China Zijin acquires Freeport copper-gold assets in Serbia
Nov 06, 2019 18:00
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Zijin Mining, one of China’s biggest gold producers, announced on November 4 that it had entered into a share purchase agreement with Freeport-McMoRan (Freeport) to buy the latter’s copper-gold assets in Serbia. With the completion of the acquisition, Zijin will own essentially 100% of both zones of the Timok copper-gold mine.
The Timok mine project is located in eastern Serbia, 5 kms from Bor, an administrative and mining centre, and approximately 245 kms from the Serbian capital, Belgrade.
Prior to this, Zijin had already bought 100% of the Timok Upper Zone and a final 46% interest in the Timok Lower Zone through