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Belgrade
22/05/2024
Mining News

Exploring Serbia’s Mount Rogozna: Unveiling potential gold and mineral deposits

To date, significant drilling efforts on Mount Rogozna, where this deposit is located, have revealed substantial quantities of gold, copper, lead and zinc. “We’ve discovered calcium carbonate in Serbia. It’s like a blessing. Just a few days ago, I received news of an entirely new gold deposit found in one of Serbia’s most impoverished regions. If I had chosen a different municipality, I might never have found it. It’s in southeastern Serbia,” stated Aleksandar Vučić, the President of Serbia, over a year ago, sparking widespread curiosity about its exact location. However, speculation persists regarding its precise whereabouts. Since the beginning of the month, when initial information about a project on Mount Rogozna in Novi Pazar emerged, revealing significant gold, copper, lead, and zinc deposits in certain areas, many believe this might be the site. If indeed it is Mount Rogozna, it could mark the second discovered deposit after the Čoka Rakita site in the Žagubica municipality, which is already considered one of the world’s top 100 gold deposits. There has been no official confirmation or response from authorities regarding whether Mount Rogozna matches the President’s description. However, ongoing work at the site suggests significant progress. When queried about the project’s specifics, the Ministry of Energy underscored the economic benefits of opening new mines, both for regional development and national growth. Each new mine activation stimulates related industries and trade. Preliminary analyses suggest that for every miner employed, an additional four workers find employment in mining-related sectors. Regarding the potential of Rogozna, the ministry confirmed that geological research is being conducted by “Zlatna Reka Resources LLC” across four exploration areas, with particular emphasis on the Šanac field due to promising findings of gold, copper, lead and zinc. While permits for geological exploration on Mount Rogozna have been granted to “Zlatna Reka Resources LLC,” the ministry emphasized its role in enforcing legal regulations rather than influencing corporate decisions. There is a possibility of the Serbian government and the investor entering into an investment agreement to address infrastructure development, environmental protection, preferential purchasing rights for domestic processors, and fiscal benefits. The state’s role will primarily be to recognize the project’s potential, considering its strategic importance and its impact on the environment, local communities, and economic growth.

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