Vares Mine Worth an Estimated USD1bn

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Based on surveys at the Rupice and Veovaca sites in Bosnia and Herzegovina, the Vares mine is worth nearly USD1bn. According to the Dnevni Avaz, one ton of dug up material contains 1.01 g of gold and 120 grams of silver, B92 has reported. 

The Adriatic Metals company has announced that the value of the project is USD916m. 

The company added that surveys had revealed that one ton of material holds 3.5 g of zinc, 2.2 g of mercury, 0.3% copper and 23.2% barite. Adriatic Metals hopes to earn USD25m in 2022. 

According to the company’s estimates, the first returns will come after eight months of exploitation. The mine is located in the Zenica-Doboj Canton.