The Chinese invest HUGE AMOUNT OF MONEY in RTB Bor
The Chinese company Zijin will invest US$800 million this year in expanding production capacities in RTB Bor, as well as in the development of a new copper and gold mine Cukaru Peki. According to the Novosti daily, this year, Zijin will start expanding the open-pit mines Veliki Krivelj and Majdanpek and it will start an investment in the opening of a new copper and gold mine Cerovo 2. In addition, preparations will begin in the underground mine Jama for activating the Borska Reka deposit, whose deepest section reaches 450 meters. The beginning of the reconstruction and expansion of the capacity of the copper smelter is also planned, from current 80,000 to as many as 200,000 tons of copper per year, the construction of another sulfuric acid plant, a new electrolysis plant… The most difficult task for the Chinese, as it is stated, will be work on the opening of the upper zone of the Cukaru Peki mine, where reserves of about one million tons of copper and close to 70 tons of gold have been established. This mine is expected to become fully operational by mid-2021. In addition, RTB’s strategic partner has purchased rights from the US-based Freeport company for nearly US$400 million regarding the lower zone of the deposit, where resources of nearly five million tons of copper and nearly 150 tons of precious metal have been established – almost the same quantity of these metals that have been excavated in Bor in 115 years of mining. In cooperation with the Bor Institute for Mining and Metallurgy, Zijin began the preparation of the main mining project for the exploitation of the Borska Reka underground deposit. The site is estimated to contain reserves of about four million tons of copper, 130 tons of gold and more than 1,000 tons of silver whose gross value, at current prices, exceeds US$30 billion.