6 November, 2022

Adriatic Metals builds underground mining fleet at Vares silver project

As Adriatic Metals gears up for first concentrate production at its Vares silver project in Bosnia & Herzegovina, it has revealed details of the mining fleet set to carry out work at the underground Rupice mine.

In its latest update, the company said project construction was 45% complete, with decline development progressing well – the lower decline currently being at at 210 m and upper decline at 100 m.

The majority of long-lead items and equipment orders were expected to come in on schedule, however global supply chain disruption has pushed first concentrate production from the end of the June quarter of 2023 into the September quarter, it said.

In the company’s 2021 definitive feasibility study, it shifted focus from a combined open pit and underground operation to an underground-only operation focused on Rupice, highlighting plans to mine 730,000 t/y of ore over a 10-year mine life.

In Adriatic’s most recent update, it highlighted that the fleet of vehicles required for Phase One (decline development) was on site, with delivery of Phase Two and Three vehicles commencing.

Among the fleet on site at Rupice is a Sandvik LH514i LHD, two Sandvik LH517i LHDs, a Cat 950L wheel loader, a Sandvik TH545i truck (second unit arriving in December), an Epiroc Boomer 282 jumbo drill, two Sandvik DD320 jumbos, two Sandvik DS311 rock bolters, two Titan IS26 shotcrete sprayers, three Titan BYM 6.0 underground mixer trucks and a Titan EC2 explosive charger.

Adriatic said the final project cost estimate had increased marginally from $170 million to $173 million, due to increases in engineering costs, plant and electrical equipment, including adjustments based on recent contract awards.