MINERAL POTENTIAL OF SERBIA IS BELIEVED TO BE MORE SIGNIFICANT THAN ITS PAST AND PRESENT PRODUCTION ! 16.9.2016.
POLYMETALLIC AREA PERMIT Pb, Zn, Cu, Hg, Sb, Ag, Au…
www.serbiamining.rs 1 PERMITS 16.9.2016. LOCATIONS
PolyMet area location
www.serbiamining.rs 2 16.9.2016. PERMITS LOCATIONS
PolyMet area location
www.serbiamining.rs 3 16.9.2016. GEOGRAPHICAL POSITION
• The area is 120 - 150km by road from Belgrade, also well connected by magisterial and regional roads to other nearby urban centres: Šabac, Užice and Valjevo.
• It is limited on the west by river Drina which is also Serbia - Bosnia and Herzegovina border.
• Its eastern and westernmost parts are also connected with the rest of Serbia by railroad.
www.serbiamining.rs 4 16.9.2016. Morfology and climate
• Terrain is mostly hilly to mountainous, with altitudes ranging from 150 to almost 800m. Except for its northeasternmost part (whcih drains into Sava river), it belongs to Drina river catchment area and thus via rivers Sava and Danube to the Black Sea catchment.
• Climate is moderate-continental. Maximum monthly average temperatures range from around 6°C in winter to almost 40°C in summer, while minimums range from -3°C in winter to 18°C in the summer. Winds generally do not blow at more than 11m/s, with SE winds being the most frequent, followed by NW and SW winds. Months with most precipitation are winter and spring months.
www.serbiamining.rs 5 16.9.2016. GEOLOGY
• The area is situated within the so-called Jadar block of External Vardar Zone (Dimitrijević M. D., 1995), between two granitoid intrusive masiffs: Boranja in the southwest and Cer in northeast.
• Terrain is comprised mostly of Devonian (D, pink), Carboniferous (C, grey), Permian (P, brown) and Triassic (T, purple) rocks, with intrusions of Tertiary granitoid rocks (dg, red) and volcanics (aqa, orange). A large portion of Carboniferous, Permian and Triassic rocks are limestones, presenting an ideal environment for hydrothermal ore-bearing processes. These units are in the north covered by Upper Cretaceous and the Tertiary sediments of Jadar basin, in recent years famed for its lithium - boron mineralization.
www.serbiamining.rs 6 16.9.2016.
PolyMet permit base geological map
www.serbiamining.rs 7 16.9.2016. PREVIUOS ACTIVITIES
• There are numerous mineralization occurrences in the area.
• Two western areas (Zajača and Kostajnik) are dominated by Sb occurrences and contain four active Sb mining areas, which had to be excluded from the permits.
• The eastern part (Krasava and Zavlaka) is dominated by Pb-Zn occurrences.
• There are also several Cu, barite and fluorite occurrences in the area, as well as an Hg occurrence in the extreme northeast, and an active Pb-Zn mine Veliki Majdan to the south from the area.
• The bulk of previous geological exploration took place in '40s, '50s and the beginning of '60s in the XX century, with additional exploration in the area of now active Sb mine Brasina in the '80s and '90s.
• The older data is publicly accessible.
www.serbiamining.rs 8 16.9.2016.
PolyMet occurances and old workings
www.serbiamining.rs 9 16.9.2016.
SERBIA FRAMEWORK
www.serbiamining.rs 10 16.9.2016.
WHY TO INVEST IN SERBIA
• Good infrastructure, existing mine industry, skilled workforce, low crime rate, nice climate…
• Around 47,000 university and college graduates, and 75,000 high school graduates every year.
• Top quality technical education at both high school and university level.
• Strong command of the English language - Serbia was ranked 4th out of 76 countries in Business English proficiency by BEI*. Young graduates speak other languages, primarily French, Italian, German, and Russian.
*Business English Index, Source: Global English Corporation, 2012 www.serbiamining.rs 11 Infrastructure 16.9.2016.
www.serbiamining.rs 12 WHY 16.9.2016. TO INVEST IN SERBIA
www.serbiamining.rs 13 Corporate Profit Tax • 10-year tax holiday for investments over €8.5 milion, 100 new jobs; WHY 16.9.2016.
Reduced Salary Load TO New employment entitles employers to a sizable relief of taxes and contributions paid on net salary from the moment of employment INVEST until June 30, 2016. IN • 1-9 new jobs: 65% reduction; SERBIA
• 10-99 new jobs: 70% reduction;
• 100+ new jobs: 75% reduction;
This reduces the total salary load to very competitive 20%*.
*an estimate for an average salary in Serbia. www.serbiamining.rs 14 • Serbia is one of the most competitive locations in Europe, according to
Eurostat. WHY 16.9.2016. • Among 37 European countries the lowest cost of electricity, gas, other fuels, postal services, landline telephony, fax service, and maintenance of motor TO vehicles costs. • Serbian cities always on Financial Times´ list of the Most Cost Effective Cities of INVEST the Future. IN SERBIA
www.serbiamining.rs 15 Government
Stable and 16.9.2016. POLITICAL FRAMEWORK Proactive
• On-going EU accession negotiations, full membership expected in 2020.
• On January 2014 Serbia has officially started the EU membership negotiations. It is well proven as one of the leading investment locations in CEE with key strengths in highly capable human capital and customs free access to the 15% of the world market.
• New government determined to improve the business climate. Support for investments, focus on new employment, economic reforms, fiscal and budget consolidation.
• New set of laws including Labour Law, Law on Bankruptcy, Law on Privatization, Law on Planning and Construction…
• Law on investments – adopted at end of 2015
www.serbiamining.rs 16 16.9.2016. BENEFITS FROM THE NEW MINING CODE
• Mining code was adopted at end of 2015.
• Exploration timeframe is 8 years (3+3+2 years + 2 for significant find in last exploration year)
• Reservation of exploration area for next phase of getting exploitation license up to 2 years
• Expropriation of the land for private investors is enabled
• Security of tenure defined for the first time in Serbia.
• Fastest permitting procedures
www.serbiamining.rs 17 16.9.2016. MINE PERMITTING PROCEDURE
steps from greenfield to building a mine
www.serbiamining.rs 18 16.9.2016. CONTACT DETAILS Dragan Milosevic, mining engineer Terragold&co doo Beograd Mokroluška nova 1, 11050 Beograd Tel/fax: + 381 11 3474 806 Mob.tel: + 381 64 220 8624 www.serbiamining.rs [email protected]
www.serbiamining.rs 19