Chinese company Zijin interested in buying Institute for Mining

Chinese company Zijin, the strategic partner of RTB Bor, is interested in buying the state-owned Institute for Mining and Metallurgy (IRM), headquartered in Bor, Novosti learns.

– After the successful completion of the transaction for the strategic partnership with RTB, representatives of the Chinese company also expressed interest in the purchase of IRM – the Ministry of Mining told Novosti.

– IRM performs all chemical-technical and other analyses for RTB Bor. Around 180 experts in mining, metallurgy and geology work here.

The Institute, which is active in many other projects in the country and abroad, briefly told us that representatives of Zijin had come to agree on the future cooperation, but that they hadn’t proposed a potential change in the ownership structure up till then.

– Representatives of Zijin want us to continue working on the same jobs we’ve done for RTB. We were also told that they were interested in purchasing IRM, but it’s still early to talk about that – IRM says.

In addition to RTB Bor and IRM, the Chinese company has also sent an offer to the shareholders of the Canadian company Nevsun, which owns exploration rights in the Cukaru Peki location, one of the richest copper and gold sites in the world, for the purchase of the company at the price of USD 1.4 billion.

Under the agreement on the strategic partnership with RTB Bor, Zijin has become the owner of 63% of the company.

Another Chinese company at equipment factory

The large Chinese company Wolong Holding already operates in Bor. It owns Fabrika opreme i delova (FOD), which used to belong to the RTB Bor system, as well as Sever Subotica, which they have bought from the Austrian company A-tek, the winner at the second tender for the sale of RTB Bor.

FOD is mostly active in electro-mechanical operations at the Copper Combine.

Zijin Mining Group Co Beijing

Serbia Zijin Copper doo Bor

Institut za rudarstvo i metalurgiju Bor

Ministarstvo rudarstva i energetike Republike Srbije

Nevsun Resources Ltd.

Fod d.o.o. RTB Bor grupa Bor

A-TEC Industries AG Vienna

ATB Sever d.o.o. Subotica

Zijin

IRM

Cukaru Peki

Wolong Holding

FOD

Copper Combine

purchase of Institute for Mining and Metallurgy