Asset Report
Vares gold mine
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Report summary
The Vares mine project is located near the town of Vares around 50km north of Sarajevo, the capital of Bosnia and Herzegovina. The concession holds many small historical mine workings and prospects. This analysis is based on the Definitive Feasibility Study released in 2021 which builds on findings from Scoping and Pre-Feasibility Studies completed in 2019 and 2020, as well as the updated mine plan released in January 2024. A eighteen year mine life, increased from 10 years, expects to produce on average 35kt/a, 25kt/a, and 5kt/a of contained zinc, lead and copper metal, with 3.7Moz/a and 30koz/a of contained silver and gold. The barite and pyrite concentrates which were studied in previous technical reports will no longer be produced and a SAG mill is replaced for a three stage crushing process. Total initial capex came to US$190 million.
Table of contents
- Summary
- Key issues
- Mining
- Processing
- CAPEX
- Royalties & taxes
Tables and charts
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- Detailed Map
What's included
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