Serbia’s Bor mining complex to get new Zijin investment

, Mining

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

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.

Source: seenews.com