Chinese, Russian-owned companies place binding bids for Serbian copper mine
BELGRADE – China's Zijin Mining and Russian-owned U Gold have sent valid bids for a strategic partnership in RTB Bor, Serbia's only copper mine and smelter, Mining and Energy Minister Aleksandar Antic said on Tuesday.
In July, Belgrade invited bids for a partner to invest at least $350-million in debt-laden RTB Bor but did not say how big a stake it would offer in return.
Under the terms of the tender, the prospective partner would have to increase the company's production and keep its entire workforce of 5 000.
Serbia had previously failed three times to sell the mining complex, in 2007 and 2008, as bidders fell short of meeting the terms of those tenders.
"The (tender) commission ... will evaluate bids in the shortest possible time, and I expect that as of January 1, 2019 we will have a strategic partner that will take over ... the management of RTB Bor," Antic told reporters.
RTB Bor's copper exports in the first half of 2018 rose 23% to 15 000 t, company data showed. Export revenue between January and June stood at $107.1-million and it sold copper worth an additional $30.9-million domestically.
To speed up reforms and spur growth, as recommended by the International Monetary Fund, Serbia must dispose of its remaining State-run companies.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation