Victoria Phosphate

Victoria Phosphate ltd, Bosilegrad, Serbia

Company Victoria Phosphate Ltd headquartered in Southeast Serbia has been 100% owned by Victoria Group business system since its establishment in 2008. The company currently employs 9 people working  full time and a number of consultants in the fields of mining, geology, engineering, finance, and other relevant disciplines. The main activities of the company are development and engineering of the project for phosphate mining in the deposit Lisina near Bosilegrad, exploitation of phosphate ore, as well as production and marketing of phosphate concentrates. The core product of the mine will be phosphate concentrate which represents the primary entry raw material for production of phosphoric acid and mineral fertilizers, and which will have direct application within agrisulture as the main business of the hoalding.The nearest deposits of phosphate are in Northern Finland and North African zone, which makes Lisina the only deposit in continental Europe thus giving it strategic significance for our business system, but also for the whole domestic economy. Since June 2008, when the company became operational, an extensive feasibility study for the project has been completed, phosphate ore reserves of 72 million tons have been confirmed, and process of obtaining exploitation rights has begun. It is estimated that preparation, design, and construction stages of the industrial complex will last 4 years. After the mine has been put into regular exploitation operation, the forecast for volume of exploitation is 1.5 million tons of phosphate ore, that is, 380.000 of phosphate concentrate annually. The completion of the core activities of the company assumes the use of the state-of-the-art technology. Access to such technology involves cooperation with renowned international companies specialized in equipment sales and installation, and in mining technology, geology and environmental issues. Contacts with such companies have been made and search for optimal solutions in technology of the mine is underway. In order to verify previous findings and to obtain new informtion several research/development activities are underway: rasing geologic results to the level of internationally acceptable JORC standards through additional research drilling and lab analyses; testing process of phosphate flotation based on representative samples in cooperation with foreign specialized institutions;improvement of concept of mining exploitation and environment protection; geodetic surveys to update data on exploitation field.