50 million dollars worth income of the Mining and Smelting Basin Bor

1. March 2013. / Mining

MSB Bor accomplished financial income of 50 million dollars from ongoing business in the last year. The expenses per ton of copper are said to be 6,5 thousand dollars worth and that they will be decreased to 3.700 dollars per ton until 2016.

“MSB Bor produced 32.229 tons of cathode copper during 2012. Final financial balance will be known until the end of February but all indications show that it was accomplished for almost 10 million dollars more than in 2011”, Milinko Zivkovic, Deputy Minister of Managing Director of MSB Bor said.

He reminded that losses in production were stopped in 2010 when MSB Bor launched positive business.

“We had a negative financial result of 40,7 million dollars in 2004. The loss reached 48 million four years later. MSB Bor has finally accomplished positive result of 35,5 million dollars from ongoing business in 2010. Over 41 million dollars’ income was accomplished in 2011”, he said.

The state has currently frozen old obligations of MSB Bor and let the Copper Combine to consolidate. It will finish reconstruction in a period of six months to one year. 180 companies have this status in Serbia at this point. There are different phases whose subventions are financed by state for 750 million EUR, Verica Kalanovic, Minister of Regional Development, National and Local Governments, said. She classified Bor among perspective companies.

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