No active requests for exploitation – as announced by the Ministry

We transmit the announcement in its entirety:

Company “Zlatna reka resources ltd” from Belgrade has permits for carrying out geological research in the localities of Leča Rogozna, Zlatni kamen, Šanac Rogozna and Pasji potok, all of which are in the territory of Novi Pazar. For the locations of Leča, Zlatni kamen and Pasji potok, research permits were issued to other companies and the same were transferred to the company “Zlatna reka resources ltd”.

“Zlatna reka resources ltd” from Belgrade, in accordance with the Law on Mining and Geological Research carried out research on the approved exploration fields. During the investigation period, certain potentials were detected when discussed about ores containing copper and gold, but certainly further research will show whether the localities in question carry this type of metal content so that it could be considered prospective from the aspect of possible exploitation.

After the end of the research, the Elaborate on reserves and resources is prepared, based on which of the reserves and resources of a certain ore are determined and verified. Only after the submission of the Elaborate and its analysis by the Republic Commission can one speak with certainty about the exact quantity and quality of reserves in this area.

In addition to the mentioned company, the business entity ADRIATIC METALS d.o.o. from Belgrade has approvals for conducting geological research of lead, zinc, silver and copper, at the Kaznovići location, valid until November 26, 2024. The investigation field covers parts of the territory of Raška and Novi Pazar.

Regarding the opening of a mine, it should be noted that only geological investigations of metallic mineral resources last for several years and represent a great risk for investors, because it cannot be assumed with certainty whether deposits will be found. In specific cases, given that the research phase is in progress, we cannot talk about the opening of the mine.

It is a long way from research, finding the deposit, its verification and then obtaining the necessary permits for exploitation. Already in the first step, to obtain approval for research, it is necessary to obtain the conditions of the Institute for Nature Protection and the Institute for the Protection of Cultural Monuments. Those conditions define the limitations under which research can be carried out and whether it can be carried out in general. If multi-year research results in the discovery of a deposit, the procedure for verifying mineral reserves is carried out. If the company decides to obtain the necessary approvals for exploitation, it is necessary to prepare investment and technical documentation and obtain a whole series of opinions and conditions, as well as the consent of other republican authorities, primarily those related to environmental protection, water management, in terms of compliance with spatial planning documentation, fire protection, cultural heritage, etc. Only after the processing of the documentation and acts, and if all conditions are met, can exploitation be approved.

In the territory of Novi Pazar, exploitation is carried out in three localities, permits were issued in the period from 1968-2007. year, and exploitation is carried out by RMHK Trepča, Ukras a.d. and Novi Pazar put a.d