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Chinese group to invest $1.26BN in Serbian copper mine
The Serbian government has selected China’s Zi-jin Mining as a strategic partner for the state-run copper miner RTB Bor. Under the plan, the group will invest some $1.26 billion in the Serbian copper miner and smelter.
Zijin Mining will obtain a 65% stake in RTB Bor, and it will invest some $320 million in the launching of the Cerovo 2 open pit mine, according to the information obtained by local news site SEEnews.com.
The planned investments are expected to allow RTB Bor to preserve some 5,000 jobs in Serbia.
Zijin Mining says it is involved in the exploration and mining of copper, gold, zinc and other mineral resources. The company operates a port-folio of projects in China and nine foreign markets, and it is listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, according to data from Zijin Mining.