China’s Zijin Mining Group has announced plans to launch an investment worth some $474 million to open the Serbia-based Čukaru Peki upper zone mine of the Timok copper-gold project in the second half of 2021.
The Serbian project is to allow the Chinese holding to produce some 200,000 tonnes of copper per year, according to the information obtained by local news site SEENews.com.
The Timok project is located in Serbia’s eastern part. The asset is divided into The the upper zone, Čukaru Peki, and the lower zone.