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Copper production of its own concentrate at RTB Bor is expected to rise from 40,000 tonnes to 160,000 tonnes over a six-year period, the Minister of Mines and Energy said today. Aleksandar Antić, at a session of the Serbian Parliament.
Antic, explaining to Parliament the draft law on the acquisition of property rights on land, buildings and lines RTB Bor, said that the purpose of this law was to solve the problem of statutes buildings and land used or held by this company for decades.
According to him, this law would ensure that RTB-owned State-owned land, as well as land belonging to the Republic where the mine was registered as a holder, becomes the property of the State. private property of RTB Bor and that the corporate assets are also registered on real estate at RTB became his private property.
Antić briefly touched on the history of the operation of the Borsko-Majdanpek Basin, which since 2000 has been deeply aggravated in the crisis, accumulating losses ranging from 1.3 billion RSD since 2008.
In this context, he recalled that his government had succeeded in "repositioning the mining giant" in order to make it more attractive for foreign investors and that he had managed to make Ziegin a strong strategic partner within the RTB , after four unsuccessful attempts. previous governments privatized this national enterprise.
Zidjin, as he said, received 63% of RTB's capital for $ 350 million, with the guarantee of settling its debts in accordance with the Prepared Reorganization Plan (UPPR), which is to say to say all the obligations that RTB is still facing.
He also added that the strategic partnership agreement had forced the Chinese company to preserve the existing 5,000 jobs, while providing for a binding business and investment plan of 1,26 billion over six years.
– The goal is that after three years, the copper production of its own concentrate, which now stands at 40,000 tons, reaches 80,000 tons and that after six years this figure rises to 160,000 tonnes – stressed Antić.
So, as he has reiterated, for six years, "we have a $ 1.26 billion investment cycle and a three times more production multiplied by four of our own concentrate's copper production , which will significantly affect the growth of our overall GDP, but and the value of the company itself ".
Antić also said that "all estimates indicate that our 37% ownership of RTB will be worth far more than 100% of what we have now."
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