Business Ecology Economy

Serbian government signs MoU with Chinese Zijin Mining; USD 3.8 bln in investment promised

Chinese mining group Zijin Mining signed a memorandum of understanding (MoU) with the Serbian government that will see it follow up on previous copper mining investments with plans to invest a total of up to USD 3.8 bln in Serbia.

The group will continue to invest in copper mining, but it also will invest in a 300 Mw solar farm, according to the MoU, which was signed by Serbian Minister of Energy Dubravka Djedovic, according to the Energy Ministry.

The company is already known for the Cukaru Peki copper mine in which it invested close to USD 680 mln. It also owns the copper mine company RTB Bor.

Djedovic noted that the investment will make Serbia one of the largest copper and gold producers in Europe. The MoU was signed during the One China, One Serbia Investment Forum.

Photo of Minister of Energy Dubravka Djedovic by USAID, Public domain, via Wikimedia Commons.

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