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Construction of Copper Smelter in Bor

07. April 2010.

The contract between Mining-Smelter Basin (RTB) Bor and Canadian Export-Development Bank (EDC) on the loan for construction of new Copper Smelter should be signed in May - the Minister of Economy of Serbia, Mlađan Dinkić, announced yesterday (April 6, 2010) in Bor.

The representatives of Canadian SNC Lavalin, which developed the feasibility study for the construction of new Smelter, said that the project was worth about 135m EUR.

According to the announcement, the state will provide the guarantee for the loan, while the loan contract should be signed in May. According to Dinkić, it is a "favorable loan" and the funds that will serve as the guarantee for the loan have already been provided in the budget.

- This is the most serious investment cycle in RTB over the last 30 years and it will make it possible for Bor to start economically profitable production and enable the citizens of Bor to breathe clean air - said the Minister of Economy.

He said that the works on construction of the new unit should commence in the summer and that the deadline for their completion was between 30 and 39 months.

According to his words, the construction works, in which Serbian building companies will be engaged, will represent 15 to 20% of the project's value, while the up-to-date equipment will be imported from Canada and Finland.

RTB's CEO Blagoje Spaskovski said that the Smelter would be built by Finnish company Ototek.

Minister Dinkić reminded that RTB had also been granted the loan of 27m EUR for procurement of mining machines and that six heavy trucks with the capacity of 250 tons had already been purchased for the needs of the mines in Bor and Majdanpek.

Source: eKapija