Montenegro mining: Lead and zinc mine has a secure future, Mining
After many years of losses, the Polish company started returning invested money and to employ 130 people.
Lead and Zinc mine Grader Montenegro in Sulj near Pljevlja, has a secure future for at least 15 years, claims the president of the Board, Director Andrej Sari.
He explained that this is confirmed by the researches of deposits of mineral raw materials.
The mine operates as part of the Polish company ZGH Boleslav.
Sari also maintains that there are three unexploded deposits, which should provide sufficient quantities of mineral raw material for the operation of the mines for another 25 to 30 years.
In 2011, the Polish company bought a mine that once operated under the name „Hollow Rock”.
Polish bought mine from Veselin Pejovic, a buyer of the Podgorica KAP, who, after a long pause, re-activated production in 2006.
Sari maintains that the ZGH has invested more than EUR 30 million in Gradir so far and planning additional investments.
He said that, after many years of losses, the company began to return invested money and employ 130 people.
“March this year was the most critical period in Gradier’s life since I came. There was the possibility that mine would be completely closed. This decision lay on the table – there were no more opportunities for ZGH to finance work of the mine. It is financed for five years and there are no good results … It was necessary to produce concentrate 2,000 tons monthly or more, or the company will be closed. And what happened? I had a meeting with all the engineers and the only option was to start producing quantities that would be worth more than our costs. And everything has changed, in one day, since March, we started to produce about 2,000 tons every month. And all major problems have disappeared … I do not see that we will have any significant problems in the next 15 to 20 years, and maybe even longer. ”
Gradir to Poland transports lead zinc ore, and vehicles in one direction exceed 1,300 kilometers.
Sari said that they plan to produce 50,000 tons of concentrate per month.
He claims that Rudnik regularly settles obligations towards employees and the state.
- June 11, 2021 Slovenia: MOL Group’ retail acquirement agreement with OMV
- June 11, 2021 Serbia: NIS’ environmental projects investments
- June 11, 2021 Romania: IFC’s investments in Raiffeisen green bond issue