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Dragan Milosevic

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  • Current exploration

    6th International Conference on Mineral Resources in the Republic of Serbia

    A DRIVING FORCE FOR ECONOMIC DEVELOPMENT

    www.serbiamining.rs

    Current explorationin Serbia

    exploration activities

    International Conference on Mineral Resources in the Republic of Serbia

    A DRIVING FORCE FOR ECONOMIC DEVELOPMENT

    exploration activitiesSerbia

  • OCCURRENCES

    (INDUSTRIAL MINERALS) AND MINERAL OCCURRENCES

    www.serbiamining.rs

    2000 METALLIC MINERAL DEPOSITS AND MINERAL OCCURRENCES

    2500 NON-METALLIC MINERAL DEPOSITS (INDUSTRIAL MINERALS) AND MINERAL OCCURRENCES

    46 COAL BASINS

    13 bituminous coal (2 in exploitation)

    GEOLOGICAL INFORMATION SYSTEM OF SERBIA

    33 brown coal (11 in exploitation)

    250 OIL AND GAS DEPOSITS, 90 OIL AND GAS FIELDS,

    4 OIL SHALE BASINS - 14 OIL SHALE DEPOSITS

    http://geoliss.mre.gov.rs/

  • www.serbiamining.rs

    CRM map

  • www.serbiamining.rs

    CRM in SerbiaSerbia

  • Criticalraw material

    Major suppliers (>20%) Criticalraw material

    Antimony China, 87% Magnesite

    Beryllium USA, 90% Magnesium

    BoratesTurkey, 38%

    USA, 30%Natural Graphite

    ChromiumSouth Africa, 43%

    Kazakhstan, 20%Niobium

    Cobalt DRC, 56% PGMs

    www.serbiamining.rs

    Coking Coal China, 94% Phosphate Rock

    Fluorspar China, 56% REE (Heavy)

    Gallium China, 69% REE (Light)

    Germanium China, 59% Silicon Metal

    Indium China, 58% Tungsten

    CRM has identified several critical minerals needed for sustainable development.

    EU

    Critical

    raw materialMajor suppliers (>20%)

    China, 69%

    China, 86%

    GraphiteChina, 69%

    Brazil, 92%

    South Africa, 61%

    Russia, 27%

    Critical

    raw

    materials

    Phosphate RockChina, 38%

    China, 99%

    China, 87%

    China, 56%

    China, 85%

    CRM has identified several critical minerals needed for sustainable development.

  • Exploration activities in last 1

    50

    44

    35

    Exploration activities

    www.serbiamining.rs

    16

    97

    4

    35

    26

    73

    AU (+CU) CU (+AU) LI + B PB-ZN MO

    2003-2009 2010-2015

    Exploration activities in last 13 years

    Commodity 2003-2009 2010-2015

    Au (+Cu) 50 44

    Cu (+Au) 16 35

    Li + B 9 26Li + B 9 26

    Pb-Zn 7 7

    Mo 4 3

    Sb 6 3

    63

    SB

  • Current exploration activities

    Cu 43

    Au - 47

    www.serbiamining.rs

    Pb Zn 22

    http://gis.mre.gov.rs/Srbija/

    Current exploration activities active licensees

    Fe 4

    Sb 3

    http://gis.mre.gov.rs/Srbija/

  • SIGNIFICANT MINERAL POTENTIAL

    Porphyry copper and massive sulphide (Exploration)

    Sediment-hosted gold deposit (PotajResources)

    www.serbiamining.rs

    Resources)

    Lithium-Boron deposit (Jadar basin /

    Pb Zn deposits (Suva Ruda, West Serbia

    POTENTIAL OF SERBIA

    Porphyry copper and massive sulphide (ukaru Peki / Rakita

    Potaj uka Tisnica / Avala

    Boron deposit (Jadar basin / Rio Tinto)

    Serbia)

  • Potential for new world class projects

    SUVA RUDA Pb Zn polymetallic

    WEST SERBIA Pb Zn polymetallic

    EAST SERBIA Cu Au

    www.serbiamining.rs

    EAST SERBIA Cu Au

    Borates

    Lithium

    Potential for new world class projects

    polymetallic

    polymetallic

  • 2015/16 new moments

    RIO TINTO LENOVAC

    ELDORADO GOLD KMC PROJECT

    JOGMEC TIMOK NORTH PROJECTS

    www.serbiamining.rs

    JOGMEC TIMOK NORTH PROJECTS

    TETHYAN RESOURCES SUVA RUDA

    moments in exploration

    Au

    KMC PROJECT Cu Au

    TIMOK NORTH PROJECTS Cu AuTIMOK NORTH PROJECTS Cu Au

    SUVA RUDA Pb Zn

  • Rio Tinto - Lenovac expenditure of $1 million by December

    expenditures of $2 million by December

    expenditures of $5 million by December

    www.serbiamining.rs

    expenditures of $32 million prior to December

    December 31, 2016

    December 31, 2017

    December 31, 2019

    December 31, 2023

  • ELDORADO GOLD - KMC Drill plan for 2016 7500 m * 100 = 750.000

    Laboratory

    Other geological works

    www.serbiamining.rs

    KMC PROJECT= 750.000

  • JOGMEC - TIMOK NORTH PROJECTS Expenditure of US$1 million within one

    Expenditure of US$2 million within the

    Funding the completion of a Feasibilityanniversary of the Agreement (March

    www.serbiamining.rs

    anniversary of the Agreement (March

    NORTH PROJECTSone year (March 7, 2017)

    the second year (March, 2018)

    Feasibility Study by the eighthMarch 7, 2024)March 7, 2024)

  • TETHYAN RESOURCES - completing at least 2,000 metres of drilling on the licence before

    December 28, 2016

    drilling at least a further 5,000 metres before December 28,

    completing a preliminary economic assessment within six years of

    www.serbiamining.rs

    completing a preliminary economic assessment within six years of the agreement being signed, 2022

    completing an economic feasibility study within seven years of the agreement being signed, 2023

    SUVA RUDAcompleting at least 2,000 metres of drilling on the licence before

    drilling at least a further 5,000 metres before December 28, 2018

    completing a preliminary economic assessment within six years of completing a preliminary economic assessment within six years of

    completing an economic feasibility study within seven years of the

  • Financial projection

    2016 2017 2018 2019

    Rio Tinto 1,000,000 2,000,000 5,000,000

    Eldorado gold 1,000,000

    JOGMEC 1,000,000 2,000,000

    www.serbiamining.rs

    JOGMEC 1,000,000 2,000,000

    Tethyan

    Resources 500,000 1,000,000

    TOTAL 3,500,000 5,000,000

    2019 2020 2021 2022 2023

    32,000,000

  • What this means for local economic growth? Consulting companies

    Geological companies

    Drilling companies

    www.serbiamining.rs

    Laboratory

    Earthworks companies

    Survey service

    What this means for local economic growth?

  • NEW MINING LAW

    LAW ON GEOLOGICAL EXPLORATION AND MINING HAS 2015

    Exploration timeframe is 8 years (3+3+2 years + 2 for significant find in last

    exploration year)

    www.serbiamining.rs

    Reservation of exploration area for next phase up to 2 years

    Expropriation of the land for private investors is enabled

    SECURITY OF TENURE

    Fastest permitting procedures

    HAS ADOPTED AT THE END OF

    Exploration timeframe is 8 years (3+3+2 years + 2 for significant find in last

    Reservation of exploration area for next phase up to 2 years

    Expropriation of the land for private investors is enabled

  • www.serbiamining.rs

    Fokus ne treba da bude na tome kako rudarstvo moe da bude odrivo, ve na tome

    kako rudarstvo i eksploatacija mineralnih sirovina moe doprineti odrivom razvoju!

    Fokus ne treba da bude na tome kako rudarstvo moe da bude odrivo, ve na tome

    kako rudarstvo i eksploatacija mineralnih sirovina moe doprineti odrivom razvoju!

  • www.serbiamining.rs

    Thank you for your attention Dragan Milosevic, mining engineer

    Terragold&co doo Belgrade

    [email protected]

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