Montenegro has real potential in the field of mineral resources, but further progress depends on responsible planning, partnership cooperation and preservation of natural resources, it was assessed at a roundtable on strategies for accelerating financing of the mining industry.
The Acting Director General of the Directorate for Geology and Mining, Marko Vučinić, announced at a roundtable, organized by the US Bureau of Energy Resources (ENR) and the Ministry of Energy and Mining, that Montenegro has deposits of red and white bauxite, lead, zinc and rare minerals in technogenic deposits, and that further geological research is the key to their development.
State Secretary at the Ministry of Energy and Mining, Dino Tutundžić, said that cooperation with the USA and Deloitte contributes to a better investment environment.
"The development of mining must be sustainable and in accordance with environmental standards, and such gatherings are an opportunity to openly discuss the challenges in the sector," said Tutundžić at a gathering organized on Friday with the support of the US Embassy and the Chamber of Commerce (PKCG).
The aim of the meeting, as explained, was to consider obstacles in the early stages of mining project development and define ways to facilitate financing, reduce risks and encourage sustainable mining development in Montenegro.
Deloitte representatives, Cole Johnson and Glenn Brown, emphasized the importance of cooperation with Montenegro in the area of strategic minerals, as well as the need for alignment with EU standards and access to capital markets.
Head of Concessions Veselin Vukčević assessed that mining should be a strategic development branch of Montenegro, while Ranko Vukmirović from the Chamber of Commerce and Industry of Montenegro warned that it is important to establish a balance between economic valorization and environmental protection.
Representatives of the Geological Survey of Serbia, UNIPROM, the Ministry of Ecology, the mining inspection and concessionaires discussed research, potential and legislative frameworks.
Mining Inspector Draško Marković particularly emphasized the importance of research, including the potential of rare minerals in old mines.
The roundtable was held as part of the Energy and Mineral Governance Program (EMGP), which, with support from Deloitte, provides expert assistance to countries around the world in strengthening the transparency and competitiveness of the critical minerals sector.
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