Five world companies to compete for purchase of Bor-based copper combine - Deripaska vs. Drakulić

Tender documentation for procurement of Mining-Smelter Basin "Bor" was bought by five world companies. These companies are "Basic Element" owned by Oleg Deripaska, Cyprus-based "East Point" owned by Zoran Drakulić, Russian company "Solvej", "Brickshelf" from Austria and Indian "Vedanta Resources" .

"Solvej" is the owned of Macedonian lead and zinc mine "Sasa" and copper mine "Bučim", for which RTB used to process copper concentrate for ten years. "Vedanta Resources" deals with trade in aluminum, copper and zinc.

Deadline for submittal of final bid for purchase of RTB at the lowest price of 340m usd expires on October 31, 2007. Future owner will have to offer at least 180m USD worth of investments and to accept obligations from the social program.

Transfer of rights on exploitation and copper refining, as well as property of Copper Mine "Bor", Copper Mine "Majdanpek" and Smelter, are included in the tender offer.

The first tender for sale of RTB was cancelled after the first-ranked bidder, Romanian "Cuprom", did not pay the offered amount of 400m USD even after extension of the deadline.