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In the Spotlight Investment potential of Montenegro With its unique natural resources and geographical position, Montenegro is an attractive area, and is suitable for the development of numerous types of industrial activities. The major sectors that could be developed, and that have available natural resources, are currently characterized by alow level of achievement in comparison to their overall potential. The following sectors have much potential that is presently not being exploited: mineral resources, agriculture and forestry, tourism and energy.

Exploitation of mineral resources

Montenegro is rich in reserves of raw minerals. Previous research has shown that there are 28 types of minerals present in Montenegro but that only 15 of them are being exploited. - The most significant mineral resources are: • •

Coal and mikrolignit - mikrolignit was found throughout the length of the river Ćehotina with reserves of 232.54 million tons. Coal, brown coal - coal reservs were discovered in the valley of the river Lim and in the beds of Berane and Polić Lakes. In the Lim river valley, the reserves of brown coal amount to 30 million tons, with a potential total amount of up to 100 million tons. Oil and gas – regarding oil and gas, research was carried out for both the land and coastal areas of Montenegro. Previous research pointed out the potential of the land, particularly in coastal areas where it is estimated that there are about 12.5 billion tons of coal. Red bauxite – deposits of red bauxite have been foundat over 90 sites in Montenegro. The largest and richest sites are in Visoki Krš and in the Adriatic-Ionian area. Research has identified reserves of red bauxite that have a total capacity of 96,244,000 tons. Lead and zinc - deposits of lead and zinc are located in the north and north-east of Montenegro. Previous studies have shown that the capacity of lead and zinc reserves are somewhere in the region of 46.83 million tons.

- Architectural and building stone (decorative stone)– significant reserves of architectural and building stone have been foundin 20 locations, and lesser amounts are known to be present at an additional 25 sites. These sites include the following: Zeta valley has reserves of 1.5 million m3; the area surrounding the municipality Kolašin has over 2 million m3; Andrijevica has over 2 million m3; part of the municipality of Nikšić (Lipovo) has about 2 million m3; the coastal area of Boka (Gornja Lastva has reserves of 714,000 m3); Kamenjari and Đurići together have over 6 million m3; Luštica has reserves of around 400,000 m3); in the municipality of Bar, Crmnica has reserves of around 460,000 m3; and in the Ulcinj area there are reserves of rigid totalling around 1,000,000 m3. The total reserves of ornamental stone in Montenegro amount to approximately 15 million m3, with an estimated capacity of 50,000,000 m3.

Agriculture and forestry

Building stone - there are limitless quantities of building stone in Montenegro, and such stone can be found in most municipalities.

- Today, Montenegro operates 17 quarries, of which 12 are located in coastal regions: Volujica Goran, Velji Zabio, Možura, Orlovo, Borik II, Darza, Ristova Ponta, Haj-Nehaj, Velja Spilja, Oblatno, Platac, Lješevići, Gajevi, Podi. In the central region there are the following quarries: Midova Kosa and Budoš. Finally, in the northern region there are the following quarries: Kaluđerski Laz, Bušnje and Štitarica. Total reserves are estimated at around 38 million tons. • Gravel and sand - gravel and sand are excavated from a number of sites in the municipalities of Žabljak, Plužine, Šavnik, Nikšić, as well as in Grahovo, Dragaljsko, from the Zeta and Bjelopavlići plains and the river beds of the Morača, Tara, Lim and Ćehotina rivers. • Brick clay– the largest resorces of clay are located in the Ćehotina riverbed, in them unicipality of Pljevlja (dozens millions of tons) and in the river Lim, namely at Jasikovac (1.3 million tons). Also, there are additional deposits in the municipalities of Kolašin, Bijelo Polje, Spuž, Tivat and Ulcinj. The overall deposits of brick clay are around 15 million tons. • Cement marl - cement marl is located in the Ćehotina river bed, around Pljevlja (deposits of around 93 million tons), the Lim river bed, in Bjelopavlići (about 30 million tons) and in the Crmnica and Ulcinj areas (about 20 million tons). • Sea salt - (60% chlorine and 40% natrium) is extracted from sea water only at the Solana Bajo Sekulić in the municipality of Ulcinj. • Underground water (fresh, mineral and thermal waters) – fresh subterranean water is only bottled from two sources (Gornja Bukovica and Gornja Plašnica). However, activities aimed at using this water have been planned in eight other locations. There is only one known source of thermal water in Montenegro and that is in the river canyon, Komarnica. • Mineral waters sources exist in the Lim and Ibar rivers as well as on the Montenegrin coast. Only mineral water from Bijelo Polje (Čeoče) is currently bottled.

Agriculture – As a part of a national Strategy of sustainable development in Montenegro, a special emphasis has been put on agriculture and tourism. 12


April 2011

- If we look at the way production is orientated, on a region by region basis in Montenegro, we can highlight the following facts: •

Coastal region – agricultural activities and the production of citrus fruits, vegetables, olives, herbs, and planting seeds of subtropical crops are dominant in the coastal region. There are about 11,900 ha of land available for intensive agriculture, of which 8,900 ha are in the areas of Vladimir and Ulcinj. There are also around 3,000 ha in parts of Grbaljsko, Mrčevo and Tivat.

The central region– production is a dominant activity in this region, especially the production of continental fruits and vegetables, nursery materials, flowers, greenhouse produce and the collection of medicinal herbs and wild fruits. About 40,500 ha of land are available for intensive production. This includes the Zeta-Bjelopavlići valley, about 33,000 ha, and Župa and Grahovo, about 7,500 ha in the Nikšić municipality.

The production of milk, meat, potatoes, wool, fish farming and the gathering of berries are dominant in the northern region.

There are about 47,000 ha of high quality land available for the purposes of intensive agricultural production. Regarding other agricultural production (healthy food and organic production), land is available in the upper area of the Tara river, in Polimlje, in Plav – Gusinje and in the Ibar and Ćehotina valleys. Forests and forest land - cover an area of about 738,000 ha, or about 53.4% of the total area of Montenegro. Forest vegetation accounts for 622,000 ha, including up to 45% of non-forested area. The total volume of wood in all of Montenegro’s forests is 72.8 million m3, of which conifers cover 40% and broad leaves cover 60% of the area. About 67% of all forests and forest lands are state - owned. Their basic purpose is commercial usage (79%). The annual allowable cut in all forests, based on current planning documents, is approximately 800,000 m3. The current capacity of commercial forests is approximately 65%. The structure of forests in the northern area is very favorable (high forest in this region accounts for 65%). These are the best and the most productive forest eco system sand are also the important source of raw materials. The northern (continental) forests area cover the territories of the municipalities of Plav, Andrijevica, Berane, Rožaje, Bijelo Polje, Mojkovac, Kolašin, Nikšić, Šavnik, Plužine, Pljevlja and Žabljak.

Tourism

Investment potential in the coastal region is primarily based on the repurposing of existing military complexes, the development of accommodation for future tourists, and the development of health and nautical tourism. - In order to create new tourist areas in the future, the repurposing of industrial and military bases is essential. These locations include: Kumbor, Remontni Zavod, a complex in the municipality of Tivat,Luštica,Pristan, Rt Trašte next to Bigovo, Ostrvo Cvijeća, Platamune, Maljevik-Crni Rt, Luka Bar, Volujica, Valdanos, Karaula on the Bojana river , Mamula, lower and upper Arzu, Ada Bojana, UlcinjSolana, the export-plants at Risan, the workshop and warehouse in Zelenika etc. Bearing in mind the development of tourist accommodation, a focus should be put on the following places: Herceg Novi, Tivat, Kotor, Budva, Bar and Ulcinj. Nautical tourism – it is planned that the following marine locations will be developed for nautical tourism, with a specific emphasis on their future purpose: equipping the existing marinas based in Kotor, Tivat, Bar and Budva; improving marinas for repairs in Bar and Tivat; creating standard marinas in Rt Kobila, Liman in the municipality of Ulcinj, Bigovo, Kumbor, Bonici and in the port of Zelenika, and creating specialized marines in Ada Bojana, Buljarica, Crnojevića river and Virpazar.

- The central and northern region relates primarily to the development of mountain tourism. The development of mountain tourism and tourist areas is different in differentareas of this region: In the Durmitor and Sinjajevina mountain are as there is the potential to improve ski tourism. In the Bjelasica and Komovi mountain areas, development could be improved by introducing various “wellness” programs, ski tourism, walking and hiking, etc. In Prokletije, there is the potential to improve existing ski tourism. The mountains in the area of the Morača river will become more attractive in the future as a result of a new highway, improvements in the infrastructure and the realisation of hydropower potential from the Morača river. The Tara and Ćehotina river areas both have potential for skiing and summer mountain tourism. In the coastal mountain are as there is potential for upgrading spa tourism by including walking, hiking, mountain biking, and skiing.

Energy resources

The energy sector is recognized as one of the driving forces of the Montenegrin economy. - The Montenegrin Energy Development Strategy to 2025 defines the best solutions for building hydropower plants at the following locations:

Morača river (Andrijevo, Raslovići, Milunovići and Zlatica) and Komarnica. Additional research is still required in the Piva river area and for the area around Bilećko lake. Suitable sites for small hydropower plants, with a capacity of up to 10MW, have been more clearly defined in documentation which is in accordance with the guide lines of the Spatial Plan of Montenegro. The activities that are planned for these plants are described in the Energy Development Strategy for the Development of Mini Hydropower Plants. According to estimates, Montenegro uses only 17% of its existing potential, which means that there is a considerable room for improvement in this sector.

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