SMM5, June 6: it is reported that in the first quarter of 2020, the (Zijin Bor Copper) flotation plant in Serbia produced a total of 5828 tons of copper concentrate, compared with 5064 tons in the same period last year, an increase of 15 percent over the same period last year.
In the first quarter of 2020, the flotation plant handled a total of 2.519 million tons of copper ore, compared with 2.059 million tons in the same period last year.
At present, the average daily ore handling capacity of the flotation plant can reach 2.8-29000 tons.
The flotation plant is part of the Veiliki Krivelj open-pit mine and has ore reserves of about 560.5 million tons (with a copper grade of 0.33 per cent).
On December 18, 2018, Zijin Mining Group signed an agreement with the Serbian government to buy a 63 per cent stake in Bor Copper Mine held by the Serbian government for $350 million (the Serbian government retains the remaining 37 per cent). Zijin will also take on $200m in debt at the Boer copper mine and has pledged to retain 5000 jobs and invest an additional $1 billion over the next three years, doubling the mine's production capacity from 60,000 tonnes of cathode copper to 120000 tonnes a year. The project has become by far the largest Chinese investment in Cyprus.
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