BELGRADE (Serbia), February 28 (SeeNews) – Zijin Bor Copper, the Serbian unit of China's Zijin Mining Group, targets a profit of $8.5 million (7.7 million euro) this year, the metallurgy director of Zijin Bor Copper, Lan Shicong, has said.
"A series of measures will reduce the cost of copper cathodes from $649 to $600 per tonne in the first half of the year, down to $550 per tonne in the second six months," Shicong said in remarks published in the latest edition of Zijin Bor Copper corporate newsletter Kolektiv.
The company plans to process 437,000 tonnes of copper concentrate and produce 122,000 tonnes of anodes, 90,000 tonnes of cathodes, 370,000 tonnes of sulphuric acid, 1,833 kg of gold and 11.9 tonnes of silver in 2020.
Last year, Zijin Bor Copper produced 102,842 tonnes of anodes, 83,470 tonnes of cathodes, 1,452 kg of gold and 14,502 kg of silver, Shicong said
The Chinese group injected $350 million in the capital of Serbian copper mining and smelting company RTB Bor in December 2018, acquiring majority ownership, and renamed it to Zijin Bor Copper.
($ = 0.905986 euro)