The economic contributions generated by our projects will not only have a positive direct economic effect, but will also create and aid in the accumulation of resources for the subsequent development of other industries due to the multiplier effects of mining.

We will work with governments and local municipalities to ensure funds are reinvested into the local community as far as possible, thereby maximising the benefits of taxes and royalties paid at a local level.  Where necessary we will support local municipalities to develop plans for the sustainable use of these funds in developing infrastructure and services, including community led priorities.

In particular, unemployment levels surrounding Ilovica and Shtuka are well above the Macedonian national averages.  As our projects near the construction and operation phases, we will create many jobs through direct and indirect opportunities, and contribute toward sustainable long term economic stability in each region.  The vast majority of these employment opportunities will be extended to people from the local communities surrounding our operations.  We will also source goods and services from local businesses who have the capacity to support our operations, and work to ensure they can continue to do so as activities increase.  Contractors and subcontractors will also be required to source staff, goods and services locally as far as possible.

Euromax's direct economic contributions will include:

  • Employee wages and benefits
  • Taxes and royalties paid to governments and distributed to municipalities
  • Purchases of goods and services from local and regional suppliers
  • Use of local consultants and contractors
  • Community initiatives and non-mining infrastructure development
Ilovica and Shtuka Livelihoods

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