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Zijin Mining Pledges $3.8 Billion Investment in Serbia

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Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović, has inked two memoranda of understanding with China’s Zijin Mining Group in Xiamen, signifying the company’s ongoing investment commitment in Serbia.

The first memorandum concerns the development of the Čukaru Peki mine’s Lower Zone, in which Zijin Mining confirms an additional $3.8 billion investment in Serbia. The second outlines the development of a 300 MW solar power plant to serve the company’s energy needs.

“With the memoranda ensuring $3.8 billion in new investments, Serbia will rank amongst Europe’s top copper producers and leading gold producers. This also paves the way for further investments, ensuring adherence to the highest environmental standards. Furthermore, Zijin Mining’s $200 million investment in the solar plant signifies the synergy between renewable energy and mining, promoting environmental protection by reducing reliance on coal and fossil fuels,” stated Minister Đedović.

These agreements were concluded during the “One China, One Serbia” Investment Forum, held as part of the 23rd China International Fair for Investment & Trade, where Serbia was the honorary guest.

Closing the forum, the Minister highlighted Zijin Mining as a cornerstone of Serbian-Chinese collaboration and emphasised that these memoranda mark the dawn of an even more enhanced relationship.

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Đedović also extended an invitation to other Chinese firms to invest in Serbia, reminding them of Serbia’s reputation as a rising star in foreign direct investments, which have surged from $1 billion to $4.4 billion from 2012 to 2022.

During her visit to China, Minister Đedović also toured Zijin Mining’s mine and smelter facilities in Shanghang County.

Photo: mre.gov.rs

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