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Mining News

New research has revealed the true wealth of copper and gold deposits in eastern Serbia

One of the richest deposits of copper and gold was discovered at the location of “Čukar peki” near Bor. Copper concentration exceeds 2%, while one percent of this metal is considered to be profitable.

After completing the testing of the upper zone of the “Cukaru peki” deposit at Bor, the Canadian company ‘’Nevsun’’, in cooperation with the American mining company ‘’Friport McMoran’’, started testing the lower zone of that deposit, in which will be invested 20 million dollars, find outs” Blic “.

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The first results of the research – at 14 locations at depths of more than 800 meters – showed that it was one of the richest deposits of copper and gold in the world, since on the research found the content of copper, which in some places exceeded two percent.

About what kind of deposit is best said by expert data according to which copper deposits with one percent of this metal are considered profitable, provided that they have enough ore for exploitation. For example, in the Mining and Smelting Basin “Bor”, ore is exploited with a maximum of 0.25 percent copper.

As expected, geological exploration of the lower zone of the “Cukaru peki” deposit, estimated to go up to 1500 meters deep, should be completed next year.

After that, a preliminary feasibility study will be conducted to show whether it is economically justified to open another mine in the vicinity of Bor, but it is already certain that the lower part of the “Cukara peki” deposit is as attractive as the one above.

Let’s remind, the Canadian company ‘’Nevsun’’, which owns 100%  of the upper zone of the ‘’Cukaru peki’’ deposit, announced that the exploration of that part of the mining land was completed and that the mine, with investments of 1.5 billion dollars, will be opened in 2021 .

According to this study, the underground mine should be exploited for the next 15 years, and during this time, about a million tons of copper and nearly 70 tons of gold, worth more than $ 12 billion, would get out.

Additionally, ‘’Nevsun’’, together with the multinational ‘’Rio Tinto’’, the largest mining corporation in the world, has been exploring 20 more exploration fields in the reservoir “Cukaru Peki”. The initial investment is about 5 million dollars. Estimates say that this deposit extends from Bor, through the village of Nikolicevo to the site “Kraljevica”, not far from Zajecar, but future research is still to be confirmed.

Source: Blic

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