Chinese Zijin to invest USD 800 million in Serbia – Expansion of Zijin Bor Copper and development of

Monday, 13. Jan 2020.

The Chinese company Zijin Mining will invest USD 800 million this into expanding production capacities in Zijin Bor Copper complex and will also develop the new Cukaru Peki copper and gold mine.

As Vecernje Novosti daily reports, this year, Zijin will start expanding the Veliki Krivelj and Majdanpek open pit mines and will start investing into opening of the new copper and gold mine Cerovo 2.

Additionally, the company will start preparations for activating the Borska reka bed within the Jama underground mine whose entry point is situated at 450 meters below the surface.

The company also plans to reconstruct and expand the capacity of the copper smelting unit from the current 80,000 to 200,000 tons of copper per year, construct another sulfuric acid factory, procure new electrolysis apparatus...

The report says that the works on opening the upper zone of the Cukaru Peki site, confirmed to hold around million tons of copper and close to 70 tons of gold reserves , would prove the biggest challenge for the Chinese . The mine would be fully operational around the middle of 2021.

Aside from that, Bor Copper strategic partner has bought the rights to the lower zone of Cukaru Peki from the American company Freeport-McMoRan for nearly USD 400 million which contains reserves of around 5 million tons of copper and close to 150 million tons of gold – almost the same as the amount of metals mined in the last 150 years in Bor.

Zijin has started the project design for the exploitation of the underground mining site Borska reka in cooperation with the Mining and Metallurgy Institute in Bor.

It is estimated that the site contains reserves of around four million tons of copper , 130 tons of god and over 1000 tons of silver whose gross value is, according to the current prices, more than USD 30 billion.ukaru Peki gold mine planned

Source: eKapija

15. Jul 2020.
City Offers Part of Beogradjanka for EUR 20 Million

14. Jul 2020.
Japanese Toyo Tires to Start Building Factory in Indjija in August

14. Jul 2020.
Galenika Planning Squeeze-out – Price per Share EUR 28.14

14. Jul 2020.
Another Seven Strategic Companies Waiting to be Sold

13. Jul 2020.
Vranjska Banja Special Hospital Complex up for Sale – Initial Price EUR 870,304

08. Jul 2020.
Metalka-Majur from Jagodina up for Sale

06. Jul 2020.
Payment of Third Minimum Wage as Aid to the Economy Begins Tomorrow

06. Jul 2020.
EBRD and UniCredit Leasing Support Serbian SMEs Transition to Green Economy

03. Jul 2020.
VUCIC: No new set of measures of support to private sector

02. Jul 2020.
Expert Conference SEE Energy – Connect [amp] Supply II 2020 to be Held in October

02. Jul 2020.
Vucic and IMF Representatives: Government of Serbias Estimate of GDP Growth Optimistic

30. Jun 2020.
External Trade of Serbia Between January and May Lower by 8.1%

30. Jun 2020.
Continental Automotive Serbia Planning Construction of New Factory in Novi Sad – Jobs for Engineers

28. Jun 2020.
First phase of integrated protection at Pancevo Oil Refinery completed

26. Jun 2020.
Belgrade airport suffers first-quarter loss of RSD 105 million

25. Jun 2020.
Telekom Srbija Delivers Non-binding Offer for Purchase of Ipko from Pristina

25. Jun 2020.
Czech company Spel Manufacturing to build a plant in Bela Crkva – New facility in two years

24. Jun 2020.
Seavus Announces Business Partnership with Salesforce

23. Jun 2020.
Russias Aeroflot renews flights to Belgrade

19. Jun 2020.
Is EPS planning to buy Elektroprivreda RS? – “We will certainly expand in the region,” Vucic announc

18. Jun 2020.
Alitalia Postpones Resumption of Flights to Belgrade – New Date August 1

18. Jun 2020.
Norwegian Decides to Resume Flights After All – Serbia Included in Plans from July

17. Jun 2020.
MK Group Becomes Majority Owner of Victoria Group With a 67% Stake

16. Jun 2020.
Vorwerk Commences Production in Cacak – Car Parts for Famous World Brands

16. Jun 2020.
Wizz Air to Base its Third Aircraft in Belgrade and Open Ten New Lines

14. Jun 2020.
NBS: Standard and Poors confirms Serbias stable outlook

12. Jun 2020.
New law allows trade with grains at the market exclusively

12. Jun 2020.
Zijin Planning to Triple Production of Copper in Bor and Increase Foundry Capacity

11. Jun 2020.
Mobilturi Est Cucine building new production hall of 4,170 m2 in Jagodina

11. Jun 2020.
New law allows trade with grains at the market exclusively – Agriculturists equal participants in tr