Čukaru Peki is a world-class copper-gold mine in Bor, Serbia, comprising an Upper Zone and a Lower Zone. The Upper Zone contains high-grade copper-gold ore lumps, while the Lower Zone is an ultra-large porphyry copper deposit.
In addition to Čukaru Peki, Zijin Mining operates another world-class copper asset in Serbia, the Bor Copper Mine. Their combined output was 240,000 tonnes of copper in 2023, making Zijin the second-largest copper miner in Europe.
The two mines in Serbia are undergoing de-bottlenecking and expansion, scheduled for completion by 2025. Once complete, their combined production capacity is expected to reach 300,000 tonnes per annum.
The Upper Zone, home to an ultra-high-grade copper deposit, is in production. Its processing plant is being upgraded, to increase throughput from 12,000 to 15,000 tonnes per day. Upon reaching nameplate capacity, the Upper Zone is expected to produce more than 90, 000 tonnes of copper and 2.5 tonnes of gold per annum, with potential peak outputs of about 150,000 tonnes of copper and more than 4 tonnes of gold.
Meanwhile, the Lower Zone will be developed through block caving, with prefeasibility studies completed and permitting currently underway.
Zijin Mining secured a 100% interest in the Čukaru Peki Copper-Gold Mine through two transactions in 2018 and 2019.
Committed to building Serbia’s first modern green mine, the Čukaru Peki project has implemented online, real-time water quality monitoring and has achieved zero discharge of industrial wastewater. It enhances local livelihoods through initiatives in local hiring, community infrastructure, healthcare, cultural activities, education, and community relations. Initiatives such as Healthy Drinking Water and For the Future education program have been implemented. More than 75% of its procurement is made locally.