Zijin to invest $4 billion in development of Bor mines

The Chinese company, Zijin, announced an investment of about 3.8 billion dollars toward development of its mines near the eastern Serbian town of Bor.

The company says that the analyses showed that new technologies require larger investments and that it is preparing investments that will exceed four billion dollars.

Zijin has ambitious plans for the mines in Bor and Majdanpek, as they plan to double production by the end of the decade. In order to do that, Zijin has to fulfill three conditions – immprove the infrastructure, especially the energy infrastructure, expedite the issuance of permits for the acquisition of modern green technologies and boost the cooperation with the local community.

“Two-thirds of the ore is located at a depth of up to 2,000 meters underground. Large investments and advanced technologies are necessary to dig them out. We are ready to invest in that and we are confident that in five years, mines in Bor will be the largest in Europe and leading in the world. We are working to reduce carbon dioxide emissions in all mines and that’s why we need the support of the government to speed up the issuance of permits for the use of the latest mining environmental technologies, which Serbia has not used in this area so far,” says Chen Jinghe, Chairman of Zijin’s Board of Directors.

(RTS, 24.04.2024)


This post is also available in: Italiano

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