Montenegro opens red bauxite concession tender

The area under concession covers some 6.443 million square metres close to the village of Kuta within the Vojnik-Maganik ore region, the ministry said in a tender invitation on Monday.

The concession period will not exceed 30 years and will depend on the estimated reserves of rex bauxite, the annual exploitation capacities and the market demand, the document read.

Interested bidders should submit a 20,000 euro ($21,300) bank guarantee.

The deadline for submitting bids is May 23.

Red bauxite is the most important metallic raw material in Montenegro. Along with coal, red bauxite is the most important mineral raw material at all for the balanced development of Montenegro at present and in the future, the ministry noted.

($ = 0.941 euro)