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Zombie Mines Are Coming Back to Life on Soaring Metals Prices

  • Producers study reopening uranium, nickel, platinum projects
  • Plan to revive silver mine after 30-year post-civil war hiatus
The Veovaca mine in Bosnia and Herzegovina in Sept. 2020.
The Veovaca mine in Bosnia and Herzegovina in Sept. 2020.Source: Adriatic Metals Plc

A silver mine in Bosnia and Herzegovina that sat derelict through the years of civil strife that gripped the region from the early 1990s may soon be taken out of mothballs to benefit from an optimistic price outlook.

Adriatic Metals Plc’s Vares project could resume production by the end of 2022 following a hiatus of more than three decades, according to Chief Executive Officer Paul Cronin. It’s part of a nascent trend toward restarting so-called “zombie” mines -- operations which have been shuttered for reasons varying from weak prices to owner bankruptcy or political unrest.