The EBRD has subscribed to 2.6 percent of the share capital of Adriatic Metals PLC with an investment of GBP 6.2 million (EUR 6.84 million). The Bank's financing supported the company to transition its operation from exploration to mine development. The proceeds from the Bank's equity subscription are funding engineering and economic studies to complete a Bankable Feasibility Study (BFS) and associated pre-development cost for the Vareš mining project.
As a condition of EBRD’s equity subscription, Adriatic Metals is required to prepare and disclose an Environmental and Social Impact Assessment (ESIA) in line with EBRD’s Performance Requirements for the Vareš mining project. ERBD is not providing financing for the development of the Vareš mining project but is monitoring its development as part of its equity shareholding in Adriatic Metals.
ESIA disclosure package
1. Non-Technical Summary (NTS): English | Bosnian
2. Stakeholder Engagement Plan: English | Bosnian
3. Environmental and Social Impact Assessment (ESIA): English | Bosnian
4. Environmental and Social Management Plans (ESMP): English | Bosnian
Full ESIA availability
Full ESIA documentation is available at:
Vareš Information Centre (operated by Adriatic Metals/Eastern Mining)
Vares Processing Plant Administration Building (operated by Adriatic Metals/Eastern Mining).
EBRD Resident Office in Sarajevo
Contact person: Sanja Hardaga
Telephone : +387 33 257 900
15th Floor, Tower B
Fra Andela Zvizdovica 1
Bosnia & Herzegovina
Environmental or social enquiries
Adriatic Metals/Eastern Mining
Contact person: Vildana Mahmutović
Address: Eastern Mining d.o.o., Tisovci bb, Vareš
Telephone: +387 62 922 215
Web: https://www.adriaticmetals.com | https://www.easternmining.ba
Contact Name: Dominic Roberts
Address: Adriatic Metals PLC, Regent House, 65 Rodney Road, Cheltenham, GL501HX, United Kingdom
Email: dominic.roberts ’at’ adriaticmetals.com
This document was prepared at an early stage of project development, before consideration by the EBRD Board of Directors. Details of a project may change following disclosure.
Environmental and Social Impact Assessments and ESIA summaries are produced by project sponsors, and the EBRD makes them available without any comment or implied endorsement. Any views expressed or statements made in the Environmental and Social Impact Assessment or the ESIA Summary do not necessarily reflect the views or opinions of the EBRD.
Last updated 25 June 2014