Zijin Mining stock faces fresh political risk at Serbian Bor expansion

Serbia's Student List movement has called for preparations for the Jama Bor copper expansion to be halted, adding a fresh political risk to Zijin Mining's Serbian growth plans. S&P Global reported the request on Wednesday, November 11, after the movement won a majority of seats in Serbia's October 25 parliamentary election.

Political challenge targets Bor expansion

The movement wants Serbia's Agency for Spatial Planning and Urbanism to suspend preparation of the Phase II spatial plan and to ask the future government to revoke the decision to proceed. Its objections focus on potential ground instability, effects on Bor's historic center and the displacement of residents.

The proposed project covers deeper underground workings at the Borska Reka copper deposit, a new flotation plant and additional infrastructure. Serbia Zijin Copper, a majority-owned subsidiary of Zijin Mining, says the plan could raise annual ore production from 4.8 million metric tonnes in the first year to 18 million metric tonnes in the fifth year and extend the mine's life by 22 years.

Relocation remains a key hurdle

Serbia Zijin Copper says assessments have identified a possible subsidence zone around Brezonik and the area between the settlement and the former Bor open-pit mine. About 290 residential properties could require relocation, while the company says the spatial-planning process remains within the statutory framework and that it is discussing solutions with residents.

Zijin Mining stock traded at 3.18 euros on Lang & Schwarz at 15:37 CET on Thursday, November 12. That was 4.22 percent below the 3.32-euro quote in the previous report published on Wednesday, November 11 at 09:30 CET, a separate comparison that highlights the latest trading reference for investors.

Execution will shape the investment case

The expansion offers a possible long-term route to higher copper output, but the project remains in planning rather than construction. Relocation, environmental controls, infrastructure requirements and regulatory timing could increase the capital burden before additional production generates revenue.

European mining shares remain sensitive to copper prices, industrial demand and permitting developments; the Euro Stoxx 50 provides the broader regional market backdrop.

More news and analyses on Zijin Mining stock.