Memoranda Signed in China – Zijin Mining to Invest Another USD 3.8 Billion in Serbia

The minister of mining and energy of Serbia, Dubravka Djedovic Handanovic signed yesterday in Xiamen two memoranda of understanding with the company Zijin Mining on the continuation of that company's investment in the Republic of Serbia.

According to the ministry’s website, the documents signed are the Memorandum on the Development of the Lower Zone of the Cukaru Peki Mine, by which Zijin Mining confirmed its intention to invest an additional USD 3.8 billion in the Republic of Serbia, and the Memorandum on the Development of the 300 MW solar power plant project for the company's needs.

– Thanks to today's Memorandum, which entails USD 3.8 billion in new investments, Serbia will rank among the largest European copper producers and leading gold producers, but also create the possibility for additional investments, of course with the obligation to apply the highest environmental standards. Also, the investment of Zijin Mining in a solar power plant worth USD 200 million will enable the synergy of renewable energy sources and mining, as well as better environmental protection, because the use of energy from coal and fossil fuels will be reduced – the Minister said.

The memoranda were signed as part of the "One China, One Serbia" Investment Forum, which was held as part of the 23rd China International Fair for Investment & Trade, where the Republic of Serbia is the guest of honor.

– Mining is the leading sector in the growth of industrial production in Serbia and will record a growth of 22% in 2022 compared to 2021, to which the company Zijin, which employs about 7,700 people in our country contributed significantly. Serbia is rich in some of the critical minerals, which represents a unique opportunity in the 21st century, and our goal is to use the mineral wealth we have in a rational, responsible, efficient and sustainable way, for the sake of future generations – said Djedovic.

Ministarstvo rudarstva i energetike Republike Srbije

Serbia Zijin Mining d.o.o. Bor

Dubravka Đedović Handanović

Xiamen

investments of Zijin Mining

Memorandum on the Development of the Lower Zone of the Cukaru Peki Mine

Memorandum on the Development of the 300 MW solar power plant project

One China One Serbia

China International Fair for Investment and Trade