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Zijin Bor Copper to invest $1.9 bln in next six years

Author Radomir Ralev
Zijin Bor Copper to invest $1.9 bln in next six years Source: Serbian Energy Ministry

BELGRADE (Serbia), July 16 (SeeNews) - Zijin Bor Copper, the Serbian unit of China's Zijin Mining Group, plans to invest $1.9 billion (1.6 billion euro) in the next six years, more than initially planned, the Serbian government said.

"Although the Strategic Partnership Agreement with the Republic of Serbia specified that Zijin Bor Copper will invest $1.26 billion in the next six years, I am pleased to announce that the total investment in the planned period will exceed that amount and reach $1.9 billion," general director Jian Ximing said on Thursday, according to a statement by the Serbian government.

In the last two and a half years, Zijin Bor Copper generated sales revenue in the amount of $1.708 billion, Ximing said.

The company produced 30,100 tonnes of cathode copper in the first half of 2021, up 11.83% on the year, while sales revenue grew 76.91% on the year to $492 million, he added.

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.

($ = 0.8474 euro)

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