Government to reveal best bidder for RTB Bor on 31 August

The Government of Serbia will announce the best bidder for RTB Bor tomorrow, Friday, 31st August, at 11 am – the Tanjug news agency has learned from the Government.

The announcement will be made at the press conference to be held at the headquarters of the Government of Serbia at 11 am. Minister of Mining and Energy, Aleksandar Antic will speak at the conference, and Minister of Finance, Sinisa Mali will be present as well.

The commission for the tendering for the strategic partner for RTB Bor yesterday opened two bids which had met the terms and conditions of the tender, those by China’s Zijin and Russia’s U Gold, while the third bidder – Canada’s Diamond Fields – failed to submit a complete bid.

Companies that have been continuously engaged in the exploitation of copper and other coloured and precious metals with the revenue of at least half a billion dollars in the past year had the right to submit applications for the selection of a strategic partner.

The winning company will have to recapitalize RTB Bor with at least $350 million.

The tender does not define the equity that will be put up for sale, but the state will select a partner willing to pay $350 million for a minority stake.

“The minimum that we require is that they are no layoffs in the company, that the new partner invests at least $350 million USD and that in the next four to five years, production should increase between three and four times. When this is done, the state will re-examine its stake in the company”, said Prime Minister Ana Brnabić.

Contract in September

It is expected that the relevant contract with the strategic partner will be signed in September, while the strategic partner could take over the operational management of RTB Bor in early 2019.

The deadline for submission of bids for selection of the strategic partner for RTB Bor expired on 20thhAugust. Seven companies had purchased tender documentation.

(Blic, 30.08.2018)


This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published.

scroll to top