Bor is a copper mining and smelting complex laki forex in Bor, Serbia. Lectra Haul dump truck in Bor.
The first geological explorations of copper ore in Bor area were conducted in 1897 and covered the area at the time called “Tilva Roš”. In 1951, the company’s assets were nationalized by the Government of SFR Yugoslavia. Since then, the company Bor was in the state ownership. From 1951 until 1988, the company has changed its organizational structure, from the “organization of associated labor” to current form of the state-owned enterprise “RTB Bor”.
During 1993, following the breakup of SFR Yugoslavia and the outbreak of the Yugoslav Wars, RTB Bor made various investments which further initiated opening of the new mining operations such as new pit mine called “Cerovo”. Since the mid-1990s and during the time of sanctions on the Federal Republic of Yugoslavia, production in the RTB Bor dropped significantly from the very prosperous 1970s and 1980s. This has been due to both diminishing reserves and the inability to obtain new equipment that would most efficiently gather the remaining ore no longer of high grade. 150 million was delivered by A-TEC.
For more than two decades, RTB Bor has been among the most unprofitable Serbian companies, with the accumulated debt of more than 1 billion euros. Even with high copper prices on global markets, RTB Bor continued with financial losses. For calendar year 2015 net loss was around 110 million euros and for 2016 it amounted to 42 million euros. 40 million for failure to fulfill the contract and subsequent financial losses. The sale was later postponed until June 2018. 26 billion deal with the Government of Serbia. On 18 December 2018, Zijin Mining formally took over the company under new name “Zijin Bor Copper”.
Later, it was announced that suffix “Serbia” will be added. The ledges of the Zijin Bor Copper are located in the southwestern part of the Carpathian Mountains and are mostly of porphyry type within the Upper Bor District eruptive area. The currently undeveloped underground site “Borska Reka”, located within the Jama mine, represents a very significant potential mineral resource. RTB Bor beleži 7 puta veću zaradu”. Economy – Austrian A-TEC buys RTB Bor”.
UPLAĆENO 150 MILIONA DOLARA ZA RTB BOR”. Finance Archived 2 November 2009 at Archive. Tender za RTB Bor do kraja marta 2018. Srbija dug RTB Bor plaća grčkoj firmi na četiri rate”.
Bakar iz Bora na ceni, za njega plaćaju premiju”. Serbia receives three bids in tender for RTB Bor strategic partner”. China’s Zijin wins race for Serbia’s largest copper mine”. This article needs additional citations for verification.