Bosnia mining: Mineco’s Bosnia based Olovo lead mine ready for exploitation

22. February 2017. / Mining

After the investigation in Ocekalj deposit, the Federal Ministry of Energy, Mining and Industry held the public hearing in the middle of last week in Olovo, and for the company “Geomet” Olovo it legally represents the last step in the process of acquiring the exploitation permit for the lead carbonate -cerussite.

Representatives of the aforementioned ministry, Olovo municipality and the Ministry of Economy of Zenica-Doboj Canton and local communities Dugandzic and Krusevo visited the mine and attended the public hearing.  After the presentation of all the steps and documents obtained in the process of acquiring the permit all these participants gave a positive opinion regarding the issuance of this key document.

In a statement to Radio Olovo, General Manager of the company “Geomet”, Ismar Sabovic said that around EUR 2.5 million have been invested in the project since 2012 and that issuing exploitation permit is one of the key steps for the start of the production cycle.

The company i.e. its investors have plans to invest another EUR 5.1 million in the near future, and to hire 200 workers in addition to current 30 employees. Representatives of the competent Federal Ministry said that after the positive opinion given in the public hearing they will grant the exploitation permit.

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