First Shipment of Ore Concentrate from Vareš Heads to Ploče

Adriatic Metals BH has dispatched the first shipment of ore concentrate from the Vareš processing plant to the port of Ploče, officially initiating the first sales contract for the concentrate and securing the first million-dollar payment from international buyers.

Adriatic Metals BH has achieved significant success with the first shipment of concentrate from the Vareš mine, less than three months after starting production. This endeavor represents the largest post-war investment in Bosnia and Herzegovina, with investments totaling 400 million BAM. The company has also reconstructed the railway line connecting Vareš with the port of Ploče, enabling ore transport to smelters in Belgium, Norway, Sweden, Spain, and Italy.

Paul Cronin, CEO of Adriatic Metals BH, stated:

"I am proud that less than three months after starting production, we have managed to achieve the first export and sale of ore concentrate from our mine in Vareš."

The ore processing plant utilizes the latest technology and adheres to the highest standards of environmental, health, and safety protection. Currently, it produces high-quality concentrates, with silver content exceeding 2,500g/t and nearly 50% zinc.

Cronin added that the plant will move to 24-hour operation and that they expect further production increases in the coming months, aiming to reach full capacity by the fourth quarter of this year.

For more information, read the full article on Bloomberg Adria.