Montenegro possesses significant potential in mineral resources; however, any progress hinges on careful planning, collaborative partnerships, and the conservation of natural resources. This was the outcome of a roundtable discussion focused on strategies to enhance the financing of the mining sector.

Marko Vučinić, Acting Director General of the Directorate for Geology and Mining, shared insights during the event organized by the US Bureau of Energy Resources (ENR) and the Ministry of Energy and Mining. He highlighted Montenegro’s deposits of red and white bauxite, lead, zinc, and rare minerals found in technogenic deposits, stressing that further geological exploration is vital for their development.

Dino Tutundžić, State Secretary at the Ministry of Energy and Mining, remarked that cooperation with the USA and Deloitte is crucial for fostering a better investment atmosphere.

“Mining development must prioritize sustainability and align with environmental standards. Such forums allow us to openly address the challenges faced in this sector,” Tutundžić noted at the gathering supported by the US Embassy and the Chamber of Commerce (PKCG) on Friday.

The purpose of the meeting was to address obstacles in the initial phases of mining project development and outline methods to ease financing, mitigate risks, and promote sustainable mining in Montenegro.

Deloitte representatives, Cole Johnson and Glenn Brown, underscored the significance of collaboration with Montenegro regarding strategic minerals, in addition to the necessity of conforming to EU standards and gaining access to capital markets.

Veselin Vukčević, Head of Concessions, posited that mining should emerge as a key development sector for Montenegro. Ranko Vukmirović from the Chamber of Commerce and Industry of Montenegro emphasized the need to balance economic benefits with environmental protection.

Participants from the Geological Survey of Serbia, UNIPROM, the Ministry of Ecology, mining inspections, and concessionaires engaged in discussions regarding research, potential opportunities, and legislative frameworks.

Mining Inspector Draško Marković particularly highlighted the importance of research, notably the potential of rare minerals found in abandoned mines.

This roundtable was part of the Energy and Mineral Governance Program (EMGP), which, with support from Deloitte, offers expert assistance to nations worldwide in enhancing the transparency and competitiveness of the critical minerals sector.

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