In May 2018, Tara Resources AG acquired the Brskovo mining project in Montenegro, which has the potential to be one of the largest and lowest cost open pit zinc mines in Europe, producing zinc, lead and copper concentrates.
The Project is located in the Mojkovac Municipality in northeastern Montenegro, approximately 100km northeast of the capital Podgorica. The project is well serviced by road, rail and power, close to international ports, and has access to a local population experienced with mining.
The Brksovo mine has a long history, with mining operations first recorded in the thirteenth century, with small-scale silver mining operations and a mint producing coins called the “Grossi de Brescova”. Mining exploration recommenced in 1950, with operations recommencing in 1976 and continuing through until 1991. In 2010, a new exploration and mining concession was issued, and drilling was conducted to grow the resource.
Since acquiring the project in 2018, Tara Resources has completed additional drilling to confirm and grow the resource, metallurgical testwork and environmental studies. Tara Resources is currently advancing the Feasibility Study for the project, as well as all requisite local project permits and approvals.