Adriatic Metals (ASX ADT / WKN A2JMMA) recently announced the start of commercial production at the Vareš silver mine in Bosnia and Herzegovina!
In this case, this means that the Australian company was able to maintain the planned system throughput at 75% over 14 days and at 80% over seven days. At the end of June, a throughput of 2,000 tons per day or 90% of the nominal capacity was achieved.
As Adriatic explained, this milestone follows the resolution of problems relating to the capacities for treating the resulting tailings. The company completed the construction of the Veovača tailings facilities in March and stored the first material there in April. A special access road connecting the Vareš processing plant with the tailings facility was completed last month and has been in operation since then.
Europe’s First New Mine in more than Ten Years
The company also announced that mining is progressing well and that it had already completed 900 meters of underground development in the second quarter. This is a quarterly record. The plant is also running stably and the necessary permits, materials and personnel are available to keep production stable in the future.
Production itself had already started last year, making Vareš the first new mine in Europe in more than ten years.
Terra Balcanica Resources Wants to Follow the Great Example
The Canadian Terra Balcanica Resources (WKN A40DA5 / CSE TERA) is also active in Bosnia Herzegovina, only 80 kilometers away from the Vareš mine. Terra is also focusing on silver at its polymetallic Viogor Zanik project, but has also proven significant gold values there – and above all, antimony!
This special mineral is particularly important for the defense sector and, as the market is largely controlled by China, has increased sharply in value. At the beginning of the year, Terra Balcanica reported a borehole from the Brezani target area (part of the Viogor Zanik project), which is one of the best antimony boreholes of 2025!
Of course, Terra Balcanica Resources is still a long way from starting production, even if Adriatic is of course the great role model. The company has repeatedly presented promising drilling results – but largely before silver and gold went into steep flight – but has not yet defined its own resource. That should change now! We are eagerly awaiting the announcement of the start of the new drilling campaign in Bosnia Herzegovina!
