Cabo Drilling Corp. announced that Jantar Grupa d.o.o. and Cabo Drilling have signed a business cooperation agreement to exclusively market their services to their respective customers and other companies and consultants in the mining and mineral exploration industry in Serbia and Bosnia-Herzegovina. Serbia is located in the southeastern Balkan region of Europe, where mining dates back to the Middle Ages, when silver, gold and lead were extracted.

There are many mineral deposits and major occurrences distributed throughout the country, and copper, along with lead, zinc and bauxite are the main metallic ores mined in Serbia, with the majority of the copper being produced in the Timoc (Bor) District in northeastern Serbia, and lead and zinc being mined in the Kopaonik District in south-central Serbia. The recent increase in commodity prices, the recovering Serbian economy and political stability have led to an increase in mining and in mineral exploration in Serbia, particularly gold, copper, lithium and borates. Bosnia-Herzegovina is also located in southeastern Europe and borders the Adriatic Sea and Croatia.

The region is endowed with valuable mineral resources that include bauxite, coal, industrial minerals, iron ore, lead and zinc.