Projects under development

Olovo: Located 40 kilometres to the North of Sarajevo, the Olovo cerussite (lead carbonate) mine was abandoned in 1990 during the Bosnian civil war. In the intervening years the processing plant was completely destroyed but the underground workings, hosted in very stable limestone rock, remained relatively intact. Mineco Ltd acquired the mine through tender in 2012 and will start processing operations in the summer of 2017. Detailed laboratory and pilot programme test work has determined that this unique ore can be processed through gravity only; removing the need for the chemicals traditionally used in froth flotation plants. Mineco is currently finalising the mining plan and training the first team of miners & engineers to build the project over the coming 9 months. At a planned capacity of 150,000 tonnes per annum Olovo will increase Mineco’s mining activity by nearly 25% in 2018.

MedosMineco has been granted the concession for the planning and building of a small hydropower project ‘Medoš’ in Republika Srpska, Bosnia and Hercegovina.  Situated at the river Drinjača in the municipality Zvornik, the plant will have a capacity of over 4.5 Mw, capable of producing approximately 18GWh of electricity for the region per year. The current plan also includes the construction of a fish-pass in accordance with environmental legislation. Providing stable energy infrastructure from renewable sources to the region is crucial for the enhancement of the economic and social outlook across the area.  Following issuance of the construction permit, work commenced in April 2017 and is scheduled for completion within 18 months.

CelibiciThe Čelebići project is an active exploration concession Mineco acquired in 2015. Located in Bosnia, right on the border to Montenegro, the license area extends over 42 km 2 with altitudes ranging from 620m to 2238m above sea level. The exploration targets are swarms of high grade polymetallic Pb-Zn-Cu-Ag narrow vein mineralisation  hosted in andesite rock. This project is particularly interesting because of its high potential and limited previous exploration work. Most of the exploration work is done through mapping, drilling and underground exploration drives. Intensive exploration is planned for 2017, focusing on several previously identified and promising targets within the exploration license.