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“Huge potential for development in mining”

Prime Minister Ana Brnabic on Monday visited geological exploration works of mineral raw materials of copper and gold in the hydro power plant Cukaru Peki.

Brnabic “stressed on that occasion that mining has the potential to contribute to our economic growth and GDP growth, up to 5 percent, and maybe even more,” the government quoted her as saying.

The company Rakita Exploration, which operates within the Canadian Nevsun (Resources), has begun exploration mining works on the construction of a low bridge in Bor, which precede the opening of the mines.

Brnabic pointed out that this is an enormous base for which we will be able to rely in the future, because it will be easier for us to develop digitization, IT sector, agriculture, livestock, or we will be able to think about sustainable growth in the future.

She pointed out that the commencement of works is also important for a balanced regional development, since the Bor end is one of the mining centers in Serbia.

With this investment, Bor may look a lot different in the next few years, she pointed out, adding that it was important for the government to invest here and to stay in the country.

The Prime Minister said that this investment of about EUR 600 million will employ more than 1,000 people. She thanked the Canadian company for believing in Serbia for already investing significant funds in research.

Minister of Mining and Energy Aleksandar Antic pointed out to a big expansion of mining in Serbia, where more than 200 exploitation and 127 research fields are active, noting that EUR 60 million has been invested this year in research.

Nevsun plans to invest USD 590 million for the construction of a low pit and mines from 2018 to 2022, and at that time contractors will hire approximately 1,000 employees, while “Rakita” will have more than 150 employees.

Following the opening of the mine, during the exploitation phase from the end of 2022 to 2038, it is expected that the capital investment of Nevsun will be an additional USD 457 million.

Source; B92