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25/04/2024
Mining News

Montenegro, Tara Resources invested EURM 25 in the Brskovo zinc mine

EUR 25 million has been invested in the Brskovo mine so far, 550 people will be employed in it during operation, and more than 700 during construction, said the representatives of Tara Resources, which is implementing this investment in Mojkovac.

– When it starts working, the mine will generate approximately EUR 100 million in export sales per year and this will increase the total Montenegrin exports by more than 20% – the company stated.

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As announced by the Government, Prime Minister Dritan Abazović together with ministers and the President of the Municipality of Mojkovac Veska Delić visited the Brskovo mine, where they spoke with the Executive Director Ričard Boffi and the manager of relations with the Government Ratka Sekulović.

The announcement states that this is the largest investment in Mojkovac, which is of great importance for this city, Montenegro, and beyond.

– Starting the operation of the Brskovo mine, the investment is worth EUR 150 million. The planned direct income for Montenegro will amount to 150 million from taxes and concession fees during 17 years of working life, while the annual income from taxes will be from 5 to 7 million EUR, so it is expected that Brskovo will become the most profitable company in Montenegro – the announcement states.

The annual concession fee that will go to the budget of the Municipality of Mojkovac will be around EUR 3 million and will double the budget of this municipality.

– The Brskovo mine will produce an average of 45 kt zinc, 10 kt lead and 3 kt copper and it will be one of the leading zinc mines in Europe. It is important to point out that the predicted qualities of the concentrate attracted the interest of several international trading firms and smelters – said company representatives.

Brskovo, they stated, has started implementing a strategy for training and employing the majority of employees at the local level and will require contractors to cooperate with local subcontractors.

Prime Minister Dritan Abazović expressed his satisfaction that work is being done to improve the planning document and expects it to be completed soon and acceptable to the Government, especially in the part of the environmental criteria.

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