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Success case story in Serbia & Bosnia, UK Mineco ltd mines record growth of exploitation

Lead and Zinc Mine Sase in Srebrenica, which operates within the companies ‘Gross’ ltd. whose majority owner the British Company Mineco Ltd, excavating 304.000 tons of ore, has exceeded the annual plan for the exploitation for 8.66 percent, by which this mine recorded the continued growth in production for over seven years of operation. This growth is in line with the company’s long-term plan, and it is excavation of 350. 000 tons of ore mined in one calendar year.

With regard to these business results, Jelena Petric, president of the Management Board of Gross Ltd. says:

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“In 2014th, we recorded good operational results, we exceeded the projected plans and all we are much closer to our goal – to dig 350. 000 tons of ore per year. Last year’s increase in production for nearly 9 percent is not accidental, because we work at full capacity to achieve our goal. We are aware that a great deal is ahead us and therefore we constantly improve the production process and invest heavily in equipment and professional training of employees. So far we have invested about 10 MEUR in machinery and we plan additional investment of around 2MEUR and employment of 40 – 50 new people. Mine Sase is important, not only for economy of Republika Srpska, namely BiH, but primarily for this region and people who work in it. Considering this, a few years back we have done research works and proving new ore reserves, with aim to extend the life of the mine in relation to the existing reserves and to provide a normal life for people who live and work here”.

During 2014th , as part of the Mine Sase also was accredited the laboratory – it is laboratory for carrying out physical-chemical analysis, ores and minerals sampling and fiscal – chemical water testing according to the standard BAS EN ISO / EC 17 025: 2006 as well as geological analysis of a region of both entities of Republika Srpska and BiH Federation. In collaboration with the High School Center ‘Pale’ in Pale and the Mixed secondary mining school Tuzla, there were trained 65 workers for mining jobs, and 520 workers are currently employed in Gross.

In addition, the mine participated last year in numerous activities intended for socially vulnerable population, sporting and cultural societies and children, and it sent a humanitarian help to the municipalities Sekovici and Celinac, which were affected by catastrophic floods. Mine Sase has excellent cooperation with the municipality of Srebrenica and it will participate financially in the rehabilitation of regional road Bjelovac – Sase, which was severely damaged in the last year floods.

Lead and Zinc Mine Sase in Srebrenica, which operates within the companies ‘Gross’ ltd. whose majority owner the British Company Mineco Ltd, wholly fulfills the legal obligations to the state – by regular paying of the mining rent, but also to workers, especially to those employed in jobs for which it is predicted the benefited employment status. Wages are paid regularly, and since the company starts to work, there have not been layoffs, even in early period when there was a break of several months in business.

Besides this mine in Bosnia and Herzegovina Mineco does research works in the old antimony mine near Novo Gorazde, and in cerussite mine near Olovo. Also, with its partners Mineco managed zinc and lead mines in Serbia: ‘Mine’ near Gornji Milanovac and ‘Veliki Majdan’ at Ljubovija, and Bosilegrad is preparing for the opening of the lead and zinc mine ‘Bosil-Metal’.

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