The richest goldfield in the world in east Serbia, US-Canada investment project
Counting gross value of copper and gold, according the price at the metal exchange, it appears that wealth worth nearly 18 billion dollars is hidden around Bor. American mining corporation “Freeport McMoRan” which, in cooperation with the Canadian company “Reservoir minerals”, explores Bor surroundings in the area of “Cukaru peki”, has announced that in the town vicinity, so far, found the resources of 1.7 million tons of copper and 98 tons of gold.
What kind of wealth it is, without a doubt, shows the fact that for the past 110 years of mining in Bor it have been obtained five million tons of copper and nearly 160 tons of gold.
Calculating the gross value of copper and gold in the newly discovered deposits, according the official prices at London Metal Exchange, it appears that wealth worth nearly 18 billion dollars is hidden around Bor. And these are just the first results, as the Americans and Canadians continue with geological surveys in Bor surroundings.
Some unofficial information even show that the copper reserves in Bor surroundings are estimated at seven to eight million tons, with a corresponding amounts of gold and other precious metals. But further researches will confirm that. What is certain, however, is the fact that the deposit discovered by the Americans and Canadians, at this moment, is the richest and most prosperous in the world.
Further, in the deposits investigated by “Freeport” and “Reservoir minerals”, the average copper content is 2.6 percent, and 1.5 grams of gold per ton. And for example, in the mines of MSB “Bor” the most exploited currently is ore with 0.4 percent of red metal. What Americans and Canadians found show the fact from the literature that deposits with one percent of copper, if they are followed by the proper amounts of ore, are considered – extremely profitable.
According to the assessment of an independent mining consulting company SRK , from Great Britain, which processed data, another 20 million dollars need to be invested in geological exploration of Bor surroundings, in order that project enters a phase of greater security.
Dr Dejan Kozelj, director and main geologist of “Freeport” in Serbia, said for “Novosti” that company invested about15 million dollars during last year in geological exploration of Bor surroundings.
“Although encouraging initial results provide motivation for further research still needs a significant number of positive drilling results before making a final decision to start exploitation. It is necessary that we have enough data to define deposit size and quality, after which we have to prepare major mining project of exploitation, in order to obtain mining right”, said Dr. Kozelj.
Latest Posts
- Serbia, The real plans of the Jadar project
- Eurasian Resources Group highly commends the publication of the Critical Raw Materials Act
- Rio Tinto has spent more than a million euros on land in Serbia at the proposed site of a lithium mine that was eventually cancelled a year ago
- A new grievance mechanism for Chinese overseas mining needs to be free to use
- Europe revives mining to reduce dependence on the import of key raw materials, supply from Serbia as competitive choice
Popular Post
- Serbia, The real plans of the Jadar project
- Europe revives mining to reduce dependence on the import of key raw materials, supply from Serbia as competitive choice
- First Quantum Minerals, Roaring Back to Life thanks to sale of Kevitsa nickel-copper-platinum mine in Finland
- Outokump’s Kemi chrome mine in Finland targeting carbon neutrality by 2025
- Erin Ventures boron Piskanja project in Serbia, drilling report updates
- Zidjin opens the “Chukaru Peki” mine in Serbia in the next two years
- Rio Tinto Ultra lithium mining project in Serbia
- Avala Resources shareholders invited to approve transaction with Dundee, copper-gold projects in Serbia
- What Are The Major Natural Resources Of Macedonia?
- How valuable is Kosovo’s mineral wealth?