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UK Mineco's Bosnia lead zinc mine 2016 production results

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Company “Gross”, which exploits lead and zinc in Sase mine, near Srebrenica, in 11 months achieved a production of 306,372 tons of ore, which is 2.6 percent more than the same period last year or 3.28 percent more than planned for this period of the year.
President of the Board of Directors Jelena Petric announced for “Srna” that since the signing of concession agreement in 2007 when the British company “Mineko” that is, its’ company “Gross” took over the management of the mine, the exploitation plan has been constantly increased.
There is an increase of more than 180 percent compared to the period before contract signing. The mine employs 527 workers – this is the biggest corporate team in Srebrenica and among the three largest in the Birac region.
The average salary is EUR 487, with regular payment and payment of contributions, taxes and concession fee. 37 new workers have been employed this year.
Petric points out that there was a change of generations in the team in the last two years, as 104 workers have been retired, while younger workers have been employed instead.
“At that time we paid some EUR 102260 for severance payments to retired employees, while we financed training and professional retraining for about 300 new employees. Thus, we have created a database of qualified young workers who are able to work for a longer period,” explains Petric.
After training and additional professional retraining, 34 workers passed the expert examination in the field of exploitation, and 16 workers in the field of ore processing.
There is a constant testing of employees qualifications for the safety of independent work, equipment handling and means for work.
“Gross” has invested more than EUR 1.5 million this year for the reconstruction and modernization of the vehicle fleet, tools and equipment, explains Petric.
“We have purchased the mine wagons to export ore from the mining shaft, underground loaders, drilling hammers, compressors, flotation machines, trucks and equipment for all production units,” explains Petric.
Three lines for ore processing have been completely reconstructed in the flotation unit, thereby creating the conditions for increasing the volume of ore processing, or the production of lead and zinc concentrate.
By purchasing and installing new equipment the level of utilization of ore has been increased and losses in processing have been reduced, leading to improved operation efficiency and better financial results.
The mine has a modern, well-equipped laboratory where the analyses and experiments are conducted.
Petric says that exploration works are being tended and that new exploration corridors were built in order to prepare for the continuation of explorations and increase of ore exploitation volume.
“We are obliged with the concession agreement to invest EUR 14.3 million in the concession period of 30 years. We have already exceeded this amount last year, but it is not the end of investment activity and in the forthcoming year it is planned to invest EUR 2.7 million” specified Petric.

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