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China’s Zijin Mulls $3.8 Billion Expansion of Serbia Copper Mine

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Aug 30, 2023

China’s Zijin Mulls $3.8 Billion Expansion of Serbia Copper Mine

China’s Zijin Mining Group Co. is developing plans to expand its copper mine in eastern Serbia due to demand for the metal considered vital to the global energy transition — an effort that could cost

China’s Zijin Mining Group Co. is developing plans to expand its copper mine in eastern Serbia due to demand for the metal considered vital to the global energy transition — an effort that could cost billions of dollars.

The company openedBloomberg Terminal the Cukaru Peki copper and gold mine almost two years ago, with a $678 million investment allowing it to reach reserves a few hundred meters deep. Now it wants to drill down almost 2 kilometers (1.25 miles) to make the most of assets acquired in a takeover spree.