News

Cukaru Peki copper mine near Bor to open by 2021

Tuesday, 05. Nov 2019.

The Chinese company Zijin is accelerating its activities toward the opening of the Cukaru Peki copper mine near Bor and the exploitation is expected to begin in a year or two, the state secretary at the Ministry of Mining and Energy, Stevica Dedjanski, said today.

– We expect Zijin as a strategic partner of RTB Bor to increase the level of investments in the exploitation of minerals. The company is active in 11 countries in the world and is one of the most dynamic Chinese companies – Dedjanski said at the opening of the ninth International Conference on Mineral Resources in Serbia, held under the slogan “The Driving Force of Economic Development”.

He said that Zijin would invest USD 1.26 billion over the next six years.

– Zijin has bought the Canadian company Nevsun, which began developing the Cukaru Peki project. They are dramatically accelerating their activities toward the opening of the mine and we can expect the exploitation to begin in a year or two – he said.

He also says that RTB Bor produced 42,000 tons of cathode copper from its own concentrate last year and that 47,000 tons is expected this year.

– Upon the completion of this investment cycle and the opening of the Cukaru Peki mine, the production is expected to reach the volume of 200,000 to 250,000, maybe even 300,000 tons.


Source: eKapija

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