Project Overview
The Vareš Silver Mine (“Vareš”) is one of the largest investments in Bosnia and Herzegovina, bringing significant economic and social benefits to the country. The project consists of 41 km2 of concession area, centered around the town of Vareš and is wholly owned and operated by DPM Metals.
DPM Metals acquired the project in 2025 through its acquisition of Adriatic Metals ("Adriatic"). Adriatic acquired the project in 2017 through its acquisition of Tethyan Resources and immediately began the initial exploration of the Vareš property. By 2018 the exploration program was expanded, and in 2019 Adriatic published a Maiden Mineral Resource Estimate. During 2020 and 2021, Adriatic released technical studies which supported the construction of the mine, followed by debt and equity raises to commence construction.