25.3 C
Belgrade
Supported byspot_img
spot_img

Zijin company takes over majority share in Serbian copper company RTB Bor

Member of Europium Groupspot_img
Supported byspot_img

Serbia’s competition protection authority approved the takeover of a 63 percent share in the Mining and Smelting Complex Bor by the Chinse company Zijin, which became the strategic partner of that company.

The authority’s reasoning stated that the Zijin company never operated on the Serbian market so far, and they are expected to take over the RTB Bor management from the beginning of the next year.

The Zijin company offered to buy a 63-percent stake in the RTB Complex worth USD 1.26 billion (around EUR 1 billion), including a USD 350 million (around EUR 300 million) investment, RTB’s USD 200 million (EUR 172 million) debt settlement, and to preserve 5,000 jobs.

Supported by

The Strategic Partnership Agreement between the Government of Serbia, RTB Bor and the Zijin company was signed on September 17 during the visit of Serbia’ delegation to China.

The company is obliged to pay USD 100 million (around EUR 860,000) by the end of this year and additional USD 350 million (around EUR 300 million), which will mostly go to the repayment of debts.

Source: rs.n1info

Supported byElevatePR Digital

Related News

Renewable energy boom spurs demand for copper and critical minerals: Emphasizing responsible mining

The global push towards renewable energy is set to significantly increase demand for critical minerals and metals such as lithium, copper, manganese and rare...

Euro Manganese advances with successful commissioning of high-purity manganese facility

Euro Manganese Inc. has successfully completed the commissioning of its high-purity manganese Demonstration Plant at the Chvaletice Manganese Project in the Czech Republic. This...

Rio Tinto Assures on 2500 Pages – There is a Solution for Every Danger

Rio Tinto executed a move announced six months ago – they published drafts of environmental impact studies on how harmful the lithium mine in...

Geopolitical struggle over Central Asia’s rare-earth reserves

Central Asia, encompassing Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Afghanistan and Mongolia, holds vast untapped reserves of rare-earth minerals. Recent global developments have thrust these...
Supported by
Supported by
Supported by
error: Content is protected !!