Serbia mining: Geological exploration of mineral resources in Serbia, The importance of foreign investment

Published on 4. December 2013., Mining

Since 2003th, the foreign companies invested abou t300 million dollars. Out of these, biggest investments came from: “Avala Resources” – 117 million, than “Rio Sava Exploration” – 60 million, “Dunav Resources” – 45 million and “Rakita Exploration” – 15 million dollars.

Investments would be increased substantially with mines opening, so that instead of millions it would be talked about billions of dollars. Serbia is a good place for investment in exploration and mining. Development projects, as well as Management Strategy of mineral resources, it was projected that the revenue of the mining industry to the 2030th would be 3.8 billion EUR, accounting for five percent of GDP. So far the most invested in the research of gold and copper ore, but a lot has been invested in research of lithium and boron.

Mineral resources and mining sector in RS do not have the economic significance which should be, considering that Serbia is relatively rich in mineral resources. More favorable situation is in the production of solid, liquid and gaseous MR, which is directly related to the state energy balance, and during the last or two year in the copper production. Due to the increasing demand for MR, the mining sector must have a much larger share of the economic growth, but also the most important role in investment attraction, especially in the foreign one.

The new law will harmonize the classification of mineral raw materials and resources. For now, it does not exist yet, because Regulations for the categorization and classification of mineral reserves dates back from1979.

Serbia also needs the study of mineral resources and reserves, which has been indicated in the Draft Law on Geological Exploration and Mining (2013).

Source; Serbia Energy Mining desk