Serbia: Mining exploration activities report for 1+2 Q2013, changes affected by new mining law

1. July 2013. / Mining

The former period of 2013 is characterized by continuation of economy crisis which is reflected in very low level of industrial production with mild increase which gives us a hope in recovery.

Thanks to copper exploration in Veliki Krivelj in Copper mining company May brought the biggest amount mining activities and results, it was excavated more than 2400 tons of copper which was the biggest record for last 10 years. May production in copper mine Majdanpek is also significantly better than April production and miners are hoping that they will have even higher production in June.

Good news is arriving from Flotation and from other parts of Bor’s basin. Bor achieves plans and drives good policy with state and syndicates, production is stabilized and gives good results in other mines of colored metallurgy also. However, situation in Steel foundry in Smederevo influences total results of black and colored metallurgy in Serbia the most.

Most important event in the former period was bringing the law that regulates research in geology and mining. Law enforcement was postponed because of two disputable articles 11 and 115. The first article refers to the ownership and researches of strategy mineral materials. Interested companies have withdrawn their drilling equipment from locations they did research because they don’t want to invest in research where the mayor owner will be the state. The law also might create a  problem of predicted increase of compensation for use of natural goods.

Source;Serbia Energy Mining Desk

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