According to news on March 1, Zijin Bol Copper, a Serbian subsidiary of China Zijin Mining Group, plans to invest US$408 million in Bol Mines in 2021, up from US$360 million last year. The company intends to use the funds to rebuild existing and newly opened mines, increase the production capacity of the Bol copper smelter and environmental protection activities.

Zijin Bol Copper said in an early company briefing that the company plans to produce 83,450 tons of copper cathodes in 2021, an increase of 18% year-on-year, and an estimated gold production of 2.5 tons, an increase of 45.1%, while silver production is expected to increase by 10.1% to 10. Ton.

Construction of flotation plant

Zijin Bol Copper will complete the construction of a flotation plant at the Majdanpek mine in the second quarter of 2021, and plans to build a similar flotation plant at the Veliki Krivelj mine by the end of 2021.

The company plans to increase the output of the Novo Cerovo open-pit mine and start processing 10,000 tons of ore per day starting in April.

Zijin Mining injected US$350 million in capital into Serbian copper mining and smelting company RTB Bor in December 2018, obtained a majority stake, and changed its name to Zijin Bor Copper.

The Timok copper-gold project in eastern Serbia includes the upper and lower areas of Kukalo-Peki. Zijin Mining owns 100% of the shares in the upper Kukalo-Paki district and 60.4% of the shares in the lower Kukalo-Paki district. The Chinese group intends to start the Borska Reka deposit in the Jama underground mine. It is estimated that the deposit contains nearly 4 million tons of copper, 130 tons of gold and 1,000 tons of silver.Editor/Huang Lijun