DINKIC: Change of RTB "Bor" tender on February, 26th

Agency for privatization announced on February, 27th, changes in the tender for election of strategic partner for the Mine basin RTB Bor.

Startegic partner will be able to obtain 40% of then ownership through recapitalization with a minimum of 116 billion USD, in the new company formed by merging of RTB, Copper Mine Bor, Copper Mine Majdanpek and Smeltery and Refinery.

The monwy from recapitalization, which should be done within the period of 3 years, will be used for investments in the mines and for the remont of existing smeltery.

It stands in the tender that the Republic of Serbia is ready to finance construction of the new copper smeltery "according the best available technology that completes all standards about protection of the living environment."

The state will provide a credit on favorable conditions for construction of the smeltery, in amount of 130 million USD maximum. By the contract of this credit, there will be perseen a possibility of replacing demands of the state based on the credit into the capital of the new company.

The right on participation on the tender have all companies involved in manufacture, processing or trade of copper and copper made products or any other colored metals in the last three years, and with a profit of more than 500 million USD in 2007.

Deadline for submission of requests for participation on this tender is April, 3rd, and obligatory offers can be delivered by April, 21st, with a 10 million USD guarantee.

With the earlier tender, published in November of the last year, there was obligatory investment of 300 million USD for 67% of the ownership of copper group's capital. The decision about changes in this tender, Ministry of economy made because of the downfall in the copper price at the world market for almost three timesm, as a result of economical crisis.