/Agencies

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