Chinese, Cypriot and Canadian companies bidding for RTB Bor

Three companies submitted bids for taking part in privatization of RTB Bor – Chinese Zijin Mining, Ugold Limited based in Cyprus and backed by Russian capital, and Canadian-Finnish investment fund Champion Iron.

The deadline for submission of an application for strategic partnership with RTB Bor expired three days ago and the Ministry of Economy announced that three applicants came from China, Russia and Canada but didn’t specify their names. 

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According to tender prerequisites, the strategic partner should inject minimum $350 million in RTB Bor, increase production between three and four times over the next four to five years and not lay off any of the 5,000 workers. 

Seven companies in total have purchased tender documentation. 

The Vecernje Novosti daily writes that if China’s Zijin, one of the most serious competitors for forging strategic partnership with RTB Bor, succeeds in winning the bid, they could get the chance to occupy a strong position in the European market. 

According to the daily, very little is known about Ugold Limited. The company has coal mines in Ukraine and also they own some of the most famous hotels in Montenegro. 

The Canadian – Finnish investment fund, Champion Iron deals with mining investments and has expressed interest in RTB Bor several times before.

(Nova Ekonomija, 22.08.2018)


This post is also available in: Italiano

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