British base metal miner Mineco plans to invest $1 million (884,132 euro) in the overhaul of equipment at Veliki Majdan lead and zinc mine in Serbia this year, the company said.
The company also plans exploration works in the Kosjeric and Veliki Majdan fields, as well as continued industrial and technological copper ore exploration, Mineco said in a statement on Thursday.
A total of 6,700 tonnes of commercial lead and zinc were produced at the mine in 2018, bringing its total output since the relaunch of production activities in 2009 to 480,000 tonnes, Mineco said.
The Veliki Majdan mine paid the Serbian government a total of 51.6 million dinars in mining rent last year, which makes the total amount paid from 2008 to 2018 approximately 347.7 million dinars, the company noted.
There are 300 people currently working at the mine, 15 more than in 2017, and their salaries increased by 11% in 2018, Mineco added.
In addition to the Veliki Majdan Mine, the British company Mineco and its partners manage two other lead and zinc mines in Serbia – Rudnik near Gornji Milanovac and Bosil-Metal near Bosilegrad, where pilot production has started.
Elsewhere in Southeastern Europe, Mineco is active in Bosnia and Herzegovina where it manages the Gross lead and zinc mine, conducts exploration works in the old antimony mine near Novo Gorazde, and in 2017 production was also begun at the cerussite mine near Olovo.