Zijin Mining up their interest in RTB Bor

The top executives from the Smelting and Mining Basin Bor (RTB) have met with the executives from Zijin Mining Company from China who have expressed a strong interest in participating in the RTB’s privatization.

RTB Bor confirms that they a tender for the selection of a strategic partner should be launched by the end of May. The Chinese company also brought 35 of its engineers, legal and business experts to Bor to analyze all of the company’s segments.

CEO of RTB Bor, Blagoje Spaskovski says that the Chinese company wants to invest capital and increase production three to four-fold.

“This means that the participation of RTB in Serbia’s GDP would go up from the current 0.8% to 3% or 3.3% percent. I must say that they (the Chinese company) is not willing to dismiss any of the current workers should they get involved,” Spaskovski adds.

The representatives of Zijin Mining also met with the Serbian President, Aleksandar Vucic to whom their expressed their strong interest in forging a strategic partnership with RTB Bor. The Chinese Ambassador to Serbia, Li Manchang was also present at the meeting.

Zijin Mining Group also said they had serious development plans for RTB Bor and the region, adding they intend to invest several hundred million dollars in the modernization of the production and the restructuring of the company in line with the highest world standards.

Serbian Minister of Mining and Energy, Aleksandar Antic said earlier that only those companies that were willing to recapitalize RTB Bor with at least $300 million would be considered fitting strategic partners. The Bor company is currently among the 15 biggest exporters in Serbia.

Zijin is one of the biggest Chinese producers of gold, the second biggest producer of copper ore and the third biggest producer of zinc ore.

(SeeBiz, eKapija, 12.03.2018)






This post is also available in: Italiano

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