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
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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% PGM’s
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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 (Čukaru Peki / Rakita
Potaj Čuka – 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…
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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
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• 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…
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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 može da bude održivo, već na tome
kako rudarstvo i eksploatacija mineralnih sirovina može doprineti održivom razvoju!
Fokus ne treba da bude na tome kako rudarstvo može da bude održivo, već na tome
kako rudarstvo i eksploatacija mineralnih sirovina može doprineti održivom razvoju!
www.serbiamining.rs
Thank you for your attention• Dragan Milosevic, mining engineer
• Terragold&co doo Belgrade
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