Zijin News - Serbia Zijin Copper Doo Bor achieved revenue of $222 million in the first quarter, up 87.39% year-on-year, while its earnings increased by 198% year-on-year. This makes Q1 2021 a quarter of strong results for the company.
Production and operation of its four copper mines, i.e. Jama, Majdanpek, Veliki Krivelj and New Cerovo, are going well. The mines’ production and technical indicators are steadily improving.
In line with its capacity enhancement plan, Serbia Zijin Copper Doo Bor is in the process of implementing various technical upgrading and expansion projects, along with new development projects, which include construction activities at the Jama copper mine.
Due to the disturbance caused to residents living in its vicinity by blasting vibration and noises from these activities, the company respected the order from the Ministry of Mining and Energy of Serbia, and halted construction at the Jama mine, with its existing production systems remaining operational. Given that the construction project will significantly boost the economic and social benefits of the Jama copper mine, Serbia Zijin Copper Doo Bor is working closely with the Government of Serbia, to advance the environmental impact assessment and other preparatory works for the project, in the hope of continuing with the construction activities.
In March 2021, relevant ministries of Serbia paid Serbia Zijin Copper Doo Bor visits, and proposed measures for further improvement, which will be completed by this week - two weeks ahead of the deadlines.
As a joint venture between Zijin Mining Group and the Republic of Serbia, Serbia Zijin Copper Doo Bor will work closely with all parties concerned, to ensure that it operates in a sound and high-quality manner, within the legal framework, and that it completes the technical upgrading and expansion projects efficiently.