Zijin are now following Xandu’s Kharmagtai playbook. They are...

Zijin are now following Xandu’s Kharmagtai playbook. They are about to drill 2km deep holes at Cukara Peki mine in Serbia too, targeting expansion.

Very interesting move! 2km deep holes at Kharmagtai must be showing great results to nudge Zijin into doing same same for their Serbia mine.

Seems knowledge sharing between Xandu and Zijin is a win win. I can't see Zijin making bid for XAM anytime soon. Or maybe once Xanadu show where all the deep mineralisation is, the bid will be on table. Yon never never know in this game.

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Zijin has invested $678m to develop the Cukaru Peki mine, which was commissioned in 2021.

The Chinese company now intends to undertake drill work at the project to depths of almost 2km.

Serbian official at the mine Branko Rakocevic was quoted by the news agency as saying: “These are vast reserves, which require additional infrastructure, additional investment of around $3.5bn to $3.8bn.”

The company’s proposed plan at the Cukaru Peki site includes road construction and the expansion of power supply and flotation facilities.

Located in Bor, the Cukaru Peki mine is estimated to hold 2.2 million tonnes (mt) of copper at the lower zone, at depths exceeding 460m.

Rakocevic said the deposits of the mine at the upper zone could be exhausted at around 2034 while the deeper operation is anticipated to start in seven to ten years.
https://www.mining-technology.com/news/zijin-investment-serbian-copper/