Serbia mining: 35 companies are searching for ores and minerals in Serbia

14. June 2017. / Mining

“Resavica” mines are the only public company that is still financed from the budget. Their reorganization is being prepared, and out of nine mines, in the first phase, it is planned to close two mines which have exhausted coal reserves. Three new mines are being prepared to be opened in Serbia in the next twelve months. Geological explorations are increasingly being attracted by foreign investors.

Serbia is still the only site in the world where new mineral – jadarite has been found, which, according to initial estimates, can cover at least 10 percent of world’s demand for highly sought after lithium and boron. We are among the richest countries in the region by gold and copper reserves.

“In any case, additional geological explorations are needed in order to fully understand all geological characteristics of these deposits. The most important thing in the story is actually the economy. The production price of copper must be lower than the market price, the selling price, otherwise one would have the exploitation with negative economic effects, or loss,” says Rade Jelenkovic, professor at the Faculty of Mining and Geology in Belgrade.

35 companies are searching for various ores and minerals in our country, and 80% are with foreign capital. At the moment, 120 exploration fields have been opened, and another 90 are waiting for a permit. The State has no money for explorations.

“Geological explorations are expensive and long-lasting activity with high risks. Geological explorations do not always end with the opening of the mine, because proving reserves is a commercial type activity, as it must show profitability in the opening of the mine,” explains geologist Dusan Podunavac.

Some sites have already shown profitability and the opening of the mines is being prepared: the company “Metalfer” near Krupanj, and the company “Hram” will open a coal mine near Pirot. The British “Mineco”, which already owns the two most successful mines in our country, is also completing the pilot plant for the opening of the third one near Bosilegrad.

“Once the mine is put into operation, it will be the first lead and zinc mine with underground exploitation in the last 40 years.”Bosil-metal” mine currently employs about 100 workers, and when it is in full capacity, it will employ around 300 workers, if not more”, said Petar Radovic from the company” Mineco Srbija”.

It is strategically important for the state to have many certified reserves of natural resources. Explorations are now time-limited and investors have to pay compensation for the exploration area.

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