2.1 C
Belgrade
Supported byspot_img
spot_img

The richest goldfield in the world in east Serbia, US-Canada investment project

Member of Europium Groupspot_img
Supported byspot_img

Counting gross value of copper and gold, according the price at the metal exchange, it appears that wealth worth nearly 18 billion dollars is hidden around Bor.  American mining corporation “Freeport McMoRan” which, in cooperation with the Canadian company “Reservoir minerals”, explores Bor surroundings in the area of “Cukaru peki”, has announced that in the town vicinity, so far, found the resources of 1.7 million tons of copper and 98 tons of gold.

What kind of wealth it is, without a doubt, shows the fact that for the past 110 years of mining in Bor it have been obtained five million tons of copper and nearly 160 tons of gold.

Calculating the gross value of copper and gold in the newly discovered deposits, according the official prices at London Metal Exchange, it appears that wealth worth nearly 18 billion dollars is hidden around Bor. And these are just the first results, as the Americans and Canadians continue with geological surveys in Bor surroundings.

Supported by

Some unofficial information even show that the copper reserves in Bor surroundings are estimated at seven to eight million tons, with a corresponding amounts of gold and other precious metals. But further researches will confirm that. What is certain, however, is the fact that the deposit discovered by the Americans and Canadians, at this moment, is the richest and most prosperous in the world.

Further, in the deposits investigated by “Freeport” and “Reservoir minerals”, the average copper content is 2.6 percent, and 1.5 grams of gold per ton. And for example, in the mines of MSB “Bor” the most exploited currently is ore with 0.4 percent of red metal. What Americans and Canadians found show the fact from the literature that deposits with one percent of copper, if they are followed by the proper amounts of ore, are considered – extremely profitable.

According to the assessment of an independent mining consulting company SRK , from Great Britain, which processed  data,  another 20 million dollars need to be invested in geological exploration of Bor surroundings, in order that project enters a phase of greater security.

Dr Dejan Kozelj, director and main geologist of “Freeport” in Serbia, said for “Novosti” that company invested about15 million dollars during last year in geological exploration of Bor surroundings.

“Although encouraging initial results provide motivation for further research still needs a significant number of positive drilling results before making a final decision to start exploitation. It is necessary that we have enough data to define deposit size and quality, after which we have to prepare major mining project of exploitation, in order to obtain mining right”, said Dr. Kozelj.

Supported byElevatePR Digital

Related News

Current Accusations Against Tara Resources, the Concessionaire, Found to Be Unsubstantiated

The most likely outcome, if the concession agreement for the Brskovo mine is terminated, is that the concessionaire, Tara Resources, will initiate arbitration against...

Titan Lithium Plans Establishment of Lithium Processing Plant in the UAE

KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Titan Lithium have announced the signing of a 50-year land lease...

Outdated 1872 Law Exempts Gold, Silver, and Lithium Mining on Federal Land from Royalties to the US Treasury

When Congress opened U.S. public lands for mining in 1872, the nation was less than a century old. Miners used picks, shovels and pressurized...

Allied Nations, Including US, Advance Rare Earth Recovery Initiatives in Response to China’s Dominance

Rare Element Resources is working to establish US-based rare earth production using innovative recovery and separation technology. Forty years ago, China understood something long before...
Supported by
Supported by
Supported by
error: Content is protected !!