Why Bosnia's silver mine will help the West in the race for metals: One of Europe's largest projects will soon be completed

(Patria) - In the Mail on Sunday last weekend, journalist Francesca Washtell discussed the importance of Adriatic Metals BiH's Vareš Project for reducing the European Union's dependence on China when it comes to the supply of key metals and minerals, especially in light of the green revolution expected by 2040.

Noting that production is expected to begin this year, the journalist points out that 'this
silver and zinc mine is one of the largest new mining projects in Europe.'

The article further highlights that 'the Vareš Project by Adriatic Metals, which is listed on the London Stock Exchange, will be one of the few major sites on the European continent where metals crucial for the green revolution will be developed.'

The journalist points out that 'the Vareš Project has received support on the ground, as it has helped strengthen the local Bosnian and Herzegovinian economy.'

This is supported by the fact that this Project recently received the status of a 'Project of Special Importance' for Bosnia and Herzegovina, demonstrating the significance of this operation in terms of its economic contribution of 25% of total foreign direct investment in a Balkan country and its projected contribution to GDP of 2%. Expectations are also that thanks to the Vareš project, 2024 will be the first year since gaining independence in 1991 that Bosnia and Herzegovina will record a trade surplus, meaning higher exports than imports.

The article further highlights that 'international investors, politicians, and manufacturers are advocating for it because such a project in Europe would facilitate access to materials needed for the green revolution, in which silver, whose conductivity makes it ideal for use in wind turbines, and other traditional metals like copper will be key. It is expected that by 2040, the world will need four times more of these critical metals for green technologies than today to even approach meeting net-zero carbon emission targets.'

Peter Handley, Head of the Critical Raw Materials Unit at the European Commission, emphasized in this regard that 'the green and digital transition will greatly increase our need for these materials,' and 'economies of the future will no longer rely on oil and coal, but on lithium, silicon, and rare earth pigments.'