Serbia Zijin Mining has invested $5 million in a gold and copper exploration project on Mount Rogozna near Novi Pazar, conducted by Australian company Strickland Metals. With this investment, Zijin acquired a 2.4% stake in Strickland Metals, leading to a 21% rise in Strickland’s share price.
Strickland recently deployed a sixth diamond drill rig at the Gradina deposit site to accelerate exploration efforts. Zijin already operates major mining projects in Serbia, including the Bor and Čukaru Peki mines, which together produced 300,000 tons of copper and 7 tons of gold last year.
The Rogozna project has sparked mixed reactions—some view it as a significant economic opportunity, while others express concerns about potential environmental damage. Serbia’s Ministry of Mining and Energy clarified that no request for mine exploitation has been submitted yet, and that opening a mine requires extensive permitting.
Exploration on Rogozna is expected to continue through 2026. If results are favorable and all legal conditions are met, an exploitation permit could be requested no earlier than mid-2030. Estimated gold reserves of 150 tons could be worth up to €11 billion at current market prices.
