Tender for RTB Bor opens

The Ministry of Economy has opened a public invitation for a strategic investor for RTB Bor, which envisages a mandatory monetary capital increase in the amount of USD 350 million.

As said in the public invitation, eligible companies include local or foreign companies which have exploited or produced copper and other noble metals continuously in the past 10 years. The company must have operating revenues larger than USD 500 million, and the bid submission deadline is the noon of August 20. Potential investors must also provide a banking guarantee in the amount of USD 1 million.

Politika reminds that Minister of Mining and Energy Aleksandar Antic hinted several months ago at the Kopaonik Business Forum that the tender for RTB Bor would take this form, announcing that the state would require mandatory investments of USD 300 million from the partner. In the meantime, the state decided to raise the threshold.

Let us remind that, so far, 11 companies from Russia, China, Canada, Turkey and a Kazakh-European consortium have expressed an interest in RTB Bor. In the past year, they've signed confidentiality agreements and performed due diligence.

Politika reminds that one of the companies interested is a Russian copper company with ties to businessman Milan Popovic. Among those interested are also Power China and Zijin Mining. Mehmet Cengiz, the owner of the Turkish company Cengiz Holding, also announced recently that the company would take part in the tender for RTB Bor. Canada's Mundoro has also shown an interest publicly, and Minister of Economy Goran Knezevic pointed out after his visit to Kazakhstan that companies from that country were interested as well.

Minister Antic announced several days ago that several serious offers were expected.

– In the past period, several foreign mining companies from various parts of the world have expressed an interest and we expect them to participate. The Chinese have become giants in the economic and industrial life and if their offers are serious and if they recognize a strategic interest in RTB Bor, they may have a good chance – Antic said.

Serbia Zijin Copper doo Bor

Ministarstvo privrede Republike Srbije

Ministarstvo rudarstva i energetike Republike Srbije

Zijin Mining Group Co Beijing

Cengiz Holding A.S.

Mundoro Kanada

RTB Bor

Ministry of Economy

RTB Bor strategic partner

tender for RTB Bor

Ministry of Energy

Aleksandar Antic

tender for a strategic partner for RTB Bor

production of copper

production of noble metals

Power China

Zijin Mining

Mehmet Cengiz

Cengiz Holding

Mundoro