Two companies interested in partnership with RTB Bor

The Acting CEO of Mining Smelter Basin (RTB) Bor, Blagoje Spaskovski, said yesterday (March 15, 2010) that Swiss Glencore and certain investment fund from England were interested in strategic partnership with RTB.

After the meeting of RTB's engineers, Spaskovski said to the press that the strategic investors were expected to invest 250m USD in opening of strip mines Cerovo Primarno and Borska Reka.

He pointed out that more than 500m USD would be invested within next four years in enhancement of the quality of production in Bor-based copper manufacturer.

Spaskovski specified that, in addition to the strategic partner's investment, the investment of 270m USD in procurement of mining machinery and construction of new Smelter was also expected.

He added that RTB would participate with Victoria Group in opening phosphate mine Lisina where complete production of sulfur acid from RTB would be used for production of artificial fertilizer and detergents.

Spaskovski also said that RTB Bor had started preparations for opening and exploitation of gold mine Čoka Marin 1, near Majdanpek, in which about 1.5m EUR would be invested.

- That is a deposit with 240,000 tons of ore, which includes 4.4% of copper, 14g of gold per ton and nearly 100g of silver per ton - said he.

Spaskovski pointed out that the ore deposits with 1% of copper were considered exceptionally rich.