Second tender announced for Mining Smelter Basin "Bor"

One year after the first tender, the new, second tender for sale of property of Mining-Smelter Basin (RTB) "Bor" was announced today (August 31, 2007).

Minimal price for sale of Bor-based basin will be 340m USD. Company "Basic element", which is owned by Russian billionaire Oleg Deripaska, has already announced participation in the tender, and similar announcement has also been given by company "East point", which was second-ranked on the first tender.

According to the Minister of Economy and Regional Development, Mlađan Dinkić, the forthcoming tender will be completely transparent, and the winner will be known by the end of the year.

Dinkić added that the starting price would be higher by about 80m USD than on the first tender, while the minimal investments would amount to 180m USD, which is three times higher amount than on the first tender. These investments should provide construction of brand new smelter in Bor and environment protection in accordance with European standards.