Government and Australian company “Balamara“ to cooperate in geological exploration and mineral exploitation

Podgorica, Montenegro (28 September 2012) – Australia strongly supports the cooperation between the Government of Montenegro and the Australian company “Balamara“ in creating conditions to start geological exploration and mineral exploitation in the territory of the former mine “Brskovo”, Australian Ambassador Helena Studdert said at the meeting with Deputy Prime Minister Duško Marković earler today.

She noted that this reputable Australian investor has great expertise in geology, and is ready to educate Montenegro's engineers and technicians. In that regard, she said that the contacts with the Employment Agency of Montenegro and the local government of Mojkovac municipality have already been established.

The two officials agreed that the start of production at the mine “Brskovo”, as well as discovering under-exploited ore deposits, is the turning point when it comes to mining in Montenegro. It will certainly strengthen and develop Montenegro's economy and, most importantly, bring direct benefits to the population of the northern part of the country.