Swiss-based ARCORE finds rich lithium deposit in Bosnia

Rock Tech Lithium

17/11/2023 17:01

SARAJEVO, Nov 17 (Reuters) - Swiss miner ARCORE said on
Friday its exploration in eastern Bosnia had found mineral
deposit rich in lithium carbonate, magnesium and other minerals
that are in demand in Europe.
    The company said it has a strategic partnership with
Canadian-German company Rock Tech Lithium  RCK.V  to secure a
reliable and long-term supply of lithium products from the
Lopare mine to Rock Tech Lithium´s European converter
operations. 
    "ARCORE is confident that it will be able to mine the raw
materials in an environmentally and socially responsible manner
from the end of 2026," it said in a statement. 
    "The Lopare project has the potential to become one of the
largest mines of its kind in Europe," it added.
    The company said that after working with local and
international authorities and mining and sustainability experts,
it had completed the exploration that lasted since acquiring the
licence in 2018.
    It plans now to apply for a concession to mine the deposit,
foreseeing investment of several hundred million euros over the
next few years, it said.
    The deposit, located about 140 km north of the Bosnian
capital Sarajevo, in the country´s autonomous Serb Republic, was
scientifically estimated and confirmed by expert reports in
2022, and also by the regional mining and energy ministry this
year, the company said.
    It said that several European raw materials institutes and
the European Lithium Institute (eLi) supported the project, as
well as the German Mineral Resources Agency (DERA). 
    ARCORE said that international estimates and technological
tests showed the total mineral resource base of the Lopare
project at 1.5 million metric tons of lithium carbonate
equivalent, 14 million tonnes of boric acid, 35 million tons of
potash and 94 million tons of magnesium sulphate. 
    It said that its partnership with Rock Tech Lithium will be
an important building block in the development of a regional and
domestic value chain for electric vehicle batteries in Europe. 
    It also said that it will use the latest technology and the
highest safety standards to minimize the environmental impact on
air, soil and water.
    People living in the region of Lopare deposit are suspicious
of the project after protests just across the border in Serbia
succeeded in 2022 on environmental grounds to revoke the licence
granted to Rio Tinto  RIO.AX  for the Jadar lithium project.

 (Reporting by Daria Sito-Sucic; Editing by David Evans)
 ((daria.sito-sucic@thomsonreuters.com; +38733 295 484; Reuters
Messaging: daria.sito-sucic.thomsonreuters.com@reuters.net))