China-based mining group Zijin’s subsidiary Zijin Bor Copper at Serbia has initiated construction project of an electrolytic copper refining plant, according to the media reports. The annual production capacity of the plant would be 200,000mt of copper cathodes. The construction process began on May 18 with an initial investment of $65mn.
The new plant would have 456 electrolytic cells with each having a holding capacity of 55 anodes and 54 cathodes. The new plant is likely to be cost-effective with low consumption of energy and higher output.
The company is likely to invest $800mn for the expansion process in 2020 and 2021. The company looks to use this investment for the reconstruction of the existing infrastructure and open new mines to ramp up the copper smelter in Bor.
Zijin Mining acquired 63pc of equity interest in Bor Serbia in December 2018. It was later renamed as Zijin Bor Copper.