Southeastern European nation Montenegro's energy ministry said it had opened a tender to award a concession for the exploration and exploitation of red bauxite in the western municipality of Niksic.
The ministry said in a tender invitation on April 22 that the concession area covers some 6.443 million square metres near the village of Kuta within the Vojnik-Maganik ore region.
If the percentage of iron oxide in a bauxite sample is higher, it is called red bauxite.
The concession period will be determined based on the estimated reserves of red bauxite, annual exploitation capacities, and market demand, with a maximum duration of 30 years, as stated in the document. Prospective bidders are required to provide a bank guarantee of 20,000 euros ($21,300). The deadline for bid submissions is May 23rd, 2024 red bauxite. Red bauxite holds significant importance as a metallic raw material in Montenegro, alongside coal, playing a crucial role in the country's balanced development, presently and in the foreseeable future, according to the ministry's statement.
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