26 July 2012

Ilovica Mine under concession, investments to reach EUR 700 million

Concessioning agreement over mine "Ilovica" was signed last week, whereas concrete exploitation activities are to begin very soon, said Economy Minister Valon Saraqini on Wednesday.

According to the plan of concessionaire "Euromax", investments will reach EUR 700 million.
Saraqini said the mine held 120 tonnes of gold and 700,000 tonnes of copper, which represents only 30 percent of the total concessioning field.
"If research is to resume in the remaining 70 percent of the concessioning field, there is big probability of finding other gold and copper reserves", said the Economy Minister at a press conference.

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