Receive our newsletter – data, insights and analysis delivered to you
  1. News
October 25, 2021

Zijin commissions Cukaru Peki copper and gold mine in Serbia

The Cukaru Peki upper zone has estimated reserves of 1.28Mt of copper metal grading 3% on average.

China’s Zijin Mining, through its subsidiary Serbia Zijin Mining Doo, has commissioned the Cukaru Peki Copper-Gold Mine near the Serbian city of Bor.

The Cukaru Peki upper zone of the Timok copper and gold project forms part of the Zijin-owned RTB Bor operation, which is the only copper mining complex in Serbia.

The mining and processing project of the Čukaru Peki upper zone has a capacity to process 3.3 million tonnes of ore per annum.

According to estimates, the upper zone’s reserve volumes stand at 1.28Mt of copper metal grading 3% on average, along with 81t of gold grading 1.91g/t on average.

In a press statement, the firm said: “The first part of the project involves mining an ultra high-grade ore body. It is expected to produce 50,000t of copper and 3t of gold in 2021.”

Zijin Mining has already invested $474m in the new underground mine.

Content from our partners
Digitalisation and its impact on the mining industry
Case study: how to save time, cost, and mining interaction for service and dewatering bores
Innovations in mining and the future of the industry

Completion of the Timok project lower zone, which is currently in the feasibility stage, is expected to make Serbia the second-largest copper producer in Europe behind Poland.

The lower zone resource volume is estimated at 14.30Mt copper metal grading 0.86% on average, along with 299t of gold metal grading 0.18g/t on average.

China’s ambassador to Serbia, Chen Bo, was cited by Reuters as saying: “This project is important for the development of Serbia’s economy and also for strengthening cooperation between Serbia and China.”

Meanwhile, Xinhua quoted Chen Bo as saying: “I am very happy that the mine is built as an advanced green mine, which fulfils Chinese, Serbian and EU standards.”

In 2018, Zijin Mining agreed to acquire a 63% stake in RTB Bor by investing $1.26bn over a six-year period.

Earlier this year, reports emerged that Zijin Mining Group has been asked by Serbia to stop work at the RTB Bor copper mine for non-compliance with environmental standards.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy