British miner Mineco has invested in another lead and zinc mine in Serbia, according to local media. The company continues to invest in mining in Serbia’s Raska area.
Mineco has mining operations in Western Balkan regions and has now acquired Serbian player, Vavrina Resources. The acquisition would result in the renewal of the production of non-ferrous metal ore concentrate, which was once performed by the Suva Ruda mine in Raska.
Vavrina Resources owns the mining land for the production of lead and zinc concentrates in southern Serbia. Mineco acquired the mine from liquidation process of the Suva Ruda mine, said Mineco.
Mineca director Bojan Popovic says that the former mine, which was closed and neglected during the previous owner, used to employ between 250 and 350 people from the Raska area and was a significant factor for the economic development of this area.
Mineco currently, independently or with partners, owns three active non-ferrous metal mines in Serbia; Rudnik which has capacity of 240,000mt per annum of ores producing lead, zinc and copper, Veliki Majdan with an annual capacity of 50,000mt and Bosilegrad with 240,000mt production target.