Third time lucky for RTB Bor?
The Privatization Agency has begun accepting offers for RTB Bor, following two failed tenders.
Friday, 11.07.2008.
13:57
The Privatization Agency has begun accepting offers for RTB Bor, following two failed tenders. The Agency has changed tactics, and is seeking renowned manufacturers and copper processors interested in forming a strategic partnership with the copper mine and smelting complex. Third time lucky for RTB Bor? The deadline for applications is September 30. Bids will be accepted from parties dealing in copper production and processing with copper concentrate output of over 80,000 tons and/or copper cathode production of over 100,000 tons in the previous business year, and they will have the right to access to documents on the RTB Bor’s business activities and property, it was announced. RTB Bor is an integrated complex for the extraction and processing of copper ore. It is considered one of the leading manufacturers of non-ferrous metals in central and eastern Europe and has been operating since 1903. The company, located in eastern Serbia, comprises three basic entities - the Bor Copper Mine, the Majdanpek Copper Mine, and the Smelting and Refining Plant. There have been two attempts to sell RTB Bor so far, at tenders in 2006 and 2007, which failed primarily because potential buyers failed to secure banking guarantees and the required funds. It was therefore subsequently decided that the best solution would be to find a strategic partner to run the company together with the state.
Third time lucky for RTB Bor?
The deadline for applications is September 30. Bids will be accepted from parties dealing in copper production and processing with copper concentrate output of over 80,000 tons and/or copper cathode production of over 100,000 tons in the previous business year, and they will have the right to access to documents on the RTB Bor’s business activities and property, it was announced.RTB Bor is an integrated complex for the extraction and processing of copper ore. It is considered one of the leading manufacturers of non-ferrous metals in central and eastern Europe and has been operating since 1903.
The company, located in eastern Serbia, comprises three basic entities - the Bor Copper Mine, the Majdanpek Copper Mine, and the Smelting and Refining Plant.
There have been two attempts to sell RTB Bor so far, at tenders in 2006 and 2007, which failed primarily because potential buyers failed to secure banking guarantees and the required funds. It was therefore subsequently decided that the best solution would be to find a strategic partner to run the company together with the state.
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