Preparations for privatization of Mining Smeltery Basin "Bor" enter final phase, tender expected in few days

The deadline for restructuring of Mining Smeltery Basin (RTB) "Bor" expires at the beginning of September 2006 and the tender for sale of Serbian copper company should be announced in next few days.

The management of RTB and the Privatization Agency say that there is great interest in the procurement of the company. The advantage, as Minister of Economy Predrag Bubalo announced, will be given to the companies that are ready to buy entire copper combine, which includes Copper mines "Bor", Copper mine "Majdanpek" and Copper Smeltery "Bor".

Australian company "View mining", which operates in Serbia under name "View resources", announced that it wanted to join the procurement of entire RTB "Bor". Among the potential buyers are Cyprian "Strite fort" and Canadian "Dundee precious metals".

Along with the sale of property, the future buyers will sign special contract that regulates transfer of mining licenses for ore exploitation, because the ore resources will not be sold.