Adriatic Metals PLC, represented by chief executive Paul Cronin, has commenced the transition process to assume control as the mining operator at the Rupice Mine in Bosnia and Herzegovina. This strategic move aims to enhance productivity and sustainability. Following an Accelerated Development Action Plan (ADAP), the company is taking operational control from Nova Mining and Construction, having invested approximately $11 million in equipment and inventory. This transition enables Adriatic Metals to directly oversee the mine’s operations, develop its local workforce, and optimize costs by integrating local suppliers into its supply chain. Moreover, the company has introduced new technologies and bolstered health and safety measures under the ADAP to minimize operational incidents and environmental impacts. To support these initiatives, Adriatic Metals has secured a $25 million short-term loan facility from Orion Mining Fund, bolstering its working capital. These strategic steps align with broader efforts to enhance efficiency and position the Rupice Mine as a driver for local economic development.
Source and Credit: proactiveinvestors.co.uk
