24.4 C
Supported byspot_img

Additional Zijin investment of 408 million dollars in mines in Serbia

Member of Europium Groupspot_img
Supported byspot_img

This year, as it was emphasized by Zijin will be “a year of opportunities and challenges in which, with the planned investments of about 408 million dollars, 74,010 tons of copper in concentrate should be produced, ie 38.91 percent more than last year.”

The company Zijin plans to invest 408 million dollars in production and started projects in Bor and Majdenapek during 2021, the company announced.

That means that the company will realize more than 1.1 billion dollars of investments in just three years, it is stated in the announcement. It is added that during the two-and-a-half-year strategic partnership with Serbia, 700 million dollars were invested, which is twice as much as the price at which the company recapitalized the mining and metallurgical plant in December 2018.

Supported by

The company reminds that with the Strategic Partnership Agreement at the end of 2018, Zijin undertook to invest 1.26 billion dollars in the next six years in improving production, increasing efficiency, opening new mines, but also significantly increasing productivity.

“In the technical renovation and expansion of four mines and smelters in Bor, as well as in numerous safety and environmental protection projects, 360 million dollars were invested last year alone,” the statement reads.

It is added that this year, it is planned to invest about fifty million dollars more in the continuation of the started projects and production than in 2020.

“The goal is to produce 83,450 tons of cathode copper, which is 18 percent more than in 2020, about two and a half tons of gold and about 10 tons of silver, which is a year-on-year increase of 45.14 percent on gold and 10.12 percent on silver,” it is stated in the announcement.

The plan is for the number of injuries at work this year to be 30 percent lower than in 2020, for the realization of the training and education plan for employees to be 100%, as well as to continue the “green mines” project, ie to green an additional 250,000 square meters of degraded mining area.

The company invested 53.5 million dollars in environmental and work environment protection in 2020, the statement said, adding that “effective measures have been taken to dispose of solid and liquid waste, as well as to combat dust and flue gases.”

Priority has been given to the construction of a desulphurisation system and secondary chimneys, together with a new converter and a new anode furnace, and this comprehensive reconstruction should be completed by October this year.

The reconstruction includes the construction of a wastewater treatment system from “Jama”, for which preparatory work has begun, and the implementation of the wastewater treatment project from Lake “Robule”, as well as accompanying activities in the field of safety and environmental protection, according to companies.

Source: rs.n1info.com


Supported byElevatePR Digital

Related News

Unlocking Serbia’s gold reserves: Surge in mining exploration

Data from the World Gold Council reveals that approximately 210,000 tons of gold have been extracted globally thus far, with a significant portion, around...

Zijin Mining’s copper blending expansion: China’s growing dominance on the global stage

China's leading mining company, Zijin Mining Group, is poised to launch its latest copper concentrate blending facilities in Dongfang city, Hainan province, by the...

Zijin Mining: “We are the first in Serbia to apply the SA 8000 standard”

As stated, this standard regulates the absence of child and forced labor, occupational health and safety, freedom of association and the right to collective...

China approves $2.4 billion expansion for Julong copper mine, world’s largest copper operation

China has greenlit a CNY17.5 billion (USD2.4 billion) plan to expand the Julong copper mine in the Qinghai-Tibet Plateau, which will make it the...
Supported by
Supported by
Supported by
error: Content is protected !!