"Dundee" invests 300m USD in molybdenum mine in Surdulica

Company "Dundee" (Dundee Precious Metals - DPM) has announced that it is ready to invest 250-300m USD in opening of molybdenum mine in Surdulica.

- Canadian company DPM is willing to invest 250-300m USD in opening of molybdenum mine in Surdulica within four years - said general manager of "Dundee" in Serbia Nikola Savić.

He said that the it was most likely that the surface pit of molybdenum mine, which would employ between 500 and 600 workers, would be opened in three or four years in village of Mačkatica near Surdulica.

Savić has pointed out that DPM carries out voluminous researches in the vicinity of Surdulica for two and half years and that they showed that inaccessible terrains around Mačkatica and Borovik contain deposits of molybdenum and wolfram, as well as certain quantities of gold and copper.

- On the basis of former results, we started to work on the preliminary study, which will be finished at the beginning of the next year, and then we will start to work on the feasibility study - said Savić.

So far, Dundee has made 51 borings on the area of about 82 square meters, some thirty kilometers away from Surdulica.

- Total of 141m RSD has been invested in these works. In addition to current 15 workers, another 100 new workers will be hired for researches next year - said Savić.

Manager of Belgrade's branch office of company DPM added that wherever that company worked with molybdenum and related metals, one job in mine created three to five other jobs in local area.

DPM Avala doo Beograd

molybdenum

Nikola Savić

Borovik

Mačkatica

gold

copper

wolfram