Multifactor model for investments in the raw material sector, case study Bosnia and Herzegovina

project details

Co-location Centre: EIT RawMaterials CLC East Sp. z o.o. (CLCE) (Co-location Centre for Eastern Europe)

Duration of the project: 2018. – 2020.

Project leader: University of Zagreb, Faculty of Mining, Geology and Petroleum Engineering (UNIZG-RGNF)

Project partners:

Former project partners:

  • Institute for urbanism, civil engineering and ecology of Republic of Srpska (IUGERS), Bosnia and Herzegovina

Since mid-2019, IUGERS is no longer our project partner as the institute declared bankruptcy. Until withdrawal from the consortium, IUGERS project members have actively participated in all project activities including preparation of InvestRM tool and FIPA brochure.


InvestRM project aims to create a decision-making tool for raw materials companies and investors, mining institutes, technical universities, geological surveys, non-governmental association, B&H government and state institutions in order to facilitate investment in the raw material sector. Project is focused on Bosnia and Hercegovina due to its critical raw materials potential. The project will deliver structured country data (entity based) together with relevant and validated geoinformation on 120 critical raw materials deposits and occurrences within B&H: antimony, bauxite (as potential source of rare earth elements – REE), fluorite and magnesite. Developed tool will contain relevant, updated and RM-tailored country data (legal, social, economic), together with verified critical raw materials database.

Project objectives and scope

  • Delivering an on-line accessible decision-making tool, containing:
    • structured, RM-tailored, multi-tested and updated country data (entity based) composed of legal, social and economic data package;
    • validated information on approximately 120 critical raw materials deposits and occurrences within B&H (antimony, bauxite, fluorite, magnesite), compatible for implementation into Mineral Intelligence Network;
    • full report on the selected location for potential investor, including details on licensing procedure and estimated investment of the starting phase. 
  • Tailoring the information of the InvestRM tool via open dialogue with B&H companies at Banja Luka, Prijedor, Tuzla and Zenica info-days (second and third year of the project).
  • Establishing a self-sustainable supervision of the InvestRM tool for the period of five years after the project finishes, by creating protocols for periodical maintenance and upgrade of the InvestRM model, including the governing role of a Steering committee.
  • Disseminate InvestRM tool for the benefit of RM stakeholders throughout four national info-days; national and regional B&H and East South-eastern Europe agencies.
  • Creating a new cross-disciplinary collaborative network between industries, research institutes, national and regional agencies and university partners from Bosnia and Hercegovina, Croatia and EIT Raw materials consortium, contributing to building and de-siloing of the overall B&H KIC community.

Beneficiaries of the project

  • B&H raw materials companies
    • Utilization of the InvestRM tool toward local SMEs and larger industrial partners will be done by B&H partner institutions as main organizers of the country info days in the second and third year of the project (Banja Luka, Prijedor, Tuzla and Zenica). Additionally, relevant regional state agencies will be also integrated in the project throughout info-days and briefings, serving as the important dissemination direction for the InvestRM tool within B&H.
  • ESEE, Europe and worldwide raw materials companies 
    • Utilization of the InvestRM tool will be carried out throughout internal institutional networks of EIT Raw materials partnership; FIPA – Foreign Investment Promotion Agency of Bosnia and Herzegovina – throughout InvestRM FIPA brochure for B&H RM sector; and toward ESEE region RM stakeholders.
  • Sector specific institutions
    • Mining institutes, technical universities, geological surveys and non-governmental associations shall establish a suitable linking with industry partners in order to understand and support their needs throughout focused research that will deliver new business opportunities. The project contributes to bridging a gap between business, research and education.
  • B&H government, state institutions, and finally the inhabitants
    • As a stable business sector will financially contribute to the state budget, country development, stable jobs for citizens, as well as available social and educational services. 

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