Srbija Zijin Mining reported operating revenues of 213.8 billion dinars in 2025. The vast majority of this – 210.9 billion dinars – came from the sale of copper and gold ore concentrates to its affiliated entities abroad.
Compared with the previous year, operating revenues increased by more than 18%.
Total revenues were a further 10 billion dinars higher, reaching 224 billion. As total expenses grew at a slower pace, overall revenue growth exceeded 22% year-on-year. Taken together, this resulted in a new surge in profitability for Zijin Mining. Net profit last year exceeded €1.1 billion – more precisely, 133.22 billion dinars. Compared with 2024, when profit amounted to 83.7 billion dinars, the Chinese company’s earnings rose by 60%.
In other words, nearly four times higher than in 2021.
Five exploration licences
Srbija Zijin Mining published its 2025 financial statements, as shown in the database of the Business Registers Agency. The company also released its annual business report.
Srbija Zijin Mining is wholly owned by Čukaru Peki, a company registered in the Netherlands. Both are part of the multinational mining corporation Zijin Mining Group from China.
Zijin Mining has operated in Serbia since January 2019, when it acquired shares in the Canadian company Nevsun Resources and became the owner of one of the richest ore deposits – Čukaru Peki, according to the company’s website.
Production began in 2021, when the Čukaru Peki mine was officially commissioned.
Srbija Zijin Mining engages in the production and sale of copper and gold concentrates, generating revenue through these sales.
According to the 2025 business report, the company held five exploration licences in Serbia, as well as the exploitation rights to the Čukaru Peki deposit, with a 100% ownership stake in both its upper and lower zones.
During the past year, the company also carried out land acquisition activities.
According to the business report, the total area of acquired land in 2025 amounted to 930 hectares, across 2,523 plots. The total compensation paid for this was €31.25 million.
Overall, the value of property, plant and equipment in the balance sheet increased from 117 billion to 133 billion dinars (despite a reduction in the value of plant and equipment by two billion).
Other major changes
Last year, Zijin also acquired the company Alba Invest, thereby taking over a former Falkensteiner hotel in Novi Beograd.
In the balance sheet, other significant changes were recorded under equity investments in legal entities, which rose from 11 million to 1.7 billion dinars.
The company’s cash position also changed significantly, increasing from 5.9 billion to 10.5 billion dinars.
Long-term loans and other liabilities to the parent company, subsidiaries and related foreign entities rose from zero to 4.9 billion dinars.
Čukaru Peki: Capacity of three to four million tonnes of ore
The Čukaru Peki copper-gold mine, located six kilometres from Bor, has an annual capacity of three to four million tonnes of ore, averaging 2.9% copper and 1.7 grams of gold per tonne, according to the annual report.
The project has, as noted, created a large number of jobs. By the end of 2025, Srbija Zijin Mining employed 1,369 people.
In the section on future development, the report states that exploration activities will continue, along with further construction of ventilation shafts and mining facilities necessary for exploiting ore from the Lower Zone. “The Lower Zone project will be developed in three phases. Intensive construction will continue until 2052. The finalisation of studies and the acquisition of trial permits are currently underway.”
Zijin Group
Zijin Mining Group, of which Srbija Zijin Mining is a part, operates mining projects in 16 provincial-level regions in China, as well as 21 projects across 15 other countries worldwide, the report notes.
The group’s key overseas assets include the Čukaru Peki copper-gold mine and the Bor copper mine in Serbia (the latter operated by Srbija Zijin Copper, a separate company), as well as the Kamoa-Kakula and Kolwezi copper mines in the Democratic Republic of Congo, and the Buriticá gold mine in Colombia.
(Forbes Serbia, 08.04.2026)