10 March, 2021

Zijin’s new investments in Serbia’s mine in 2021

In 2021, Zijin Bor Copper, the Serbian unit of China’s Zijin Mining Group, plans to invest $408 million (339 million euro) in the Bor mining complex, up from $360 million last year, it said. The company intends to produce 83,450 tonnes of copper cathode, up 18% on an annual basis, the output of gold is estimated at 2.5 tonnes, up 45.1%, while production of silver is seen up 10.1% to 10 tonnes, Zijin Bor Copper said in the online edition of its corporate newsletter Kolektiv earlier this week.

Zijin Bor Copper will complete the construction of a flotation plant at the Majdanpek mine in the second quarter of 2021 and intends to build a similar one at the Veliki Krivelj mine by the end of the year. The company plans to increase the output of the Novo Cerovo open-pit mine and to process 10,000 tonnes of ore daily as of April.

Zijin injected $350 million in the capital of RTB Bor in December 2018, acquiring majority ownership, and renamed it to Zijin Bor Copper.

Source: seenews.com