The Brskovo mine 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.
Tara Resources acquired the project in 2018 and has undertaken significant drilling campaigns and technical and environmental studies, completing a Preliminary Economic Assessment in 2019 and a Pre Feasibility Study in 2021 proving the strong economics of the project.
Tara Resources is currently advancing the Feasibility Study for the project, as well as all requisite permits and approvals.
The Brskovo mine will consist of two open pit mines, a processing plant, and an integrated waste management facility.
The Brskovo mine will be the one of the largest zinc mines in Europe, producing approx. 45,000 tonnes of zinc in concentrate, 13,000 tonnes of lead in concentrate, 3,000 tonnes of copper in concentrate and approximately 1 million ounces of payable silver in the copper and lead concentrates.
The construction of the mine involves a capital investment of approximately €180m, and the project will be developed in line with the highest standards of environmental and social governance and sustainability.
The Brskovo mine will be one of the largest employers in Montenegro, employing approximately 700 people in construction, and 550 direct jobs and 200 indirect jobs during operations.
The project will be one of the largest contributors to export earnings, taxes and employment for Montenegro, and will restore the former glory of the Brskovo Mine as one of the famous mining regions in Europe.