A Serbian subsidiary of the multinational Chinese company Zijin Mining (SHA: 601899) received an award for its business success this year from the European nation’s Chamber of Commerce and Industry.
The gold, copper, lithium and zinc producer announced Tuesday that Serbia Zijin Mining was recognized for its exceptional business results in 2023 and the development of the Čukaru Peki copper-gold mine. The company says that “green” mine, constructed with state-of-the-art technology, became a very valuable asset to the country.
The operation produced 111 kilotons of copper and 152 kilo ounces of gold last year. Zijin has invested a total of US$920 million thus far and plans to sink another US$3.8 billion into the site going forward. It is equipped with a series of stations in its surrounding area that monitor dust levels, water quality, noise and blasting vibrations.
“Serbia Zijin Mining is a developing company,” Serbia Zijin Mining’s Deputy Director General, Gan Jonggang, said. “In just two years of operating the first green copper-gold mine in Serbia, Čukar Peki achieved outstanding production results and became the most important Serbian exporter.”
In addition to the new mine, the award recognized the company for having a significant increase in revenue and exports during 2023. The award also recognized high environmental protection standards, utilizing new technologies, being an attractive employer and consistently applying responsible business practices. The country’s annual Business Success Awards first launched in 1969.
Čukaru Peki. Photo via Zijin Mining
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Zijin Mining operates a series of copper and gold mines in China. It also has several other assets abroad like the Kamoa-Kalula operation in the Democratic Republic of the Congo.
The company has a 63 per cent stake in Serbia’s Bor Copper Complex.
Canada’s Trade Commissioner Service has described Serbia as the new European mining and exploration hub. The country is estimated to have mineral assets valued at approximately US$200 billion.
There are currently nine Canadian mining companies operating in the country.
rowan@mugglehead.com
