Novi rudnici Ljubija from Prijedor invest €13m in opening of excavation site Buvač

Technical director of Novi rudnici Ljubija, Duško Vlačina, said that the opening of excavation site Buvač, the investment worth €13m, would be preceded by relocation of the course of the Gomjenice river, which passes through the center of the aforementioned ore deposit. In the scope of the first activities related to opening of excavation site Buvač preparations for exproprietion of the facilities and land located on Buvač are underway, as well as signing of the contract with Mining Institute Prijedor on Project for Strip Mine Buvač and procurement of part of equipment for realization of works. Before the opening of Buvač, which will take place in 2009, the ore will be exploited on the excavation site Jezero. Production of iron ore, which revived in December 2004, is planned to last for at least next 30 years. The right to exploitation is owned by Novi rudnici Ljubija, the company founded by joint investment of "Mittal Steel" with 51% and Iron Ore Mine Ljubija with 49%. The reserves of iron ore on all 3 strip mines of mine Omarska - Jezero, Buvač and Mamuze, amount to 50 million tons, whereas total reserves of iron ore, on 10% of geologically researched metalogenetic fields Ljubija, amount to 347.5 million tons.