"Rio tinto" invests 140 million EUR in Bor

"Rio tinto" will invest 10 million EUR in research works and 130 million EUR in the opening of the mine and construction of refinery for processing of boric acid in powder. The mine will employ 700 workers.

The concession will be alloted on period of 30 years. The fee for exploitation of ore reserves will cost "Rio tinto" 5 million USD on annual basis. Municipality of Raška will take 40% of the incomes, whereas the rest will go to the State.

Back in 2002, "Rio tinto" was interested in geological researches and opening of the copper and gold mine in the vicinity of Bor, but that arrangement, for inexplicable reasons, failed. RTB Bor is of the opinion that that was a bad business move made by the State.