Ministry of mining and energetics of Serbia announced that on April, 26th, 2006, along with representatives of the Canadian company 'Dandy metals' they will sign a concessive contract about exploiration and exploitation of three mine fields on the mountain Black peak.
Representatives of the Serbian Government, with Canadian mine company for gold exploitation "DPM" have made an outline of concessive contract and signed it on April, 17th, 2006 in Belgrade, about geological research on three locations on the Black peak near Bor - Cuka kuruga, Cuka kupjatra and Tilva njagra and on the location Jaran near Baljevac, within the flow of the river Ibar.
In the beginning of November, 2005, the comission of Government of Serbia for concessions estimated that tender offer of DPM company was the best. The mentioned company, on this occasion offered 38 millions USD for shooting the mine field Cuka kuruga, and with a promise to invest a total of 50 millions USD in all three locations on the Black peak (which take 50 km2).
However, Zorana Mihajlovic Mialnovic, advisor of the vice president of the Government of Serbia, still claims that the mentioned contract of concession for research and exploitation of the gold mine and copper mine on the Black peak is not in the interest of the state.
She has made a question to the authorities: Why has the Ministry of mining allowed a Canadian company to give as a fee for land research 100 eur per square meter and 1% of the profit, instead of 200 eur and 3% which is signed by the law.