MINEX Forum

Tag: Serbia

  • DPM Metals to Relocate Ada Tepe Processing Plant to Serbia’s Čoka Rakita Gold Project

    DPM Metals to Relocate Ada Tepe Processing Plant to Serbia’s Čoka Rakita Gold Project

    DPM Metals Inc. (Dundee Precious Metals) has announced that processing equipment from its Ada Tepe gold mine in Bulgaria will be dismantled and relocated for use at the company’s Čoka Rakita gold project in eastern Serbia.

    According to the company’s latest quarterly report, ore processing at Ada Tepe will cease on 15 July 2026, following the final blasting activities completed in mid-April. After operations end, selected processing equipment will be dismantled, refurbished and prepared for installation at the Serbian project.

    DPM expects construction of the Čoka Rakita mine to begin in early 2027. Reusing proven processing infrastructure from Ada Tepe is intended to reduce capital costs, shorten development timelines and lower execution risks as the project advances toward production.

    Alongside the closure of the Bulgarian operation, the company said it will carry out mine rehabilitation in line with European environmental standards. Following reclamation, approximately 95% of the Ada Tepe site is expected to be returned to the Natura 2000 protected area network.

    In its second-quarter update, DPM also reported stable financial performance supported by higher gold-equivalent production from its operating Chelopech mine in Bulgaria and the Vareš operation in Bosnia and Herzegovina.

    The company noted that its strong financial position, supported by a share buyback programme that exceeded US$49 million during the quarter, provides a solid foundation for continued investment and project development across the Balkans.

    DPM Metals plans to publish its full operating and financial results for the second quarter after the close of trading on 30 July 2026.

  • EU Lawmaker Says Serbia’s Jadar Lithium Project Remains Frozen Amid Legal Uncertainty

    EU Lawmaker Says Serbia’s Jadar Lithium Project Remains Frozen Amid Legal Uncertainty

    The proposed Jadar lithium project in Serbia remains suspended due to legal and regulatory uncertainty, despite its strategic importance for Europe’s critical raw materials supply, according to European Parliament representative Hildegard Bentele.

    Speaking to Deutsche Welle, Bentele, a member of Germany’s Christian Democratic Union and rapporteur on critical raw materials policy in the European Parliament, said the project remains “frozen,” although mining major Rio Tinto continues to retain exploitation rights over the deposit.

    She noted that the project could play a significant role in strengthening Europe’s lithium supply chain while delivering economic benefits to Serbia, provided a stable and reliable legal framework is established. According to Bentele, Rio Tinto has indicated its intention to comply with environmental and social standards should regulatory conditions improve.

    The Jadar project, considered one of Europe’s largest lithium deposits, had previously been included on the European Union’s list of strategic raw material projects. Plans linked the development to potential downstream battery manufacturing investments, including earlier discussions involving German industry and automotive supply chains.

    However, Bentele stressed that lithium mining projects require predictable licensing systems and institutional stability, conditions she believes are currently lacking. She pointed to concerns over governance, judicial independence and public trust in state authorities as key factors contributing to the project’s suspension.

    The EU, she added, will not pressure Rio Tinto to resume development under present circumstances, describing continued investment as too risky without regulatory certainty. The company’s earlier decision to halt implementation in Serbia’s Jadar Valley was therefore understandable given public opposition and doubts surrounding permitting procedures.

    While acknowledging broader challenges in sourcing critical minerals globally, often located in politically complex jurisdictions, Bentele emphasised that Serbia’s status as an EU candidate country places importance on alignment with European governance and environmental standards.

    According to her assessment, the future of the Jadar project depends primarily on improvements to Serbia’s legal and institutional framework. Until then, the project remains suspended rather than permanently cancelled, leaving open the possibility of future development if regulatory stability is restored.

  • Bindi Metals Secures Approval for Maiden Drill Programme at Ravni Gold Project in Serbia

    Bindi Metals Secures Approval for Maiden Drill Programme at Ravni Gold Project in Serbia

    Australian explorer  has received approval from Serbia’s Ministry of Mining and Energy to commence its maiden drill programme at the Ravni high-grade gold project, located in the Raška mining district in southern . The approval remains subject to the completion of land access agreements.

    According to a filing with the Australian Securities Exchange, drilling activities will require agreements covering both privately owned land and government-managed forestry areas. Discussions with landholders and relevant authorities are ongoing and progressing in accordance with local regulatory requirements.

    Earlier this year, Bindi Metals reported high-grade gold and silver rock chip assay results from its mapping programme across multiple prospects at Ravni. Reported values included results of up to 48.7 grams per tonne gold, 22.8 grams per tonne gold, 181 grams per tonne silver, and 12.1 grams per tonne gold, highlighting the project’s exploration potential.

    Exploration at Ravni commenced in November following a binding agreement with Belgrade-based Red Creek, under which Bindi Metals can acquire up to an 80 percent interest in the project.

    The 30 square kilometre Ravni licence area lies within the Western Tethyan Magmatic Belt, a mineral-rich geological zone hosting several significant gold and copper deposits, including the Rogozna project in Serbia and the Vareš deposit in .

    Bindi Metals has already established a footprint in Serbia through the Lisa antimony-gold project and the Mutnica antimony-copper project, both acquired from  in 2024.

  • Strickland Metals Targets Major Growth with 70,000m Drill Campaign at Serbia’s Rogozna Gold Project

    Strickland Metals Targets Major Growth with 70,000m Drill Campaign at Serbia’s Rogozna Gold Project

    Strickland Metals has outlined an aggressive growth strategy for its Rogozna gold project in Serbia, positioning the asset as one of the largest undeveloped gold resources among ASX-listed explorers. The company plans to undertake a 70,000-metre drilling programme in 2026, the largest exploration campaign in the project’s history, ahead of delivering a Pre-Feasibility Study (PFS) in the first half of 2027.

    The Rogozna project currently hosts a total resource of 8.6 million ounces of gold equivalent (AuEq) across four defined deposits, representing a 58% increase from the 5.4 million ounces announced in 2024. The deposits include Gradina, Shanac, Medenovac and Copper Canyon, with Shanac accounting for the largest share at 5.3 million ounces AuEq. Gradina stands out for its higher grade, hosting 1.2 million ounces at 3.0g/t AuEq, offering strong underground mining potential with recoveries of around 90% through conventional flotation.

    Strategic validation has come from Zijin Mining, which holds a 4% stake in Strickland. Zijin is already the largest mining operator in Serbia, and its investment provides both technical endorsement and regional credibility.

    Serbia’s mining jurisdiction is considered favourable, located within the Western Tethyan Belt and home to multiple large porphyry systems. The country is Europe’s third-largest copper producer, with mining contributing approximately 2.7% of GDP. Major international operators including Rio Tinto and BHP are present in the country, reinforcing its status as an established mining destination.

    Recent drilling has delivered two new discoveries within 15 months. At Red Creek, located near Shanac, drilling returned intercepts including 53 metres at 2.3g/t AuEq. At Kotlovi, west of Medenovac, results included 277.3 metres at 1.3g/t AuEq. Both zones remain open in multiple directions, suggesting further resource growth potential.

    In February 2026, Strickland completed an oversubscribed A$55 million institutional placement, lifting its cash position to A$68.2 million and increasing institutional ownership to 38%. The company is fully funded through PFS completion in H1 2027, supporting both the large-scale drilling programme and ongoing technical studies.

    The 2026 programme will include resource expansion drilling, scoping studies, additional discovery testing across the 184km² licence area and porphyry exploration. Multiple resource updates are expected through late 2026, culminating in PFS delivery in early 2027.

    With a current market capitalisation of approximately A$592 million, the company trades at roughly US$49 per contained ounce of gold equivalent. The scale of the resource base, ongoing exploration success and strategic backing position Rogozna as one of the most significant gold development projects among ASX-listed companies.

  • Strickland Delivers First Resource for Gradina at Rogozna

    Strickland Delivers First Resource for Gradina at Rogozna

    Strickland Metals has released the first Mineral Resource Estimate (MRE) for the Gradina deposit at its Rogozna project in Serbia, defining 12 million tonnes at 3.0 g/t gold, equivalent to 1.2 million ounces of contained gold. Gradina is one of four large-scale gold and base metals deposits identified at Rogozna and was the last to receive a formal resource.

    The Rogozna project also includes the Shanac (5.30 Moz AuEq), Medenovac (1.28 Moz AuEq), and Copper Canyon (0.81 Moz AuEq) deposits. Strickland said it plans to publish an updated resource for Shanac in the first quarter following its 2025 drilling campaign, which continues to indicate both bulk-tonnage and higher-grade mineralisation potential.

    During 2025, the company completed its largest drilling programme at Rogozna to date, with 79 holes for 46,737 metres. For 2026, Strickland plans to increase drilling to 60,000 metres, a 20% rise year-on-year. In parallel, the company is advancing internal scoping work and pre-feasibility study scenarios, targeting delivery of a pre-feasibility study in the first half of 2027.

    Strickland acquired Rogozna in July 2024 through the $37 million (€31.5 million) purchase of Betoota Holdings, which owns the project via its Serbian subsidiary Zlatna Reka Resources.

  • Đilas claims Rio Tinto preparing €1–1.5 billion compensation claim against Serbia over Jadar lithium project

    Đilas claims Rio Tinto preparing €1–1.5 billion compensation claim against Serbia over Jadar lithium project

    Rio Tinto is preparing to file a compensation claim against the Republic of Serbia worth between €1 billion and €1.5 billion over the halted lithium mining project in the Jadar Valley, according to Dragan Đilas, president of the opposition Freedom and Justice Party.

    Speaking on the podcast Dežurni krivac, Đilas said the mining company intends to sue Serbia for costs incurred and lost profits after the government abandoned plans for lithium extraction. He argued that commitments made by senior state officials, including President Aleksandar Vučić and former Prime Minister Ana Brnabić, form the basis of the claim.

    Đilas stated that Rio Tinto allegedly received both written and verbal assurances regarding the project’s implementation, stressing that verbal agreements are legally binding in the same way as written ones. According to him, the public is still unaware of the exact guarantees provided by state leadership, which allowed the company to begin exploration, planning, and investment activities.

    He further claimed that once the lawsuit is formally announced, the authorities will shift responsibility onto citizens who protested against lithium mining. Đilas rejected this narrative, saying public opposition was clear, with more than 80% of citizens reportedly against the project.

    The opposition leader accused the country’s leadership of exceeding their authority and violating laws by promising lithium production to international partners, only to later withdraw those commitments. He warned that Serbia could ultimately bear the financial consequences, potentially amounting to hundreds of millions or even more than a billion euros.

    Đilas concluded that the situation reflects broader political risks, arguing that unfulfilled promises to foreign partners could result in additional financial claims against the state in the future.

  • Serbia adopts draft minerals strategy for 2025–2040, sets focus on sustainability and critical raw materials

    Serbia adopts draft minerals strategy for 2025–2040, sets focus on sustainability and critical raw materials

    The Serbian government has adopted a draft Strategy for the Management of Mineral and Other Geological Resources for the period from 2025 to 2040, with projections extending to 2050, sending the document to the National Assembly for a final vote. The strategy aims to balance economic development with environmental protection while strengthening state oversight and ensuring a stable supply of critical and strategic raw materials.

    Minister of Mining and Energy Dubravka Đedović Handanović said the strategy was shaped through a lengthy and at times contentious public consultation process, during which dozens of objections and proposals were fully or partially incorporated. Although the final text has yet to be published, the government confirmed that sustainability, climate neutrality, and the use of energy-efficient and low-carbon technologies are among its central pillars.

    According to the Ministry of Mining and Energy, the strategy establishes a long-term framework for responsible resource management, enhanced planning and supervision, and improved governance of the mining and geology sector in the interests of citizens and local communities. Particular attention is given to critical and strategic raw materials, geothermal energy, and the rational use of natural resources.

    An accompanying environmental impact assessment notes that Serbia has significant deposits of metallic, non-metallic, and energy raw materials, as well as groundwater and geothermal resources. At the same time, it acknowledges that decades of mining have led to air, water, and soil pollution, especially in areas such as Bor and Majdanpek, as well as the Kolubara and Kostolac lignite basins. The report also highlights abandoned mines, tailings dumps, and obsolete facilities as a major challenge requiring remediation and rehabilitation.

    Đedović Handanović said the strategy defines concrete programmes to secure raw material supplies for domestic companies and the energy system, create jobs, increase the participation of Serbian industry in value chains, reduce import dependence, and strengthen economic stability. She added that strict environmental and safety standards, along with transparent planning and decision-making processes, are intended to protect protected areas, improve workplace safety, and reduce risks to public health and quality of life.

  • Germany Moves to Secure Bolivian Lithium as Serbia’s Jadar Project Stalls

    Germany Moves to Secure Bolivian Lithium as Serbia’s Jadar Project Stalls

    Germany is accelerating efforts to secure long-term lithium supplies from Bolivia while exploring domestic mining options, even as Rio Tinto’s Jadar project in Serbia remains effectively dormant. Ahead of his visit to La Paz, Germany’s Foreign Minister Johann Wadephul emphasized Bolivia’s strategic importance, calling its vast lithium and rare earth reserves “indispensable” for Germany’s energy transition and electric mobility sectors.

    Wadephul is one of the first foreign officials to engage with Bolivia’s newly elected president Rodrigo Paz Pereira, stressing Germany’s readiness to strengthen cooperation and support the country’s economic recovery. Bolivia holds the world’s largest lithium reserves, but previous governments strictly limited foreign participation in mining projects.

    Germany’s intensified outreach comes as competition for lithium and rare earths escalates globally amid China’s market dominance and ongoing US–China trade tensions. Berlin has also indicated it may tap its national raw materials fund to support domestic lithium extraction projects, including those based on geothermal brines.

    Meanwhile, Rio Tinto’s Jadar project in Serbia—once seen as a cornerstone of Europe’s lithium supply strategy—has made little progress despite receiving strategic backing from the EU and Germany in 2024. Political instability in Serbia has slowed development, with officials now estimating that the environmental impact assessment will take at least 18 months to complete. Final approval remains uncertain, leaving Europe’s long-term battery supply ambitions in limbo.

  • Mundoro Expands Strategic Partnership with BHP in Serbia’s Timok Copper District

    Mundoro Expands Strategic Partnership with BHP in Serbia’s Timok Copper District

    Mundoro has strengthened its long-running collaboration with BHP through a new option agreement covering seven exploration licences in Serbia’s Timok Magmatic Complex, one of the world’s premier copper districts. Announced on 13 October, the deal allows BHP to earn 100% ownership of the Central Timok Project over ten years by investing US$35 million in exploration.

    Under the terms, Mundoro will retain a 2% NSR royalty upon full earn-in, while also receiving escalating annual option payments that start at US$323,000. The company will operate the project during the exploration phase and collect annual operator fees.

    CEO Teo Dechev said the expanded partnership reflects the quality of Mundoro’s portfolio and builds on more than a decade of operational experience in the region. She emphasized that combining Mundoro’s local geological expertise with BHP’s global porphyry exploration capabilities will strengthen targeting strategies and improve the chances of making new copper discoveries in eastern Serbia.

    Alongside ongoing work in Serbia and the United States, Mundoro continues to pursue new project-generation opportunities aimed at long-term value creation for shareholders.

  • Rio Tinto Mothballs Controversial $2.95bn Jadar Lithium Project in Serbia

    Rio Tinto Mothballs Controversial $2.95bn Jadar Lithium Project in Serbia

    The Rio Tinto Group has placed its contested $2.95-billion Jadar lithium project in Serbia into “care and maintenance”, according to an internal memo this week. The move, confirmed by a company spokesperson, effectively halts active development on what was slated to be Europe’s largest lithium mine, capable of supplying an estimated 90% of the continent’s current lithium demand.

    Key Takeaways and Context

    The decision is a direct consequence of a “lack of progress in permitting” and sustained fierce local opposition and political volatility in Serbia. CEO Simon Trott’s focus on simplifying the company’s sprawling portfolio and cutting spending also played a role, especially given the project’s high capital allocation with no immediate production in sight.

    What does “Care and Maintenance” mean for Jadar?

    “Care and maintenance” is a mining industry term for a temporary suspension of operations. It means that while the site is not actively being developed, it is being managed to ensure it remains in a safe, stable, and environmentally compliant condition so that operations could be recommenced at a later date if regulatory, economic, or social conditions improve.

    Rio Tinto reiterated that it “remains in Serbia” and continues to view Jadar as an “exceptional quality” deposit with the potential to play a “significant role in the energy transition” of Serbia and Europe. Their immediate focus will be on supporting employees and fulfilling legal obligations as responsible landowners in the Jadar valley.

    🇪🇺 Critical Hit to EU’s Raw Materials Strategy

    The mothballing of Jadar is a significant setback for the European Union’s ambitions for self-sufficiency in key battery metals, as outlined in the Critical Raw Materials Act (CRMA).

    • Strategic Project Loss: Jadar was designated as one of the EU’s few Strategic Projects outside of its borders, specifically for lithium. At its estimated full capacity of 58,000 tonnes of lithium carbonate annually, it was considered a cornerstone for establishing a secure, diversified, and domestic European battery supply chain, reducing reliance on dominant suppliers like China.
    • A Warning on Governance: The project’s failure underscores a critical dilemma for the EU. As Peter Tom Jones highlights, attempts to increase self-sufficiency through projects in third countries must not lead to “uncritical support for autocratic regimes”. The sustained local opposition, environmental concerns, and political instability in Serbia—an EU candidate country—demonstrate that effective governance and a democratization process are as critical as the resource itself.
    • Alternative Lithium Projects: The focus will now intensify on accelerating other European lithium projects, such as those in Portugal, France, and Finland, to meet the CRMA’s targets.

    This situation calls for the EU to demand robust ecological and social standards—potentially through collaboration with third-party verification bodies like the Initiative for Responsible Mining Assurance (IRMA)—to rebuild confidence in such projects in the Western Balkans and beyond.