Deputy general director Hu Shaohua said that the Serbian unit of China’s Zijin Mining Group, plans to start production of copper ore at the Novo Cerovo mine in June. Zijin Bor Copper has purchased a new jaw crusher for Novo Cerovo and a tertiary crusher was ordered for producing finer ore in the mill sections, Hu Shaohua said.
“In accordance with the Serbian legislation and after obtaining all the necessary permits and licenses, access roads to the mines were made, numerous machinery was purchased and about 200 young people were hired,” Shaohua said, as quoted in a statement by Zijin Bor Copper.
In January, Serbian media reported Zijin Bor Copper plans to invest $800 million (705 million euro) in expansion of its production capacity in Serbia in 2020. Zijin aims to launch a project for expansion of the Veliki Krivelj and Majdanpek open-pit mines and to launch an investment aimed at opening the Novo Cerovo copper and gold mine this year.
The Chinese group injected $350 million in the capital of Serbian copper mining and smelting company RTB Bor in December 2018, acquiring majority ownership, and renamed it to Zijin Bor Copper.