Canadian DPM completes takeover of precious metals mines in BiH

DPM had earlier purchased the UK-registered company Adriatic Metals, which held the concession to operate the Vares mines. The exact value of the transaction, which created the new company DPM Metals Inc., has not been disclosed, but media reports suggested DPM paid between US$1 billion and 1.25 billion for Adriatic Metals.

At the time, DPM CEO David Rae explained that incorporating the Vares mines opened the way to establishing a leading mining company with strong growth potential, high-quality development and exploration projects. He said the transaction was expected to quickly boost overall production of precious metals from Vareš and extend the operational life of the mines.

The takeover of Adriatic Metals is now fully complete, with DPM assuming ownership of operations in Vares, marking one of the largest mining transactions in the Balkans.

DPM is a Canadian mining company specialising in precious metals, with operations and development projects in Bulgaria, Serbia and Ecuador, and over twenty years of experience in the Balkans. The company highlights that 99% of its workforce is local, directly supporting the growth of the regional economy.

Adriatic Metals began ore extraction in Vares at the start of 2024, and the export of silver- and zinc-bearing concentrate began in May 2024.