Chinese mining company “Zidjin”, which owns RTB Bor, will open a new copper mine at the Chukaru Peki site near Bor in the next two years, and an agreement to develop the project, whose initial investment is close to $ 500 million, was signed in China.
The memorandum of understanding for the development of the upper zone of the Timok copper mine near Bor, known as “Chukaru Peki”, was signed on behalf of the Government of Serbia by Minister of Mining and Energy Aleksandar Antic, and on the Chinese side by “Zidjin Mining Group” company president Jin Chen.
After the signing of the memorandum, Minister Aleksandar Antic said that the company “Zidjin”, which owns the RTB Bor mine, will start mining the ore already in 2021 at the “Chukaru Peki” site and that it will invest 474 million dollars in the opening of the upper Timok zone.
“And when that upper site, or that zone, goes into full exploitation, the annual production will be at the level of 79,000 tons of copper. This is absolutely in line with all the plans we have implemented so far and that we have jointly planned. That is exactly what we talked about, “Antic told reporters in Xiamen.
He underlined that the company “Zidjin” in Serbia will produce more than 200,000 tons of copper annually, more than 120,000 tons from the own concentrate of our joint company “Zidjin Bor” and about 80,000 tons in the Timok project.
Zidjin President Chen Jinh expressed satisfaction over the signing of an agreement with the Government of Serbia, with which this mining giant continues cooperation with Serbia.
An agreement has been signed in Xiamen to establish friendly relations between the city of Bor and the Shanghan district, where the Zijin mine is located.
“Bor is very important for our cooperation, and the agreements signed are significant for the future life of both cities,” Zidjin’s the first man, told reporters.
Bor Mayor Aleksandar Milikic says that much has changed since the arrival of Zidjin, above all, that Bor has become a city with many more investments.
The signing of the agreement was also attended by Minister of Trade, Tourism and Telecommunications Rasim Ljajic, Minister of Environment Goran Trivan and President of the National Council for Coordination with Russia and China Tomislav Nikolic.
Before signing the agreement, Ministers Ljajic, Antic and Trivan discussed new opportunities for co-operation with party secretary officials in Fujian province, where the Zidjin mine is located.
Also, the Serbian delegation had a meeting with the leaders of Shanxi province, led by Governor Lou Jangseng.