Market Herald logo


Be the first with the news that moves the market
  • Precious and base metals miner Adriatic Metals (ADT) has received an environmental permit for its Veovaca open cut mine in Bosnia and Herzegovina
  • The permit from the Federal Ministry of Environment and Tourism is a key milestone for the company as it looks to go mining at its Vares Project
  • As a result, Adriatic has now submitted an urban planning permit to the Federal Ministry of Spatial Planning
  • Once the company has received that permit, it can apply for an exploitation permit, which is the final hurdle before it can go mining
  • Adriatic is up 1.7 per cent following the news today, selling shares for $1.19 each

Precious and base metals miner, Adriatic Metals (ADT), has completed the first step in its quest to go mining at its Veovaca open cut mine, after being granted an Environmental Permit by the Bosnia and Herzegovina Ministry of Environment and Tourism.

It’s a key milestone for the company, who need just two more permits to begin mining operations at its Vares project.

“We are grateful to the Ministry for expediting the issue of the Environmental Permit and are pleased that yet another step in the procedure for exploitation permission has been completed”.

Chief Executive Officer & Managing Director, Paul Cronin

The company has now submitted its application for an Urban Planning Permit to the Federal Ministry of Spatial Planning.

Once it receives that permit, the company can jump the last hurdle by applying for the exploitation permit, the final tick of approval before it can start mining. The permit covers the Veovaca mine, plant and tailings facility.

As part of the approval procedure, the Ministry will hold a public hearing in Vares where members of the public can comment on the application, and if necessary, the company is given an opportunity to respond.

Adriatic Metals’ Vares Project comprises a historic open cut mine at Veovaca and brownfield exploration at Rupice, an advanced proximal deposit which the company claims exhibits exceptionally high grades of base and precious metals.

Adriatic is up 1.7 per cent following the news today, selling shares for $1.19 each.

ADT by the numbers
More From The Market Herald

" Korab Resources (ASX:KOR) completes $1.9m capital raise

Korab Resources (KOR) shares have dipped after the exploration company announced it had raised $1.9 million in extra cash through a capital raise.

" Almonty Industries (ASX:AII) updates market on South Korean mine development

Almonty Industries (AII) has updated the market regarding progress at its underground South Korean mine site.
Australasian Gold (ASX:A8G) - Managing Director, Dr Qingtao Zeng

" Australasian Gold (ASX:A8G) enters December well-funded

Australasian Gold (A8G) has entered the December quarter well-funded with more than $7 million in cash reserves.
Wildcat Resources (ASX:WC8) - CEO, Sam Ekins

" Wildcat Resources (ASX:WC8) finds further pegmatites at Red Panda

Wildcat Resources (WC8) has found new pegmatites at the Wildplay Joint Venture (JV) Project in Western Australia’s Eastern Goldfields region.