Stefan Sädbom, Senior Exploration Geologist and chairman of Lovisagruvan and Orexplore, talks about...
Chinese, Canadian, Russian groups bid to invest in Serbian copper miner
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.