BANJA LUKA (Bosnia and Herzegovina), November 17 (SeeNews) – UK-based mining and energy group Mineco has invested $10 million (9.38 million euro) in rebuilding processing operations at a Bosnian lead mine in the municipality of Olovo, with plans to launch production there in the middle of 2016, local media reported.
Mineco Ltd acquired the mine through a tender in 2012 and has for the past two years been preparing to restart production, news daily Oslobodjenje reported on Monday.
The company plans to employ some 250 workers, Oslobodjenje said.
At a planned capacity of 150,000 t per year, Olovo will increase Mineco’s mining activity by nearly 25% in 2016, the UK company said on its website.
The company added that detailed laboratory and pilot programme test work has determined that the unique ore located in Olovo can be processed through gravity only, removing the need for the chemicals traditionally used in froth flotation plants.
Mineco was established in 2003 and now employs some 2,000 people in eight European countries.
In Bosnia, Mineco operates its biggest mine, Gross, situated in the eastern part of the country. It also operates two mines in Serbia.
($= 0.94 euro)