IOC 2025 Gold donor
Serbia Zijin Copper DOO is a Chinese-Serbian company operating as part of the Zijin Mining Group. The company was founded on December 18, 2018, and on the same day Zijin signed the final agreements with the Government of the Republic of Serbia, acquiring a 63% ownership in RTB Bor. Zijin became the holder of 63% of the company’s capital, while the Republic of Serbia retains the remaining 37%. The initial investment planned by Zijin for this project was $1.26 billion, but by the end of April 2025, the total investment reached $3.267 billion.
The company operates four copper mines (“Veliki Krivelj,” “Novo Cerovo,” “Jama,” and “Majdanpek”), a Limestone Mine, the “Quarry” Plant, and a Smelter. As of December 2024, Serbia Zijin Copper’s resources amount to 8,934,000 tonnes of copper ore with an average grade of 0.39% metal per tonne, and 345 tonnes of gold ore with an average grade of 0.151 grams per tonne. Of this total, the proven reserves within the planned mining boundaries include 6,097,000 tonnes of copper ore with an average grade of 0.421% metal per tonne, and 228 tonnes of gold ore with an average grade of 0.16 grams per tonne.
Between January and December 2024, Serbia Zijin Copper produced a total of 125,221 tonnes of copper in the concentrate, 2,674 kilograms of gold, 23,305 kilograms of silver, as well as 163,722 tonnes of cathode copper..
Since taking ownership of the former RTB Bor until the end of December 2024, Serbia Zijin Copper produced a total of 487,868 tonnes of copper in the concentrate and 12,405 kilograms of gold. The company contributed $701 million in various taxes and fees, ranking among the top corporate taxpayers in this category. In addition, Serbia Zijin Copper collaborates with more than 1,800 local suppliers, with the total value of procured goods and services exceeding $3 billion. Indirectly, this has led to the creation of over 9,000 jobs.
Serbia Zijin Copper currently employs approximately 6,000 people. The average monthly net salary of its workers exceeds 165,000 dinars, which represents a 144% increase compared to the average net income in 2018. Salaries of employees at Serbia Zijin Copper are significantly above the local per capita income and are 57.5% higher than the national average in Serbia. Since assuming management, the company has created more than 3,300 new jobs in Bor and Majdanpek, primarily for young people, making it one of the most important contributors to the economic growth of both cities. Additionally, a large number of new job opportunities for local residents has played a key role in maintaining social stability in the region.
In compliance with Serbian laws and regulations on safety and environmental protection, Serbia Zijin Copper has made significant efforts over management to investigate and resolve historical issues in these areas. These activities have led to substantial improvements in overall safety and environmental standards. The company’s safety operations are based on the concept “life comes first,” and to effectively improve the enhance the immediate working environment, it has introduced modern facilities and equipment. Between January and December 2024, the incident rate per million working hours was 0.27. At the same time, $270 million was invested to enhance environmental protection and ecology. A wide range of measures were undertaken to address issues related to dust, waste, flue gases, and wastewater, resulting in significant improvements. In line with efforts to develop to develop green mines and achieving harmony between mining operations and environmental protection, more than 3.7 million square meters of land have been greened and over 1.2 million seedlings have been planted. Furthermore, 958,390 tons of non-hazardous waste and around 3,200 tons of hazardous waste were properly disposed of.
As a socially responsible company, Serbia Zijin Copper pays great attention to the sustainable development of the environment in which it operates and provides almost daily support to the local governments of Bor and Majdanpek. It continuously implements a package of plans for the joint development of local communities and conscientiously fulfills its corporate obligations. The company supports numerous cultural, educational, healthcare, tourism, and sports institutions and events, demonstrating in a direct and concrete way that it is a driving force behind the development of the Timok region and Serbia.
By the end of April 2025, Serbia Zijin Copper had carried out 312 donations and allocated around 10 million US dollars to improve healthcare, transport infrastructure, education, sports, traditional arts, entertainment for children, and other areas in Serbia.
Serbia Zijin Copper DOO
Đorđa Vajferta Street 29
19210 Bor, Serbia
zijinbor@zijinbor.com
www.zijinbor.com