Chinese state mining company eyes Serbia new copper gold mine Cerovo

Chinese state mining company eyes copper company Bor minority stake and opening of new Cerovo gold copper mine in Serbia.

China’s state mining company Liten has sent a letter of interest for strategic partnership with RTB Bor state owned copper company.

Chinese state-owned company is offering an investment of 350 to 400 million dollars, primarily for the development of mining in RTB Bor.

“In turn, representatives of Li Ten are asking for a minority stake in the biggest Serbian manufacturer of copper and gold and therefore the corresponding number of seats in the Board of Directors and management board of the company from Bor,” .

Li Ten is ready to invest almost half a billion dollars in the opening of copper and gold mine “Cerovo” within RTB Bor in the next five years.

It adds that the Chinese are willing to invest money in the purchase of necessary mining equipment, as well as the construction of another flotation – plant which will be used to process ore from “Cerovo”.