New Mines would Generate $5 Billion of Investments in Serbia and Create 4,500 New Jobs

By opening five new mines on existing deposits in Serbia, something that several foreign companies have already expressed their interest in, would translate into $5 billion worth of direct investments and creation of around 1,000 direct and 3,500 indirect jobs – said Vice President of the Serbian Chamber of Commerce (SCC), Miroslav Miletić.

Speaking at the First Serbian-Nordic Mining Academy, Vice President of the SCC also said that Serbia has a contemporary legal framework regulating the mining sector which facilitates investments and development of that economic segment.

“There are approximately 320 mining companies registered in Serbia, of different sizes and ownership structures, which employ a total of 25,000 workers. Serbia has substantially bigger geological resources than the currently utilized deposits, and the country’s strategic plans are geared towards boosting production in the existing mining facilities, opening of new mines, modernization of equipment, and introducing new digging techniques and preparation & processing technology”, Miletić added.

New geological research, conducted by the renowned foreign companies (Dundee Precious Metals, Rio Tinto, Freeport – McMoran, Reservoir Capital Corp., Columbus Copper etc.), is heralding better times for this segment of the Serbian economy. Several dozen research projects are being implemented and the research subjects are non-ferrous metals, precious minerals, lithium, non-metals, and hydrocarbons, said Vice President of the SCC.

Developing the mining sector in Serbia and the incentives for mining investments are the priorities – an Assistant Minister of Mining and Energy, Siniša Tanacković confirms. He adds that Serbia has a long mining tradition and a huge mining potential, while the mining sector can have a significant share in the national GDP which, in 2014, stood at 1.5%. Tanacković unerlines that his expectations from the geological research are high and that opening of new mines should be the end result.

The Finnish Ambassador to Serbia, Montenegro and Macedonia, Pertti Ikonnen talked about a strong support for developing Serbian mining sector and implementation of the latest technology, while Stefan Noreen, from the Swedish Embassy in Serbia, who is also a Senior Advisor to the Swedish Minister of Entrepreneurship and Innovation, talked about great opportunities for the transfer of the know-how, experience and latest mining technology from the Nordic countries to Serbia.

(eKapija, 10.03.2016)

This post is also available in: Italiano

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