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Serbia picks China's Zijin Mining Group as strategic partner in RTB Bor

Author Maja Garaca
Serbia picks China's Zijin Mining Group as strategic partner in RTB Bor Cerovo open pit mine; Source: RTB Bor

BELGRADE (Serbia), August 31 (SeeNews) – Serbia has picked China's Zijin Mining Group as a strategic partner in state-run copper miner and smelter RTB Bor, the country's energy minister said on Friday.

Zijin Mining Group will invest $1.26 billion (1.1 billion euro) in RTB, Aleksandar Antic told a news conference. A video file of his statement was posted on the website of news agency Tanjug.

Apart from the planned investment, the Chinese company, which will hold a 65% stake in RTB Bor, is obliged to recapitalise the miner with $350 million.

China's Zijin Mining Group beat Russia's U Gold in the tender for Serbia's miner.

Serbia's economy ministry invited bids in a tender for a strategic investor in RTB Bor in July.

($=0.8569 euro)

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