Interview with Ivica Karapetrov, Deputy Manager of Bucim and Borov Dol Copper Mines, Radovish
Ahead of this year’s The Economist MeetUp – The World in 2025, and the participation of Bucim and Borov Dol at this significant business conference, we speak with Ivica Karapetrov, Deputy Manager of the Bucim and Borov Dol mines, who shares insights into how these mines are shaping the mining sector in Macedonia. With extensive experience and a commitment to sustainability and innovation, the company is a driving force in the economic development of the region.
We discuss the challenges and achievements of 2024, key projects and initiatives, as well as the vision for the future of mining in Macedonia. Karapetrov highlights the projects that are shaping the company’s future direction and unveils plans for sustainable mining that meet global standards and expectations.
1. How would you describe 2024 in terms of the achievements and challenges the company faced?
The year 2024 was a period of significant changes and development for Bucim Mine. We managed to maintain the stability of our production processes while focusing on sustainability and alignment with the latest international standards. Despite challenges such as the volatility of metal prices on global markets, increased operational costs, and the need to replace outdated equipment and traditional practices, our strategy of process optimization and sustainable resource management allowed us not only to sustain positive economic impact but also to initiate modernization projects. This year marked an important step towards aligning with global trends and laying a solid foundation for the company’s future growth.
2. Which project or initiative would you highlight as the most significant for 2024, and what is its importance for the company’s future development?
2024 was marked by several key projects critical to the future development of Bucim Mine. One of the most significant was the initiation of work on a new processing unit for ore treatment – the flotation plant. This capital investment, worth over €10 million, represents a major step toward modernizing our production processes. The new flotation facility, which employs cutting-edge technologies, will enable optimized ore utilization and compliance with the highest standards of sustainable development. We expect the plant’s construction and trial operations to commence next year, marking a pivotal moment for the company’s growth.
In 2024, we also began excavating a new ore body in the Northeast section of Bucim, which is planned for completion by 2025. This will revitalize mining operations for mineral extraction at Bucim, which were halted in 2021.
Additionally, we initiated geological explorations for new ore reserves within Bucim Mine. If these studies confirm viable findings, they could extend Bucim Mine’s lifespan.
Simultaneously, we are working on several projects aimed at improving environmental management and advancing production processes. These initiatives include controlling and reducing dust emissions, optimizing tailings management through the construction of efficient slurry pipelines, and acquiring sophisticated filter presses to enhance the quality of the final product – copper concentrate. Such solutions reduce the company’s environmental footprint while achieving higher efficiency and compliance with ESG (Environmental, Social, and Governance) principles.
These projects not only demonstrate our commitment to innovation and sustainable practices but also reaffirm our strategic vision: to transform Bucim into a model of modern, responsible mining capable of meeting global standards and future challenges.
3. What trends and challenges do you believe will have the greatest impact on the mining industry in 2025?
The year 2025 will be transformative for the mining industry, with dominant trends focusing on technological innovation and heightened environmental responsibility. The modern mining sector faces significant challenges requiring substantial changes and the integration of innovative approaches. This includes adopting best practices that maximize the utilization of valuable ore components, safe disposal and management of processing waste, and enhanced environmental sustainability. Furthermore, responsible management of depleted sites through complete reclamation is becoming a core principle of the industry.
We anticipate considerable advancements in the application of digital technologies to optimize and manage production processes, as well as an increased integration of renewable energy sources, which will play a vital role in reducing the carbon footprint. Companies must also implement ESG standards for sustainable investment, which is now imperative in modern global mining.
For Bucim and Borov Dol, aligning with these standards, encompassing responsible environmental, social, and corporate governance, is not just an obligation but a strategic opportunity for contemporary development and progress.
On the other hand, the industry will face serious challenges, including geopolitical instability, especially in Europe, leading to fluctuations in global metal markets, as well as stricter environmental and regulatory standards. These challenges will require significant investments in research, advanced technologies, and continuous development of human capital. Our approach remains proactive, aiming not only to overcome these challenges but also to create value that meets the needs of current generations while preserving opportunities for future generations.
4. What are the key strategic priorities for Bucim and Borov Dol in 2025?
In 2025, our strategic vision will focus on substantial change and modernization. The implementation of best available techniques and practices will enable us to improve production processes, reduce our environmental footprint, and align all aspects of our operations with the highest international sustainability standards.
A primary focus will be the construction and commissioning of the new ore processing plant, which will enhance production efficiency, automate processes, and align with the highest industrial standards. Simultaneously, significant funds will be invested in detailed geological explorations at Bucim and Borov Dol to identify new ore reserves within the concessions. Additionally, investments will be made to replace Bucim’s equipment with new, technologically advanced machinery.
In production process management, we plan to launch a monitoring center where all phases of production can be observed and managed from a single point.
Recognizing the key role of human capital, we will continue organizing training, scholarships, and programs to enhance the skills of our employees, strengthening the company’s competitiveness and capacity for innovation. Furthermore, we remain committed to supporting the local community through infrastructure and educational initiatives that will contribute to the region’s long-term socioeconomic development.
A special focus will be on developing a study for the disposal and management of processing waste, in collaboration with Goce Delchev University and renowned international partners. This project will extend the life of Bucim’s flotation plant while reducing the environmental impact associated with tailings. The project represents an innovative and sustainable approach, replacing outdated tailings disposal methods with advanced, environmentally friendly solutions.
With a clear vision for the future, our goal is to position Bucim and Borov Dol as examples of modern and responsible mining that transcends traditional methods and sets new industry standards. Through the application of innovations and responsible resource management, we believe we can transform the mining sector into a sustainable and progressive model that addresses the challenges of the modern era.