Zijin to invest $1.26 bln in Serbia’s Bor mining complex

MINEX Forum | June 30, 2020 | Views: 87 | Source: seenews.com

BELGRADE (Serbia), June 29 (SeeNews) – Zijin Bor Copper, the Serbian unit of China’s Zijin Mining Group, plans to invest $1.26 billion (1.12 billion euro) in capacity and equipment overhaul, as well as environmental and safety improvements at the Bor mining complex, deputy managing director Simon Ling said.

“In a year and a half since we took over RTB Bor, we have invested about $600 million. We believe in the future of the company in Serbia and we do not intend to reduce the investment,” Ling said in a video file posted on the website of Serbian public broadcaster RTS on Saturday.

Zijin plans to apply its “green mines” concept in Serbia and has so far planted 53,000 saplings on about 20,000 hectares in the vicinity of the Bor mining complex, RTS reported.

“We already have some equipment for the reduction of dust, we will install the remainder later this year. We have built a new facility for the processing of wastewater in the smelter. Flue gas leakage prevention systems are being installed and a desulphurisation facility will also be constructed,” Ling also said.

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

In April, Serbian energy minister Aleksandar Antic said that Zijin Bor Copper plans to invest $800 million in production capacity expansion in 2020 and 2021.

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