Serbia seeks strategic partner for copper mine and smelter

The Serbian Ministry of Economy on Wednesday announced a tender to select a strategic investor for the RTB Bor mining and smelting complex.

The tender, published by Belgrade's Politika daily, envisions a 350 million dollar capital increase, Tanjug is reporting.

The strategic partner may be a national or foreign legal entity or consortium, the announcement said - and they must report sales revenue of at least USD 500 million.

This revenue must come from the bidder's "predominant business activity" - i.e., "exploitation of copper and/or other non-ferrous and precious metals and/or production of copper and/or other non-ferrous and precious metals, in continuity during last ten years."

The deadline to submit the offers expires on August 20. The precondition for review of applications is payment of the deposit or delivery of a guarantee issued by the first-rank bank in the amount of one million US dollars.

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