Bor, Serbia – Milica Mladenović, a senior geologist at Serbia Zijin Copper, never thought her life would change so much for the better after Zijin invested in Serbia’s Bor Copper Complex and became its operator in 2018.
The copper mining complex was once the economic backbone of Bor, an old mining town. But by late 2018, after years of losses, the operation’s workforce’s dropped from the peak of 25,000 in the 1980s to just 4,972. This ground Bor’s development to a halt, forcing young people to seek opportunities elsewhere.
Milica Mladenović, a mother, was one of them. “I had to go abroad to better provide for my family and fulfill my career aspirations,” she recalled. So she went to work at mine sites in South America. But she missed her family, and during these moments, she felt sad.
Significant Population and Salary Growth
In 2018, Zijin acquired a controlling stake in RTB Bor, a century-old state-owned enterprise that operated the Bor Copper Complex. The acquired company was later renamed Serbia Zijin Copper, which turned the complex from a loss-making asset into a profitable operation in just one year, breathing new life into Bor.
Mladenović was among the first to seize the opportunity. She joined Serbia Zijin Copper and returned home. “I found a great balance between work and family life at Zijin and could dedicate myself fully to both,” she said. She found not only a huge platform for her professional skills but also the warmth and comfort of being close to her family. Her story is echoed across Bor. Young professionals who once left home for work elsewhere have been making their way back, bringing Bor renewed vitality.
Within 2,500 days of Zijin’s arrival, Bor’s population has climbed to nearly 50,000, with roughly one in four employed in the upstream and downstream industries of copper mining. Most local households benefit directly or indirectly from the revitalized mining activities.
Today, Zijin has become a significant driver of the Serbian economy. Its two mining operations in the country now contribute approximately 3% of Serbia’s GDP.
Serbian President Aleksandar Vučić has publicly recognized Zijin’s transformative role. During a visit to the Bor Copper Complex, he noted that tax revenue derived from mineral resources has tripled since Zijin’s expansion into Serbia. The company has become one of Serbia’s largest exporters, making remarkable contributions in terms of growth and jobs.
The economic benefits are most evident in local paychecks. As of late October 2025, Serbia Zijin Copper directly employs nearly 6,000 workers, 97% of whom are Serbian. Over the past seven years, the company has hired 3,376 new local workers and promoted 832 local employees, training local professionals while building a strong talent pipeline.
The average monthly salary at the company is 51% higher than Serbia’s national average and 2.42 times the level before Zijin’s entry into Bor. With an annual salary growth of 16% over the past seven years, employee satisfaction continues to grow. “Back in 2018, we made just 68,160 dinars a month on average,” said Igor Mišković, a local employee. “Now most of our co-workers’ salaries have more than doubled, far above the national average. I couldn’t be happier working here.”
Pursuing Development for All
Zijin’s commitment to Bor goes beyond operational success. Driven by its mission of “Mining for a Better Society”, the company has made substantial investments in community development to ensure local residents share its growth.
Through its Zijin-Bor-Majdanpek Joint Development Initiative, the company has invested US$9.1 million in 366 community projects spanning infrastructure, public services, education, healthcare, culture, sports, and poverty alleviation. Key programs include the “Beautiful Community” initiative, the “For The Future” education program, the “Health Guardian” medical initiative, and the “Safe Drinking Water” project—all delivering significant positive impacts.
About Zijin Mining
Zijin Mining is a leading global metals and mining company and one of the world’s largest producers of gold, copper, and zinc. The company has more than 30 large-scale mining operations and projects across 19 countries on 5 continents. Leveraging strong in-house research, engineering, and development capabilities, Zijin maintains high operational efficiency and low costs in both acquisitions and operations. This enables the company to be an industry leader in value creation, underpinned by its philosophy of pursuing development for all and sustained by superior environmental, social, and governance performance. Zijin’s shares trade on the Hong Kong Stock Exchange (HKEX: 2899) and the Shanghai Stock Exchange (SSE: 601899).