The Yugo-Kaolin company, a subsidiary of Kaolin AD, has acquired the rights and assets of Belorecki Pescar Mine, city of Bor, Serbia, Kaolin AD said on Thursday.

The transaction is of the value of 1 million euro. Yugo Kaolin has also undertaken to invest 850,000 euro in the Serbian company.

The deal gives Yugo-Kaolin an access to the Bjala Reka deposit of quartz sand which is among the best in Europe in terms of quality. The sand mined from this deposit is suitable for the production of crystal items, energy saving glass and photovoltaic panels, the message said.

This is the fifth of a series of similar transactions concluded by Kaolin in Serbia.