RTB Bor strategic partner tenders to be called soon

BOR – Mining companies that may want to acquire majority-ownership rights in three ore bodies that are part of the RTB Bor copper mining and smelting complex will be invited to submit their tender offers in the second half of August.

The three ore bodies are Cerovo Primarno in the Copper Mine Bor and the large underground body of Borska Reka and the Coka Marin gold mine in Majdanpek, eastern Serbia.

Blagoje Spaskovski, managing director at the RTB Bor, an enterprise in restructuring, told Tanjug that the RTB Bor would negotiate with foreign companies, but refused to give the names of those companies.
“As Serbia’s Prime Minister Aleksandar Vucic has already said during a recent visit to the RTB Bor, after restructuring, the copper complex will remain majority-owned by the state,” said Spaskovski.

The RTB’s debt will be converted into equity of the state, and we will find the best way to pay debts to commercial creditors, he said.

Majority ownership in the ore bodies of Borska Reka, Cerovo and Coka Marin will be offered to bidders so that the buyer could supply them with ore concentrate.
“Big companies and their capital are in the game. The potential buyer of these ores, which will be offered for sale as separate legal entities, will acquire a managerial package and majority ownership, and part of the shares will be held by the RTB Bor, or the Republic of Serbia,” said Spaskovski.

Investment in the three ore bodies will total USD 230 million, or USD 100 million dollars each for Borska Reka and Cerovo and USD 30 million for Coka Marin.

Screenshot video Tanjug, illustration