Serbia collected RSD 11.65 billion (€99 million) in mining resource fees during the first half of 2026, up 14.6% year-on-year, as the government prepares a new programme to develop the mineral sector and expand domestic processing capacity.
The figures were presented by the Ministry of Mining and Energy at an industry conference. Mining accounts for approximately 2.9% of Serbia’s GDP, while metallic ore production increased by 2.9% between January and June.
Copper and gold production, foreign investment and demand for minerals used in electrification and manufacturing underpin the sector’s position in Serbia’s industrial economy. The government’s forthcoming investment and regulatory programme is intended to support further development, with greater emphasis on processing minerals within the country.
Zijin Operations Support Copper and Gold Production
Chinese-owned Serbia Zijin Copper and Serbia Zijin Mining remain major participants in the industry through their operations around Bor and the Čukaru Peki copper-gold deposit. Their investments have strengthened Serbia’s role in European copper production and supported related activities in engineering, construction, equipment supply and metallurgy.
According to Zijin’s published project information, its Serbian operations produced approximately 296,000 tonnes of copper and 9.1 tonnes of gold in 2025. The group’s production guidance for 2026 envisages approximately 296,000 tonnes of copper and 8.1 tonnes of gold. Longer-term plans target combined annual copper output of 450,000 tonnes. Reaching that level will depend on underground mine development, processing infrastructure and the implementation of additional investments.
Higher production would also increase demand for electricity, industrial water, transport infrastructure and specialist engineering services. Serbia already has copper smelting and refining facilities, providing an existing industrial base for further downstream investment. Additional processing capacity could support the production of higher-value copper products, industrial components and specialised manufactured goods. The commercial viability of such investments will depend on competitive energy costs, access to technology and export markets, and compliance with environmental requirements.
Mining Strategy Sets Priorities for 2026–2029
The Ministry of Mining and Energy is preparing an action plan for 2026–2029 under Serbia’s mineral resources strategy, which extends to 2040, with projections through 2050. The programme is expected to address regulatory development, digitalisation of permitting, critical raw materials, environmental management and domestic mineral processing.
One proposed administrative measure is a unified electronic system for submitting permit applications and processing approvals. The system is intended to make permitting more predictable for companies developing exploration and mining projects. Project development will continue to depend on environmental impact assessments, water availability, waste and tailings management, land access and acceptance by local communities. The government has indicated that efforts to accelerate administrative procedures will not involve lowering environmental protection or safety standards.
Mining Employment Supports Demand for Skilled Labour
Serbia’s mining industry employs more than 32,000 workers, with average net monthly salaries exceeding RSD 153,000 (€1,300).
In metallic ore extraction, average net monthly earnings approach RSD 186,000 (€1,580), reflecting the sector’s demand for skilled employees and its contribution to employment in mining regions. The industry requires specialised engineers, geologists, automation specialists and mineral-processing technicians as operations and processing facilities develop.
Mining expansion also creates financing opportunities for banks and institutional lenders in equipment purchases, industrial infrastructure, processing plants and related energy investments. Lenders assessing these projects must account for commodity-price volatility, electricity demand, environmental liabilities, permitting uncertainty and the substantial capital expenditure required for underground mine development and metallurgical expansion. Returns on additional refining and manufacturing capacity will depend on securing reliable mineral inputs and achieving sufficient commercial margins.
Resource Fees Highlight the Importance of Domestic Value Creation
The increase in mining resource fees demonstrates the sector’s growing contribution to public revenue, although fee collections do not directly measure corporate profitability or the amount of industrial value retained in Serbia. Receipts can also fluctuate with commodity prices, production composition and payment schedules.
Expanding the economic benefits of mining will require the development of activities beyond the extraction of mineral resources. Serbia’s established position in European copper production provides a base for additional investment in processing and manufacturing, particularly as European industry seeks to diversify its material supply chains. The government’s planned regulatory and investment measures place domestic processing among the priorities for the next phase of mineral-sector development, alongside critical raw materials, permitting reform and environmental management.
