February 1 (SeeNews) - UK base metal miner Mineco said it invested a total of $13.5 million (12.5 million euro) in the Bosil-Metal lead and zinc mine in eastern Serbia and plans to open it officially in the coming months.
The preparation of the pilot production facility is being finalised and acquired technological experiences will be used for designing the plant for commercial ore processing, Mineco said in a statement e-mailed to SeeNews on Tuesday.
Mineco has hired 70 employees at Bosil-Metal mine so far and expects their number to reach 300 at full production, the company said.
The mining group also operates the Veliki Majdan mine, declared by Serbia's Privatisation Agency as an example of a successful takeover from bankruptcy, and the Rudnik mine near Gornji Milanovac.
Mineco said it plans to increase the workforce of Veliki Majdan mine by between 5% and 10% in 2017 from 300 currently.
The UK company acquired the Bosil-Metal concession, with over 2 million tonnes of reserves, in 2011.
Elsewhere in Southeastern Europe (SEE), Mineco is also active in Bosnia and Herzegovina where it operates the Gross mine and develops the Gorazde and Olovo mines.
($ = 0.9265 euro)