Basic Element | 27 July 2007 г. | 12:32

A Copper Company has been Offered to Basic Element in Exchange for Olympics Contracts

On July 31 another tender will be announced for privatization of RTB Bor, a Serbian copper company. The upset price should amount to $340 mln. Soyuzmetalloresurs incorporated in Basic Element Resourses Division has already showed interest in participation in the tender. Some analysts say, the deal can be made at a lower price provided Mr. Oleg Deripaska recruits Serbian workers to implement his Sochi projects.

RTB Bor incorporates mines, a floatation factory, a copper melting plant with the annual capacity of 75 thou tons of low-grade copper and a copper and precious metals refinery. The company consists of 3 divisions: Copper Mines Bor, Copper Mine Majdanpek, Smelter and Refinery. The capacity of the plant amounts to about 600 thou tons of copper concentrate a year (actual production - about 100 thou tons), and 160 thou tons of copper cathodes (actual production - 100-120 thou tons).

Source: Metal Supply and Sales
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