The world’s largest mining companies are surveying the terrain in Timocka Krajina, known among geological experts as Timok’s magmatic complex, looking for rich copper and gold deposits, the “Novosti” daily reports.
British-Austrian Conglomerate Rio Tinto, the US Freeport-McMoRan, Japan Oil, Gas and Metals National Corporation (JOGMEC), Canadian companies Dundee and Mundoro, Austrian Raiden, etc. positioned themselves here a long time ago.
Si far, without any doubt, the biggest winner is Chinese Zijin, which, along with strategic partnership with RTB Bor has also purchased Canadian Nevsun, the latter having exploratory rights over the world’s richest copper and gold deposit – the Cukaru Peki deposit, where preliminary estimates of ore deposits amount to 15 million tons of copper and almost 400 tons of precious metal.
Canadian Mundoro, in partnership with the US Freeport, which owns 59.6 percent of exploratory rights in lower part of the Cukaru Peki deposit, which is believed to hide resources of 14 million tons of copper and around 300 tons of gold, is actively involved in geological surveys of the village of Savinac near Boljevac, where they found a layer containing 30 grams of gold per tonne and 171 grams of silver per tonne at the Tilva Ros deposit.
The Americans, who invested US$40 million in this project, are also surveying Bacevica with Canadians, which is located in this part of Serbia as well.
Mundoro has exploratory rights around the Bor Lake as well, where, in cooperation with Japan Oil, Gas and Metals National Corporation (JOGMEC), it conducts geological surveys across the area of 46 hectares. Mundoro and JOGMEC conduct geological surveys at three other locations in Timocka Krajina – Dubrava, Padina and Zeleznik, within Timok’s magmatic complex, which according to geologists is very rich in copper and gold ores.
On the other hand, Rio Tinto, in cooperation with the Australian exploratory company Raiden Resources, began discovering new ore deposits of copper and gold around Majdanpek.