RTB Bor copper mining and smelting complex was crucial for the country before the collapse of communist Yugoslavia. However, it later became a burden on the country’s struggling economy because of malpractices and international sanctions.
Serbia Mining News
In July, Belgrade invited bids for a partner to invest at least $350 million in debt-laden RTB Bor but did not say how big a stake it would offer in return.
The base metals producer said that, while it has not yet received a formal offer from Lundin, the bid announced Monday the bid ignores the fundamental value of the company and its assets.
Decision gives 18 months more than planned to the operation, which would result in additional production of 470 million pounds of zinc and 52 million pounds of copper during that period.
Nevsun, who declined the offer for the fourth time, said the proposal undervalued its Timok copper-gold project in Serbia and that junior Euro Sun was “not an attractive partner”.
Serbia has tried and failed three times since 2007 to sell the debt-laden mining complex.
Drilling results from Vancouver-based company's super high-grade Timok copper-gold project lifts market value to within sight of US$1 billion.
Eldorado Gold Corporation, ("Eldorado" or "the Company") is pleased to announce plans at four new exploration projects.
Cukaru Peki was one of the most interesting finds in recent years.
The joint venture with Freeport McMoran requires Freeport to fully fund the project through feasibility in exchange for a 75% interest.
Serbia's power utility EPS has signed a $715 million deal with a China Machinery Engineering Corp to build a coal fired power plant.
Government announced discovery of significant reserves of bullion and copper.
The Korkan mineral resource together with the Bigar Hill mineral resource, is estimated at 46,500,000 tonnes for 2,400,000 ounces of gold, using a 0.6 g/t gold cut-off.
Reservoir Minerals announces further drilling results from Timok Cu-Au project including 100 meters grading 4.31% CuEq and 204 meters grading 1.63% CuEq
Drilling results from Timok Cu-Au project include 100 meters grading 4.31% CuEq and 204 meters grading 1.63% CuEq.
"The actions of the petitioner (NMI) in planning to 'hide in the weeds' until the AGM appear to be aimed at preventing all shareholders from having notice and the opportunity to vote in a proxy contest."
The company, subject to regulatory approval, has granted an aggregate of 1,875,000 stock options to officers, employees and consultants. The options are exercisable at a price of $0.65.
The company has received approval from the Serbian government for its Borsko Jezero exploration license, the area is located within the highly prospective world class Timok Magmatic complex.
Vancouver's Pan Global Resources Inc (TSX-V:PGZ) added 20% on Wednesday on higher than usual trading volumes, after announcing it has intersected significant borate mineralisation at its Valjevo licence in Serbia.
Diamond drilling on the company's Timok Project in eastern Serbia has intercepted copper and gold mineralization, including 266 meters grading an average of 1.23% copper equivalent from 598 to 864 meters.
Subject to regulatory approval, it has granted an aggregate of 400,000 stock options to non-executive directors.
Avala Resources announces initial resource estimate for Bigar Hill, part of the Timok gold project, Serbia
The Bigar Hill mineral resource has been estimated at 38,000,000 tonnes grading an average of 1.3 g/t gold in the inferred resource category for 1,500,000 ounces of gold, using a 0.4 g/t gold cut-off.
Avala Resources Ltd. (TSX VENTURE:AVZ) (the "Company") wishes to announce that it has granted an aggregate of 4,860,000 stock options (the "Option") to directors, officers, employees and consultants of the Company and its Serbian subsidiary.
Ultra Lithium acquires 344 square kms of Serbian mineral concessions with lithium and boron potential
Posted by Editor Friday, 08 July 2011 Ultra Lithium Inc. (TSX VENTURE:ULI) ("the Company" or "Ultra") is pleased to announce that it has been granted four (4) additional lithium/boron exploration licenses (prospects) in the Republic of Serbia through its