February 23 (SeeNews) - Zijin Bor Copper, the Serbian unit of China's Zijin Mining Group, has given up its rights to explore for lead, zinc, copper, silver, or gold in the Kosmaj mountain near Belgrade, the Serbian government said.
The energy ministry revoked Zijin's exploration rights at the company's own request, the government said in a statement issued on Tuesday without elaborating.
The Chinese company did not respond to SeeNews emails and phone calls seeking information about the reasons for its decison by the time this article was published.
The exploration rights were granted in 2012 to Balkan Exploration and Mining and were then passed on to Zijin Bor Copper after changes in the ownership structure, the cabinet said.
The Chinese group invested $350 million (308 million euro) in the capital of Serbian copper mining and smelting company RTB Bor in December 2018, acquiring majority ownership, and renamed it to Zijin Bor Copper.
($ = 0.8821 euro)
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