Page 91 - bne IntelliNews SE Outlook Regions 2024

At the end of 2023, Canada-based Rock Tech Lithium and Swiss Arcore signed a strategic partnership agreement to join forces to secure a long-term supply of lithium products for Rock Tech's European converter operations from the Lopare mining project in Bosnia. The Lopare project is owned by Arcore and will feed Rock Tech's conversion facility.
Another key company – UK-based Adriatic Metals – should start silver concentrate production in Bosnia. The company said 88% of construction of the total Vares silver project in Bosnia is complete and 94% of capital awarded, pending award or recently quoted.
The Vares high-grade silver project in Bosnia, 100%-owned by Adriatic Metals, is the company’s flagship project. It is also focused on exploration at the Raska base and precious metals project in Serbia.
Meanwhile, the Center for Advanced Studies of Bosnia unveiled drone prototypes, including the CNT1045-8 and CNT2200-2 models. The mass production of the drones could start in 2024 and secure the country significant revenue.
In 2024, Bosnia will benefit from an agreement with Albania, North Macedonia and Serbia on the establishment of the Balkan Alliance for E-Commerce (BECA). This initiative aims to advocate for the facilitation and promotion of regional e-commerce, addressing challenges and fostering growth in the burgeoning digital economy.
5.3 Real economy - Bulgaria
5.3.1 Retail
Bulgaria’s retail trade, which saw a strong recovery in the first half of 2022, was hit by surging inflation in the second half, which continued throughout 2023.
Bulgaria’s seasonally adjusted retail sales increased by 1% month on month in October, after rising by 0.7% m/m in September, statistics institute data showed. Year on year, retail sales increased by 3.1%, after staying flat in September.
Retail sales of food, beverages and tobacco grew by 6.8% y/y in October, after rising by 4.4% y/y in September. Sales of non-food products (except fuel) contracted by 0.2% y/y, after decreasing by 3.3% y/y in September. Automotive fuel sales increased by 8.5% y/y in October, after rising by 3.2% y/y in the previous month.
According to the business climate indicator, retail trade remained almost unchanged m/m at 27.5% in November amid optimistic assessment of the current situation and expectations for the next months.
91 SE Outlook 2024 www.intellinews.com