Canadian Mundoro wants to acquire RTB Bor

Canadian company Mundoro Mining has expressed interest in forging a strategic partnership with the Mining and Smelting Basin Bor (RTB Bor). The Canadian company also announces its participation in the tender for privatization of RTB Bor.

The Chairwoman of Mundoro’s Executive Board, Teodora Decheva said, after meeting with the Serbian mining company, that RTB Bor had a great potential. “We are interested in strategic cooperation and partnership with RTB, particularly in regard to their well-known mines Cerovo Primarno and Jama in Bor, and Serverni Revir and Coka Marin in Majdanpek”, Decheva added.

“This is our first meeting with the Canadian company. We have agreed to sign a memorandum on confidentiality of information soon, after which we are going to start the talks with them, as well as with any other company that is interested in cooperating with RTB Bor”, said CEO of the Serbian mining company, Blagoje Spasovski.

The Canadian company, together with the Japanese National Oil, Gas and Metal Company (JOGMEC) is already conducting geological research here. Their initial results have confirmed that there is 0.5% of copper and 0.7% of gold per tonne of ore in the RTB Bor’s mines. In another mine, the two companies found 1.7 grams of gold per tonne of ore which is considered a good incentive to continue the research. Mundoro Mining has a total of 8 research locations in the vicinity of Bor. They have started the research in the area back in 2011.

 (Vecernje Novosti, eKapija, 14.03.2017)

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