International news within the industry of mining and metal, May, 22 2019
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Chinese, Canadian, Russian groups bid to invest in Serbian copper miner

Photo: RTB Bor
Photo: RTB Bor
Published by
Jaroslaw Adamowski - 24 Aug 2018

Chinese, Canadian and Russian investor have submitted bids to become a strategic partner to Serbia’s state-run co-pper miner RTB Bor.

 

A government committee is currently evaluating the submitted bids, according to the information obtained by local news site Seenews.com. The Serbian authorities aim to find a strategic investor for RTB Bor that would invest some $350 million in the copper miner, allowing it to preserve some 5,000 jobs. The funds are expected to allow the company to upgrade and overhaul its activities. The names of the three bidders were not disclosed by the Serbian government.

 

Earlier this year, the company announced it aims to invest some $10.5 million as part of its plan to raise the production of copper at its Veliki Krivelj mine by 40% this year to some 855,000 tonnes.

Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat
Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat

Chinese control half of the Congo's cobalt