August 27 (SeeNews) - Canadian company Diamond Fields International will be able to correct its bid in a tender for a strategic partner in Serbian state-run copper miner and smelter RTB Bor, Serbian media reported on Saturday.
Diamond Fields will be able to submit an updated bid for RTB Bor by August 27, daily Politika said.
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Last week, Serbian media reported that Diamond Fields, a unit of Luxembourg-based Spirit Resources SARL, dropped from the race for RTB Bor, as it did not fulfil the conditions for participation.
The company's revenue amounted to just $1 million (861,000 euro) in 2017, whereas the minimum required by the Serbian government is $500 million, daily Politika said on Friday.
The other two bidders for RTB Bor reportedly are China's Zijin Mining Group and Ugold Limited, a Cyprus-based company with Russian capital. Broadcaster RTS says Ugold Limited is controlled by Russian entrepreneur Konstantin Strukov, the owner of Russian gold miner Yuzhuralzoloto.
Serbia's economy ministry invited bids in a tender for a strategic investor in RTB Bor in July. The strategic partner should inject $350 million in the capital of the company and keep all 5,000 jobs.
($ = 0.8613 euro)