Canadian company finds huge deposits of Boron in Serbia

The Canadian company, Erin Ventures, based in Vancouver, discovered in the Piskanja region, not far from the abandoned coal mines near Baljevac (in the Raska municipality), Boron reserves which gross value is over $2 billion dollars.

According to a preliminary feasibility study, this mine could be in operation for 21 years. During this period, 11 million tonnes of Boron could be extracted from it. Boron is used in space technology and the mobile phone industry.

Also, this rare ore, also known as sodium tetraborate, or disodium tetraborate, is an important boron compound, used to make buffer solutions, in biochemistry, as a fire retardant, as an anti-fungal compound, in the manufacture of fiberglass and cosmetics and for producing detergents.

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The Vancouver-based, Erin Ventures started drilling near a coal mine in the vicinity of the Baljevac on Ibar in the Raska region, also known as Sandzak, after one of the largest metals and mining corporations Rio Tinto withdraw its concessions to the location.

The largest world reserves of Boron are in Turkey and the United States.

According to unconfirmed data, one of the world’s largest companies agreed to invest, together with Erin Ventures, $20 million in order to develop the Pisanje project.

According to the agreement, in the next two years, the company, which name, due to confidentiality reasons is kept a secret, should finance further research in the Baljevac area in order to verify that this Boron deposit is, indeed, the third biggest in the world.

WHY DID RIO TINTO WITHDRAW?

Following the 2006 concession contract, Rio Tinto was supposed to invest more than 10 million euro in geological research at Baljevac and draft e feasibility study, in order to begin preparations for the opening of the mine and refinery for the processing of boric acid. Up to 130 million euro was supposed to be invested in this project, and the company was supposed to hire 700 additional workers. However, Rio Tinto withdrew from the project, after which Erin Ventures took over the exploration rights.

(Vecernje Novosti, 12.08.2018)

http://www.novosti.rs/vesti/naslovna/ekonomija/aktuelno.239.html:743545-LEZISTE-BORA-KOD-BALjEVCA-NA-IBRU-Milioni-tona-retke-rude-u-srcu-Srbije

Photo credits: Vecernje Novosti

 

 

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