Chinese companyy eyes RTB Bor - Li Ten submits Expression of Interest in strategic partnership

(Photo: rtb.rs)

The Chinese offer to invest between 350 and 400 million US dollars, primarily in the development of mining operations in RTB Bor. In return, Li Ten representatives are asking for a minority stake in the largest Serbian copper and gold manufacturer and, accordingly, an appropriate number of seats on the Managing Board of the company based in Bor.

Li Ten is set to invest nearly half a billion euro over the next five years in the opening of Cerovo copper and gold mine which attracted the interest of the multinational Glencore few years ago, the daily Vecernje Novosti reports.

As it was added, the Chinese are ready to invest in the procurement of necessary mining machinery and the construction of another flotation facility where ores from Cerovo would be processed.