•  
  •  
  •  

Serbia picks China's Zijin Mining Group as strategic partner in RTB Bor

Serbia picks China's Zijin Mining Group as strategic partner in RTB Bor Cerovo open pit mine; Source: RTB Bor

BELGRADE (Serbia), August 31 (SeeNews) – Serbia has picked China's Zijin Mining Group as a strategic partner in state-run copper miner and smelter RTB Bor, the country's energy minister said on Friday.

Zijin Mining Group will invest $1.26 billion (1.1 billion euro) in RTB, Aleksandar Antic told a news conference. A video file of his statement was posted on the website of news agency Tanjug.

Apart from the planned investment, the Chinese company, which will hold a 65% stake in RTB Bor, is obliged to recapitalise the miner with $350 million.

China's Zijin Mining Group beat Russia's U Gold in the tender for Serbia's miner.

Serbia's economy ministry invited bids in a tender for a strategic investor in RTB Bor in July.

($=0.8569 euro)

Compare
5 / 5 free articles left this month
Get more for free. Sign up for Basic subscription
Get full access. Upgrade to Premium subscription