Zijin Bor Copper, the Serbian offshoot of Chinese holding Zijin Mining Group, has decided to drop its rights to explore lead, zinc, copper, silver, and gold in the Kosmaj mountain near Serbia’s capital Belgrade.
The Serbian Ministry of Energy canceled Zijin Bor Copper’s explora-tion rights at the firm’s own request, the country’s government said in a statement. The Chinese group did not disclose the reasons behind its decision.
The exploration rights were assigned to Balkan Exploration and Min-ing in 2012, and later passed on to Zijin Bor Copper after changes in the company’s ownership structure, according to the information ob-tained by local news site Seenews.com.
Zijin Mining Group says it is focused on the exploration and develop-ment of gold, copper and other mineral resources. The holding oper-ates mining investment projects in 12 countries across the world and 14 provinces in the People’s Republic of China.