Zijin Copper Serbia sold 5.74 tons of gold to the National Bank of Serbia in three and a half years

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The company “Srbija Ziđin Koper” (Zijin Copper Serbia) sold 5.74 tons of gold to the National Bank of Serbia in three and a half years, the company announced today.

That amount of gold was produced in the only factory for obtaining gold in Serbia, which has been operating as part of the company since December 18, 2018, when the Chinese “Ziđin” concluded a strategic partnership agreement with the state of Serbia and took over 63 percent of the ownership of the former RTB Bor “Serbia Ziđin Koper”.

The entire amount of gold produced, according to Serbian laws, must first be offered to the National Bank of Serbia, and only in the event that it refuses to buy it at the stock market price, “Srbija Ziđin Koper” could request an export permit.

This has not happened so far, which means that the gold produced in this company remains in Serbia.

According to the latest data from the World Gold Council, with 38.1 tons of gold bars, Serbia is the leading country in the region in terms of the amount of this precious metal deposited in the vaults of the National Bank of Serbia.

Few, however, know that almost the entire amount of “yellow treasure”, which ranks our country in 54th place in the world, was produced in “Serbia Ziđin Koper”.

In just six months of this year, as many as 852 kilograms of gold were produced, sold and delivered to the National Bank, according to “Zidjin”, reports Tanjug.

In second place in the Balkans is North Macedonia with 6.9 tons of gold reserves, Slovenia with 3.2 tons and Bosnia and Herzegovina with three tons of gold.

In last place is Montenegro with 1.09 tons, while Croatia is not on the list of 100 ranked countries.

In the last six years, Serbia has significantly increased its gold reserves and achieved a jump of eight places on the list of the World Gold Council. In 2016, there were 17.9 tons of gold in the vaults of the National Bank of Serbia, and Serbia ranked 62nd in the world.

Although gold has been produced in Bor since the establishment of the mine in 1903, official statistics on the amount of yellow metal obtained have been kept since 1938.

From then until December 2018, around 160 tons of gold were produced in the former RTB Bor.

Before 1938, records of gold production were kept by the French, because the mine was in their hands.

At that time, the French company freely disposed of precious metals, but there are data that by 1935, 16 tons of gold were exported from the Bor mine.

The situation was changed only in 1934 with the Decree on the Supervision of the Production and Use of Precious Metals, thanks to which the National Bank of Yugoslavia was given the right to buy at prices on the London Stock Exchange.

A kilogram of gold was worth $58,119.62 on July 4, while $1,807 was paid for a fine ounce (31 grams) on the London Stock Exchange.

According to economic experts and banking analysts, gold is the best and safest investment, especially in turbulent times in the whole world due to the Russian-Ukrainian conflict, Politika reports.