July 7 (SeeNews) - Zijin Bor Copper, the Serbian unit of China's Zijin Mining Group, plans to invest $20 million (17.7 million euro) in the construction of a new belt conveyor system for the transport of open-pit mining ore, a company official said.
"A system of three conveyor belts will transport the ore from the ore body to the surface of the earth. The length of the lanes, which will extend in the south-north direction, is 4,600 metres," Li Gang, the director of Serbia Zijin Construction, a unit of Zijin Bor Copper, said in the latest edition of corporate newsletter Kolektiv.
A total of 180 company employees will participate in the construction of the system, which will take two and a half years, Gang said.
The Chinese group injected $350 million in the capital of Serbian copper mining and smelting company RTB Bor in December 2018, acquiring majority ownership, and renamed it to Zijin Bor Copper.
In 2019, Zijin Bor Copper boosted the production of copper concentrate at the mining complex by 23.33%, while its net profit soared 317.14%.
($ = 0.8867 euro)
RTB Bor - Grupa Rudarsko-Topionicarski Basen Bor DOO is among the biggest companies in SEE. You can download our SEE Top 100 ranking here
or subscribe to our free Top 100 newsletter here