China’s gold offensive in southwest Serbia too – Zijin crosses 5% ownership threshold in Rogozna project

The Chinese mining giant Zijin Mining has become the second largest shareholder in Australian company Strickland Metals, strengthening its position in the Rogozna project near Novi Pazar, which many consider one of the most promising gold and copper deposits in the Balkans.

According to the latest documents from the Australian Stock Exchange (ASX) dated April 8, 2026, Zijin has invested an additional 8 million Australian dollars in Strickland, raising its ownership stake to 5.55%. This is the third major entry of Chinese capital into this company in the past year.

First, in August 2025, Zijin invested 5 million dollars in the Rogozna project, entering the ownership structure of Strickland with about 3.3%, shortly after the Australians completed the acquisition of this project by taking it over from the previous owners.

In February of this year, a new capital increase of another 5 million dollars followed. This move was a clear signal that the Chinese want to secure their participation in the future development of the mine.

With the latest purchase of 40 million shares in April, Zijin became a so-called “substantial holder” - a significant shareholder (on the Australian stock exchange, a holder of more than 5% of a company’s shares is granted the status of “substantial holder”). With a stake of 5.55%, Zijin Mining is now in Strickland just behind the leading shareholder, the Ibaera Capital fund, but with far greater mining experience and machinery, and has also been present in Serbia, in Bor and Majdanpek, for years.

Why is Zijin so “persistent?” The answer lies in the figures that Strickland Metals regularly publishes in its reports. The estimated resources at the SŠanac, Gradina and Medenovac sites now amount to 267.46 tons of gold equivalent.

Namely, the total estimate for the Rogozna project jumped from 168 to 267.4 tons ahead of the Zijin investment, while the estimate for the most promising Sanac site increased from 143 to 166.4 tons of gold equivalent, with an officially confirmed 39 tons in the indicated ore category.

Seven days ago, Strickland also announced that a completely new mineralization had been discovered at the Obradov Potok site, which has yet to enter the official resource calculation at the end of the year.

Strickland announced as much as 70,000 meters of drilling at Rogozna for 2026.

In February, before this April capital increase, the Australians had already collected more than EUR 33 million from investors.

The company expects the Pre-Feasibility Study (PFS) to be completed by mid-2027 (which is a step preceding the possible obtaining of exploitation permits).

B. P.

Strickland Metals

Serbia Zijin Mining d.o.o. Bor

Stickland Metals

Zijin Mining

Rogozna

gold

ownership

shares

Rogozna gold and copper project