Indo Minerals and Metals, which began operating in Macedonia in 2006, illustrates the country’s potential for FDI. The thriving mining operation, one of the biggest foreign investments in Macedonia to date, has long-term concessions to operate two mines, at Zletovo and Toranica; the Zletovo mine, launched in 1928, is the oldest mining operation in the Balkans. With a significant market share in Macedonia, Indo Minerals and Metals aim to expand significantly.
Mark Bryant from the London head office points out that Indo Minerals and Metals are playing a key role in Macedonia’s economic development. He says, “The mining sector is one of the most important economic advantages that Macedonia has and we are proud to be a part of its ongoing growth and success. All of the country’s mines went through some real challenges in the 1980s. Now, through private investment, some incredibly hard work by our operating team and a proactive and investor friendly government, Indo Minerals and Metals have helped turn that around.”
Plan to double production
Indo Minerals and Metals produce lead and zinc concentrates for export. The company aims to double its production over the long term through increased infrastructure investment, improved mining methods, and new equipment. Indo Minerals and Metals have invested over €10 million in the last three years in heavy mining equipment as well as in development and
infrastructure to help maximise production. The company is also investing in underground development, research and exploration for new sources of ore in the mines and surrounding regions.
Indo Minerals and Metals are strongly committed to environmental protection and social responsibility. Mark Bryant says, “In addition to providing employment directly, we try to source goods and services from local companies as much as possible to ensure the maximum benefit for the local economy. We have also made significant strides in improving the health and safety records at both Zletovo and Toranica in the last few years and while the two mines have one of the best safety records in the region, we still aim to improve further in this area.” He adds that Indo Minerals and Metals have a very positive working partnership with local municipalities as well as with Macedonia’s government.
K.L. Moza, General Manager of Indo Minerals and Metals, concludes, “Macedonia is an investor friendly country which I would recommend to all potential investors. Take advantage of the huge benefits and support that the government offers to foreign companies here.”
Jakim Stojkovski 2
Probishtip
Tel: +389 3 248 0228
