Record production in Gross Mine in 2017 - Investments to double

The lead and zinc mine “Gross” PJ Srebrenica registered record ore production in 2017, exceeding the plan by 4.5 percent, as indicated by the annual business report of the Mine. The report also presented plans for significant increases in investments for 2018.

There was 347,000 tons of run-of-mine ore produced during 2017, achieved, inter alia, through investments to the amount of approximately EUR 1.743.900 (a total of KM 3,410,911.56).

In addition to the regular activities, a particularly important segment was work on the development of exploratory corridors and exploratory wells in the pit and on the surface, used to provide evidence of ore reserves at the amount of annual production.

A new exploratory-preparatory corridor “Iva” was opened last year within the Mine, at the “Vitlovac” bed. It is extremely important for the future of the Mine and the continuity of production activities along new beds.

For 2018 the Mine is planning to double investments, primarily in equipment, facilities and project documentation, as well as mining and preparatory works.

The goal of these investments during the current year is to maintain total production at the level of 345,000 tons of run-of-mine ore, to build a corridor along the ore in the “Vitlovac” district, and prepare new excavation blocks to provide continuity of production in the longer term.

There are currently 516 persons employed at the Gross Mine, and just as during all previous years, all their personal salaries, taxes, contributions and accelerated retirement dues have been paid in full and on time. A total of 29 new workers were hired during 2017.

According to the Business Report, during 2017 the Gross Mine paid an amount of approximately EUR 870.000 (a total of KM 1,694,240.60) for concession fees to the account of the budget of Republika Srpska, under the code for Srebrenica, meaning that between the signing of the concession agreement in 2007 and the end of 2017 the Mine paid approximately 5.913.000 EUR (a total of KM 11,566,599.20) for this purpose. The amount of the fee is established quarterly, depending on the price of metals on the London stock exchange.

MINECO Plus doo Beograd

Hristov Consulting d.o.o. Beograd

GROSS d.o.o. Gradiška

Veliki Majdan Ljubovija

BOSIL-METAL d.o.o. Bosilegrad

Mineco Limited

lead and zinc mine Gross Srebrenica

Gross

lead

zinc

antimony

cerussite

antimony mine Novo Gorazde

cerussite mine Olovo

Rudnik Gornji Milanovac

Veliki Majdan Ljubovija

Bosil Metal mine