Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) has initiated the transition to become the mining operator at the Rupice Mine in Bosnia & Herzegovina, marking a significant step towards enhancing productivity and sustainability. Chief executive Paul Cronin detailed the company's move to take over operational control from Nova Mining and Construction, following the acquisition of equipment and inventory valued at approximately $11 million. This transition is part of the company's Accelerated Development Action Plan (ADAP), aimed at optimizing operations and integrating local suppliers into the supply chain to reduce costs and support the local economy.
The implementation of new technologies and upgraded health and safety measures under the ADAP is expected to minimize operational incidents and environmental impacts. These improvements are crucial for the mine's long-term sustainability and its role in fostering local economic growth. To finance these initiatives, Adriatic Metals has secured a $25 million short-term loan facility from Orion Mining Fund, providing the necessary working capital to support the transition and ongoing development efforts.
This strategic shift not only allows Adriatic Metals to directly manage and develop its local workforce but also positions the Rupice Mine as a key driver of economic development in the region. By focusing on efficiency, sustainability, and local integration, the company aims to set a new standard for mining operations in Bosnia & Herzegovina. For more information on Adriatic Metals PLC and its operations, visit https://www.adriaticmetals.com.
