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Agreement on granting concessions for research and exploitation of Crni Vrh signed
Belgrade,
26 April 2006
Serbian Minister of Energy and Mining Radomir Naumov and President of Dundee Precious Metals Jonathan Goodman today signed an agreement on granting concessions to this Canadian company for research and extraction of copper, gold and other metals in the territory of Crni Vrh near Bor - Coka Kuruga, Coka Kupjatra and Tilva Njagra.
Jonathan Goodman, left, and Radomir Naumov after signing the agreement
Naumov told a press conference that the agreement is signed for a period of 30 years – of which five years will be spent on geological research and 25 for exploitation. He pointed out that Serbia will have great benefits because several hundreds of millions of dollars in revenues will enter the state budget.
The Minister said that the research area of Crni Vrh is a very sparsely populated mountainous area and that the launch of mining production would be an incentive to the development of many industries.
The Minister said that the maximum concession fee of €100 per kilometer was reached, stressing that such a fee in Sweden stands at €10.
Naumov recalled that last year the government passed the Decision on granting concessions for research and extraction of copper, gold and other minerals in the territory of Crni Vrh near Bor at the research sites of Coka Koruga, Coka Kupjatra and Tilva Njagra.
Goodman said that the company is planning to invest $13.6 million in research this year. He added that in the area of Crni Vrh new technology will be used which has not been used until now.
According to Goodman, it is expected that some $20 to $30 million or even higher sums will be invested in geological research of that area.
He pledged that during this research all ecological standards will be respected and environmental protection will not be compromised.
Canadian Ambassador to Serbia-Montenegro Robert McDougall said that this agreement has opened up the possibility of economic development and of expanding trade between the two countries
The Minister said that the research area of Crni Vrh is a very sparsely populated mountainous area and that the launch of mining production would be an incentive to the development of many industries.
The Minister said that the maximum concession fee of €100 per kilometer was reached, stressing that such a fee in Sweden stands at €10.
Naumov recalled that last year the government passed the Decision on granting concessions for research and extraction of copper, gold and other minerals in the territory of Crni Vrh near Bor at the research sites of Coka Koruga, Coka Kupjatra and Tilva Njagra.
Goodman said that the company is planning to invest $13.6 million in research this year. He added that in the area of Crni Vrh new technology will be used which has not been used until now.
According to Goodman, it is expected that some $20 to $30 million or even higher sums will be invested in geological research of that area.
He pledged that during this research all ecological standards will be respected and environmental protection will not be compromised.
Canadian Ambassador to Serbia-Montenegro Robert McDougall said that this agreement has opened up the possibility of economic development and of expanding trade between the two countries
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