Clarion Partners - Owner's Engineer

Swiss Glencore, Trafugure and Canadian Reservoir Mineral looking for Bor Smelter Basin

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After Swiss companies Glencore and Trafigure, the interest in processing gold concentrate from Coka Marin mine has also been expressed by Canada’s Reservoir Mineral Ink from Vancouver in its letter of intent addressed to the management of the Mining Smelter Basin (RTB) Bor.

According to that letter, the Canadians are also interested in co-exploitation of the underground copper and gold ore deposit Borska Reka, which is RTB Bor’s largest mining potential. The previous analyses have shown that the average content of copper in that ore deposit ranges between 0.8 and 1.2 percent, which is nearly five times more than in the basin’s ore deposits where mining works are already underway.

Nearly four million tonnes of copper can be obtained from Borska Reka mine, of which activation requires an investment of minimum EUR 150 million. In addition, this ore deposit also hides nearly 130 tonnes of gold and over 1,000 tonnes of silver, whereas previous researches prove that the content of copper and precious metals in that ore is even higher in deeper parts of that ore deposit.

Production doubled

Over the last three years, the production of gold from mines within RTB Bor has been doubled. In the first six months of this year, RTB Bor produced about 700 kilograms of that precious metal, and competent people expect the annual production of gold, of which price has recently hit the record high of USD 60,000 per kilogram, to soon reach the amount of two tonnes! 


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