(Alliance News) -Â Adriatic Metals PLC on Tuesday said the Federal Ministry of Environment & Tourism has issued an environmental permit for Veovaca, one of the key approvals required for the issue of an exploitation permit.
The permit covers the Veovaca mine, plant and tailings facility, and its receipt allows Adriatic to apply for an urban planning permit from the Federal Ministry of Spatial Planning. This application has now been made.
The Veovaca open cut mine is part of the Vares project in Bosnia & Herzegovina.
Upon receiving the urban planning permit, the application for exploitation will be made to the Federal Ministry for Energy, Mining & Industry. As part of the approval procedure, the ministry will hold a public hearing in Vares.
Paul Cronin, chief executive and managing director, commented: "We are grateful to the ministry for expediting the issue of the environmental permit and are pleased that yet another step in the procedure for exploitation permission has been completed."
Shares in Adriatic were down 0.5% at 66.90 pence in London on Tuesday.
By Lucy Heming;Â lucyheming@alliancenews.com
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Adriatic Metal. (ADT1)