COVER STORY
Fall 2018 / Issue 59
Safe and Responsible
Growth in Partnership
with the Local Community
T
he geology of the
eastern side of
Macedonia is part
of the Tethyan
belt, a globally
recognised zone of prospec-
tivity and even within this the
geology that has formed the
Ilovica-Shtuka copper-gold
deposit is very rare and has
not been proven elsewhere in
Patrick Forward, Chief Operating the country.
Officer, Euromax Resources
The fertile valley and the
natural mineral deposit of
Ilovica Shtuka are important natural resources that with safe
and responsible development can help the area develop
and become an example to all for dynamic growth from
mankind’s two oldest industries – farming and mining.
Euromax Resources is a minerals development company,
publicaly listed in Canada on the Toronto Stock Exchange.
Since May 2012, with the appointment of the new manage-
ment team, Euromax has directed its corporate strategy
on the development of the Ilovica-Shtuka copper project
located in the municipalities of Bosilovo and Novo Selo in
southeastern Macedonia.
Supported by worldwide proven investors such as Euro-
pean Bank for Reconstruction and Development (EBRD)
and Trafigura, Euromax Resources has developed a proj-
ect that meets the highest environmental standards, deter-
mined to prove that modern methods of mining can coexist
with agriculture.
The experience shows that mining has enhanced the
local economy and peoples’ lives. Like other businesses,
well designed and run mines are not dangerous or polluting
nor do they threaten other businesses.
14
AmCham Macedonia Magazine
There are many ways to control whether a mine is well
built and operated:
Understand the local environment and conditions
Use the best local and International expertise to carry
out the designs
Apply sound design and operation criteria with respect
to the environment
Monitor all aspects of the operation
Continually communicate with other stakeholders
Allow independent monitoring of the construction and
operation
Attract responsible investors who will independently
verify design, construction and operation and inde-
pendently check compliance with recognised interna-
tional regulations
Comply with all national regulations and laws
Using best available technology which ensures there
is no negative impact on health and environment whilst
improving overall living standards.
Mining is a strong economic driver, it has a strong devel-
opment component for the countries where it is located, and
is followed by a major modernization in the mining process.
Ilovica-Shtuka Project conforms
with International Best Practice
industry standards and modern
technologies used in Europe, the
US and Canada