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Tara Resources invested more than EUR 30 million in the Brskovo mine

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The Brskovo mine should have a significant positive impact on the north of Montenegro, announced the company Tara Resources, which, since acquiring the right to the concession in 2018, has invested more than EUR 30 million in research, technical and environmental studies.

“We are aware of the current media attention focused on the Brskovo mine in Mojkovac, which is why we believe it is of crucial importance to provide the public with accurate information and clarify the current situation,” Tara Resources said.

They said that since the acquisition of the right to the concession in 2018, more than EUR 30 million has been invested in research, as well as in technical and environmental studies, which fulfilled the requirements set by the Government.

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The company reminded that the concession is valid until 2040, and that it is now in the phase of detailed spatial planning – a process led by the Government and managed by the Ministry of Ecology, Spatial Planning and Urbanism.

According to its representatives, the company has provided all the necessary studies and supporting documentation for that phase.

“When the Government adopts the detailed spatial plan, the company will be required to submit project documentation for the next phase, which includes the design of the main facilities and environmental impact assessment, in order to obtain approvals, permits and consent for the project.” However, the Government’s constant administrative delays in the implementation and completion of detailed spatial planning resulted in the extension of the time frame for the submission of those documents,” the company stated.

They added that the project complies with the highest international environmental standards, including the International Financial Standards of the World Bank (IFC) and the requirements of the European Bank for Reconstruction and Development (EBRD).

“Mining waste will be safely contained in two integrated solid rock waste management facilities, eliminating the need for a conventional tailings dam and preventing potential dust generation. This also solves the problems that previously arose in Mojkovac, due to the former tailings dam, which was not reconstructed many years after its closure,” the company announced.

They recalled that the project envisages responsible water management, recycling rainwater for on-site use and treating excess water to ensure that only high-quality water leaves the project area, significantly improving the quality of water affected by former mining activities.

The Brskovo mine is expected to have a significant positive impact on the north of Montenegro, creating more than 550 direct jobs, making a significant share of export revenues, tax revenues and concession fees for the Government, and supporting the development of local municipalities, including the preservation of cultural heritage and history of mining,” Tara Resources said.

Tara Resources, as they announced, continues to cooperate transparently and proactively with the Government, the Municipality of Mojkovac, the local community and other interested parties in order to advance the Brskovo project, which has the potential to bring significant benefits in employment and the economy of Montenegro, while respecting the highest international standards environmental protection.

They also stated that a detailed description of the project, including environmental management plans in accordance with world best practices, is available on the company’s website www.tararesources.com.


Source: Montenegro Business

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