North Macedonia seeks to expand role in critical minerals race

North Macedonia currently maintains a limited presence in the global race for critical minerals. Of the four metal ore mines operating in the country, only the Bučim-Borov Dol mine is currently exploiting a strategic mineral, copper.

Regarding new investments, the Ilovica-Štuka project is the sole active development for a new critical mineral mine. The investor has announced an initial investment exceeding 340 million euros within the first two years, with projected annual revenues of at least 180 million euros. This project could position the company among the nation's largest exporters.

Additionally, the country has only one active geological exploration for a critical mineral, which focuses on antimony near Kriva Palanka. Sonja Lepitkova, president of the Macedonian Geological Society, warned that failure to capitalize on these mineral resources could lead to economic stagnation, noting that neighboring Greece and Bulgaria are actively utilizing European funds to invest in mining and processing capacities.