Five companies offer 500 to 600 million dollars for RTB Bor

Of the eight companies interested in a strategic partnership with RTB Bor, five prepared full mining and geological, technological and metallurgy and financial overviews of RTB Bor, following which they offered between 500 and 600 million dollars for a partnership with the mining company.

– These are very serious companies, whose names we cannot yet disclose, as the tender for a strategic partner for RTB Bor has not yet been opened – says the Blic source from the Government of Serbia.

Two of the companies in question are from Canada, one company is Russian and there also two Chinese companies.

All these companies performed their due diligence, after which they presented their offers for a strategic partnership with RTB Bor.

– All these companies want to invest up to USD 500 million in the opening of two new mines in RTB Bor, Cerovo 2 and Cerovo Primarno, which are the biggest sites the company owns – the Blic source says.

– The companies offer up to USD 100 million for an expansion of the production in the Bor mine of Veliki Krivelj and the Majdanpek site of Juzni Revir.

However, as the price of copper has jumped at the London Metal Exchange, the Government of Serbia is not in a rush to introduce a strategic partner in RTB Bor.

– Several years ago, the Romanian company Kuprum and Austria's A-tec after it were offering 400 and 500 million dollars respectively for the purchase of the entire RTB Bor property – the Blic source underlines.

– Today, with the new smelter and new ore reserves discovered in the town's area, potential strategic partners, of course, find the Bor company very interesting.

The Blic source adds that the state will try to finance the beginning of the opening of the Cerovo 2 copper mine itself, so that raw materials for the smelter's operations would be secured and so that the dependence on processing imported raw materials in this facility would be reduced.

Serbia Zijin Copper doo Bor

Vlada Republike Srbije

Rudarsko Topionicarski Basen Bor

Kuprum

Atec

privatization of RTB Bor

privatization of Rudarsko Topionicarski Basen Bor

RTB Bor strategic partnership

Cerovo 2

Cerovo Primarno

Veliki Krivelj mine

Majdanpek site Juzni Revir

copper mine

copper