"Rion Tinto" company soon to start 5 years research of pine mine in Baljevac on Ibar and ready to hire 700 of locals

"Rio Tinto" company, which has recentley made a concessive contratc with the Government of Serbia, started prepairations for its 5 years research of pine mine in Baljevac on Ibar.

First evaluations show that on this ground the pine mine's stocks are larger than 7.5 millions of tones, which will allow voluminous exploitation for what it will be needed 700 local people.

"We have decided that for the openning of research drill-holes on this place hire experts from RTB Bor. In this and in the next four years of research in Baljevac we will invest 22 millions eur. After that there will be a production in which we would invest a total of 140 millions eur, said Nenad Grubin, regional manager of "Rio Tinto".

Minister of energetic, Radomir Naumov, on March, 8th, 2006 in Raska, announced that very soon there would be signed three similar concessive contratcs, but in Bor county within business of mines of copper and gold.